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We Build Bots

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Intelligent automation powered by conversational AI. Multi award winning enterprise SaaS platform.

213%
 - 
Funded 4 Oct 2021
£300,000 target
£641,625 from 748 investors
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Business overview

Location London, United Kingdom
Social media
Website www.wbb.ai/
Sectors SaaS/PaaS Digital B2B
Company number We Build Bots
Incorporation date 4 Aug 2017
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Investment summary

Type Equity
Valuation (pre-money) £5.6M
Equity offered 10.31%
Tax relief

EIS

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Business highlights

  • £1.5m revenues
  • 15 enterprise customers
  • Tech Nation 'Rising Stars' and 'Applied AI' winners
  • Global reseller partner network established
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Key features

  • Secondary Market
  • Seedrs nominee min. £15.00 +
  • Pay by Bank payments not accepted

Idea

Introduction

Did you know that 26% of an employees' time in the workplace is wasted on repetitive, manual tasks? And did you know that UK businesses lose more that £37bn a year because of poor customer service?

These are the issues we're fixing with our enterprise SaaS platform, Intelagent.

Welcome to intelligent automation... powered by conversation.

We Build Bots (WBB) is a multi award winning intelligent automation company.

Our enterprise SaaS platform is called Intelagent, and is used by customers in the government, transport, education, utilities, third, and sports sectors to build, integrate, train, test and launch service automation tools like chatbots and voicebots that can be powered by voice or text.

These bots can be used to serve employees and customers, taking care of the mundane tasks to save time, save money, and deliver a great user experience.

We currently work with 15 enterprise customers, have a churn rate of 6.25% (1/16 based on 3-year contracts), and have generated £1.5m in revenues.

Substantial accomplishments to date

It's been an amazing 3 years since we raised our Seed round. Here are just some of the highlights.

- Grown team to 15
- Established global partner network

- Generated £1.5m in revenues
- Secured 15 enterprise customers
- Secured ISO27001 accreditation
- Winners of Tech Nation Rising Star

- Selected as a Tech Nation Applied AI member
- Selected as PwC Scale for Transport partner
- Developed specific product for education called Schoolroom
- Developed proprietary NLP engine - KBase
- Covered in Forbes, BBC, ITV, Business Insider and Sifted

Monetisation strategy

WBB is a SaaS vendor. Our platform, Intelagent is licensed, typically on 3 year contracts. These are paid annually in advance.

We have 3 tiers of pricing;

starter (£5988 p/a)
pro (£30,000 p/a)
enterprise (£54,000 p/a).

Our most popular tier is pro - £30,000 p/a.

Over 3 years that means a total contract value of £90,000.

We do small amounts of billable integration work too but this type of work is handled largely by our clients or integration partners.

Around 90% of our revenue is recurring revenue.

Use of proceeds

We are raising funds to extend our runway with the aim of building our annualised recurring revenues to £1m+ by August 2022.

The funds raised will be used for operational expenditure (runway), but also to expedite our revenue growth.

In order to expedite this recurring revenue growth we will:

- Add 2 x Sales Development Representatives (SDR) @ £30k p/a
- Add 1 x Dev Ops lead to support our channel partner efforts @ £50k p/a
- Increase marketing spend to £10,000 per month (currently £5000 p/m)

Key information

Loan

The company has an outstanding £50k bounce back loan backed by the government. Funds raised as part of this raise will not be used to pay back this loan.

Outstanding Convertible Loan

In 2020 We Build Bots raised £423k through the government Future Fund scheme. This investment was structured as a convertible loan note and you are able to find details of this on their previous campaign here https://www.seedrs.com/webuildbots2.

The loan will convert to equity if this campaign raises over £422,840. We have priced the effect of this into the pre-money valuation of the company, so that it is presented on a fully-diluted basis. If the loan isn't converted by this round then it will remain outstanding and may convert in the future, which would dilute investors.

The accrued interest on the loan has been calculated on the assumption that the convertible will convert on the 29th October 2021.

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To comply with financial regulations, we can only show full campaign details to registered users.

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing carries risks, including loss of capital and illiquidity. Please read our Risk Warning before investing.

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Seedrs platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Seedrs platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Seedrs does not make investment recommendations to you. No communications from Seedrs, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Seedrs does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Seedrs, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £5,563,395

Pitch type

There are 5 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • Fund
  • Cohort
  • Secondary

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs

Seedrs nominee

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Seedrs nominee.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This shareholding type is available and the minimum investment required to select it.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.