Text Request Pitch Deck 7-21-15

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    14-Aug-2015

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  1. 1. Everyone is texting. So why cant you text a business? Texting is biggest void in business communication.
  2. 2. 7,700% increase in text messages sent over the last decade (CTIA & Nielsen, 2014) 78% of people who text wish they could have a text conversation with a business (RingCentral, 2012) Sending and receiving text messages is the most prevalent form of communication for American Adults under 50 (Gallup, 2014)
  3. 3. The Solution? Text Request Is a powerful Cloud-based business tool Customers & businesses engage each other Real-time, 2-way text conversations from a desktop or mobile app Organizational control & features similar to e-mail systems Local, 10-digit number
  4. 4. Since January 2015 launch, over 100 customers and counting
  5. 5. Employees enjoy texting rather than constantly being on the phone. If a guest comes down to the front desk, its a lot easier to put a text on hold than putting a phone call on hold. Ben Montgomery, GM, Springhill Suites "We currently use Text Request in our sales team, billing, collections, customer service, and verification team. We have seen an increase in sales by 17%, an increase in collections by thousands a week, and allows our customer service and verification teams to resolve customer issues quicker without them having to wait on hold. The service time has increased for our members dramatically and has increased customer retention by 66%. We are so thankful to be able to add this unique tool to our organization that has increased profitability and customer retention in two departments and lowered customer hold times. Sarah Ekdahl, VP, National Healthcare We have experienced a 4000% ROI on our investment in Text Request over the last two months. The click to text creates revenue. Casey Linder, Sales and Marketing Leader My patients appreciate texting back and forth with us. The first time I used Text Request I was able to fill 3 open appointments in 5 minutes. Customers read text messages. Charley Ankar, DDS
  6. 6. Since January, weve had: Over 325,000 texts sent and received through our platform Over 200 active business text lines
  7. 7. Pipeline of 500+ prospects, including
  8. 8. Competition Company Focus Founded Location Capital Raised ZipWhip Text-enabled landlines & 1-800 #s 2009 Seattle $8MM Ring Central Cloud Based Phone System 1999 Belmont, CA Public Company Heywire Landlines & enterprise accounts 2010 Boston $13MM Zingle Hospitality & parking, text-to- print 2009 San Diego unknown TextAim Educational institutions 2011 Phoenix unknown Text Request Quote and appointment based small businesses. 2015 Chatt $0 Most launched 4-6 years ago, before significant adoption began Market is just now taking off, so there are no dominant incumbents Recent venture capital investments validate opportunity
  9. 9. Pricing Model $25 $49 $99 $199 $399 # of Texts 400 1,000 2,500 6,500 20,000 Phone # Cost (fixed) $1 $1 $1 $1 $1 Text Cost (variable)* $3 $8 $19 $49 $150 Total Cost $4 $9 $20 $50 $151 Gross margin % 84% 83% 80% 75% 62% *Assumes 100% usage of plan otherwise, gross margins will be even better
  10. 10. Go-to-Market Strategy Trade Shows 20+ trade shows in the next 12 months Digital Marketing Display ads, social media, e-mail, content marketing, PR Inside Sales Specified industry focus - we have identified customers with shortest sales cycle that we benefit most Resellers 20% commission to reseller partners (see next slide for more) Enterprise Enterprise accounts with significant brand recognition Outside Sales Modest outside sales effort, but not planning to scale it
  11. 11. Partner Programs/Resellers MEA-NEA 46,000 dental/medical office clients Customview Book Higher Education lead producer Cathedral Corporation Servicing 80 Colleges Active Discussions Future Industry CRM Targets FranConnect & IFX (franchising) Servicing 600 franchise brands & 110,000 locations First Freight (logistics) Hobson, Ellucian (University education)
  12. 12. Founders have invested $135,000 cash and ~$150,000 of in-kind software development Developed market-ready product Validated product and revenue model with initial customers Seeking $500,000 preferred equity to accelerate growth Primary use of capital is executing go-to-market strategy to drive rapid growth Highly efficient use of capital due to sharing of resources with Founders other business (leadership not taking salary until Series A, minimal rent, shared staff, etc) $3.5MM pre-money valuation, customary terms Financial
  13. 13. Seasoned Leadership Brian Elrod CEO Fortune 1000 corporate start-up leader Founded and built Educational Outfitters franchise, which has generated over $140MM in revenue Launched JockSale franchise for sporting equipment consignment events Jamey Elrod COO Co-Founder and partner in Educational Outfitters and JockSale Conceived idea for Text Request Rob Reagan CTO Developed software for ExxonMobil, Standard & Poors, Fidelity, Microsoft, BP, etc Launched IronHorse Software and has developed software for several startup companies (RootsRated, ZipFlip, Stork) Computer Science degree from Duke University
  14. 14. Strong Supporting Staff Part of the Initial 5 Creators James Dawson Director of Sales & Communications Matt Holland Director of Product & Projections First Round of Hires Sam Wells Inside Sales Seth Paul Customer Service & Implementation Kenneth Burke Social Media & Content Management Foster Benson Inside Sales
  15. 15. Brian Elrod, CEO brian@textrequest.com