Everyone is texting.
So why can’t you text a business?
Texting is biggest void in business communication.
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)
The Solution?Text Request
Is a powerful Cloud-based business toolCustomers & businesses engage each otherReal-time, 2-way text conversations from a desktop or mobile appOrganizational control & features similar to e-mail systemsLocal, 10-digit number
Since January 2015 launch, over 100 customers and counting…
“Employees enjoy texting rather than constantly being on the phone. If a guest comes down to the front desk, it’s 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
Since January, we’ve had:
Over 325,000 texts sent and received through our platform
Over 200 active business text lines
Pipeline of 500+ prospects, including…
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,
CAPublic
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 beganMarket is just now taking off, so there are no dominant incumbentsRecent venture capital investments validate opportunity
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
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
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)
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
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 & Poor’s,
Fidelity, Microsoft, BP, etc
Launched IronHorse Software and has developed software for several startup companies (RootsRated, ZipFlip, Stork)
Computer Science degree from Duke University
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
Recommended
