Founded by experienced serial entrepreneurs in the SF Bay Area and a team of seven engineers specializing in video communication development, this technology startup is a video chat platform built to support inbound video calls into a call center environment with a single click of a URL or scan of a QR code.
This startup has built strong demand in 2020 as there is an increasing demand for businesses to connect with their customers thorugh video across operating systems and devices. The business is projected to do over $1M+ in new bookings.
The capabilities of the system are unique among video calling applications. The founders have defined 3 different markets for video communications and have built out a platform to support the model of inbound video calls to a business.
1. Ad-Hoc Consumer Connections - These technologies support ad-hoc video calls between 2 known users. Examples are Facetime, Whatsapp and Skype.
2. Scheduled Business Connections - These technologies replicate a business meeting over video conference. Meetings are scheduled in advance, known attendees are invited to attend at a set time. Examples are WebEx, Zoom and Google Hangouts
3. Inbound Video Calls to a Business- These are the successors of phone or 800 number calls from high value customers and prospects. They occur at random times throughout the business day and go into a queue for the first available agent to receive the call, like a call center.
By clicking a link or scanning a QR code, the system allows callers to instantly connect to businesses via video, regardless of device, operating system or network in use. The platform includes analytics, user and queue management capabilities and the backend infrastructure to support enterprise scale video calls.
As we move into a time of limited mobility, the solution is ideal to bring a business to the customer virtually.
With the rapidly evolving work environment, the system is being expanded to support ad-hoc group video calls with up to 10 participants.
Key Rationale for AcquisitionThis is a new, green field segment of the video calling market. No other existing video calling vendors have developed the technology to meet the requirements of high volume, inbound video calls. The business has received angel investment and is currently cash flow positive. The solution is in production with initial revenues. The technology offers tremendous upside potential to an acquirer able to fund its rapid growth.
The founders are looking for strategic buyers or new investors and partnerships that can help the company grow, now that video has arrived.