We Build Bots
Intelligent automation powered by conversational AI. Multi award winning enterprise SaaS platform.
|Location||London, United Kingdom|
|Sectors||SaaS/PaaS Digital B2B|
|Company number||We Build Bots|
|Incorporation date||4 Aug 2017|
- £1.5m revenues
- 15 enterprise customers
- Tech Nation 'Rising Stars' and 'Applied AI' winners
- Global reseller partner network established
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
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)
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.
Open an account to get access to the team members of We Build Bots
Already have an account? Log in
To comply with financial regulations, we can only show full campaign details to registered users.