Productbot AI

3 mid-sized customers didn’t buy V1 but are now negotiating purchase for Productbot’s version 2. Given the current trajectory and improved product direction, many of our V1 customers saw the latest development as a major improvement on the existing product and one that elicited a great productivity use case during user research. We re-engaged with 60 high-value targets out of 1200 companies who signed up last year and are now in varying stages of working them through our sales pipeline and into paying customers for V2. Given the current capability, our V2 now justifies a higher price point and is differentiated from other AI chat competitors.

After interviewing 30 customers in our V1 product, we discovered a hole in our initial assumptions about how users wanted to access their data. After 50 user interviews, we adapted our platform to handle large-scale data inputs and refactor our RAG pipeline so that we could ingest larger data sets and analyze more information faster and with a higher degree of accuracy. We also began to build out our product design within the platform.

Productbot Ai launched publicly on 10/18/23. We grew our users 30% upon the announcement. Our Q4 goal is to acquire 150 paying customers by 12/31/23.

To learn more about our launch, read our press release:

https://www.kxan.com/business/press-releases/ein-presswire/662703118/productbot-ai-announces-availability-of-privacy-focused-ai-platform-for-accelerating-software-development/

We hit paydirt with our first paying customers only a week after launching our paid service. We have both a self-service and a high-touch sales motion. Currently, we have a projected $600K of ARR in the pipeline with direct sales opportunities.

After 3 months of running the beta, we determined our pricing and go to market strategy. We launched stripe payments to all of our active betas and will officially open to the public in October.

Engaged with a SOC2 vendor to start the SOC2 compliance process to service enterprise customers.

Registered 80 beta users on platform and averaged 30 MAUs since beta launch.

V2 launch of Productbot AI beta

Through various outbound sales, digital marketing, and social selling we crossed 1000 beta waitlist signups.

Admitted into the Capital Factory Accelerator and Portfolio.

Launch V1 of our beta.

Through various outbound sales, digital marketing, and social selling we crossed 500 beta waitlist signups.

We raised $125K from 3 angels to start the product development and go to market.