Series A funding round presentation

conditioninspiredInternet and Web Development

Dec 4, 2013 (3 years and 9 months ago)

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Series A funding round presentation

Introduction

Groopex
’ vision is to establish itself as the prime facilitator
of web conferencing usage, connecting end users to web
conferencing providers via
Groopex
’ middleware.


Our
software integrates the market’s leading web
conferencing services such as Cisco’s WebEx, Microsoft’s
Lync/LiveMeeting and Citrix’
GoTo

into the end user’s main
environment
-

delivering the highest quality of web
conferencing for everyday use
. This also enables web
conferencing adoption in new markets such as the
education and corporate training markets.


Our market value is amplified due to our importance to web
conferencing vendors. Our solutions alleviate client pain
points, increase web conferencing usage, and consequently
enable them to increase sales
.


Groopex

began in 2007, when the founding team began
working on a web conferencing integration project for an
online school. Over the past 5 years, the team has acquired
a thorough understanding of the web conferencing market,
and world
-
class expertise in software development in this
field.
Groopex

was formally incorporated in 2011 and
completed its seed stage funding by an angel investor in
January 2012
.


Introduction (2)

The use of web conferencing is rapidly expanding, with the market
being dominated by Cisco (58%), Citrix (13%) and Microsoft (11
%)
1
.
However
, web conferencing is still very much an inefficient standalone
service, which is detached from the user’s main environment. This is
cumbersome, frustrating and error
-
prone from both a user and
administration perspective.


As
the need for integration solutions is recognized throughout the
industry, Web Conferencing providers are challenged by this need, as it
requires them to develop with, and support foreign platforms.
Successfully facing this challenge will establish
Groopex

in a strategic
position and will also turn
Groopex

into a valuable acquisition
opportunity for the various web conferencing providers
.




Background

Addressing this above critical issue,
Groopex

has created a web
conferencing integration application called
Groopex

Integrated
Conferencing (GIC). GIC is designed to communicate with any
web conferencing service, and connect to any third
-
party
platform, provided the necessary API’s exist.



Using this unique application, we have the ability to support any
leading web conferencing service, and enable its use from within
any platform which is used in conjunction with web
conferencing. Further, our integrations provide additional
administrative features, enabling

comprehensive web
conferencing solutions.


Groopex

Integrated Conferencing

Groopex

Integrated Conferencing (2)


Our
current developments focus on the education and corporate
training markets. These solutions effectively enable web
conferencing usage for live online classrooms, from within

Learning Management Systems.



We are planning to expand into general business collaboration
market by integrating web conferencing into CMS’s, offering full
web conferencing capabilities within websites (scheduled release
mid
-
2013).

Groopex

Integrated Conferencing (3)


Groopex

Integrated Conferencing (GIC
)



Supported web conferencing services:


Cisco WebEx


Microsoft Office Live Meeting


Citrix
GoTo


Supported platforms:


Moodle
LMS: 70,000+ installations, 63M users


Blackboard
LMS: 3,000+ installations, 20M users (scheduled
release Mar 2013)

Current Products


Microsoft
Lync
-
Sharepoint

integration


We
have recently released a Microsoft Lync integration for MS
Sharepoint

which further establishes us as an integrator in the
Microsoft web conferencing market.


This
product is independent from our main GIC application, as
the APIs needed for the integration have not yet been released
by Microsoft and will be added to GIC as soon as the APIs are
released.

Current Products (2)

Clients:


10 paying clients


5 active
trials


Two beta testers


Several trial requests for our Blackboard product including
Temple University, George Washington University, and the
Hawaii’s Statewide Online Virtual Learning
Network


Initiated
talks with Microsoft resellers about our Lync
-
Sharepoint

integration
product




Sales & Marketing Current State

Sales Channels and Partnerships:


Cisco:


Member of Cisco Developer Network


Have established relationships with individual and regional sales people


Relationship with product development team which gives us insight into Cisco’s strategy
and an edge in future developments


We have been suggested as testers for new Cisco software


Intercall
: Global WebEx reseller


Have a strong interest in a joint marketing venture in Asia
-
Pacific


Plan to procure several joint pilot projects in Q1 of 2013


Internet Solutions: Largest WebEx reseller on African continent.


Early stages of collaboration


Introducing us to initial opportunities in Africa


Naotech
: WebEx reseller in Israel


Constant contact with their team regarding various leads and opportunities in the Israeli
market

Sales & Marketing Current State (2)

Partnerships (continued):


Citrix
:


Agreed to promote our solution to prospective clients when we release support for
GoTo



Soon to be official Citrix Development Partner


Microsoft:


Microsoft Partner


Final stages of becoming Microsoft Silver partners.


Moodlerooms

and Remote
-
Learner: Two of the largest Moodle Hosting companies in the US.


Willing to put block through testing process when the hosted application is released,
making our product available to their client base


AtarPlusPlus
: Largest Moodle hosting company in Israel


Early discussions about joint projects


Blackboard:


Blackboard Building Blocks Partners

Sales & Marketing Current State (3)

Planned Future Developments



Hosted solution: This is crucial in order to expand our potential market.
Our present potential market is by limited by hosting companies, who
refuse hosting foreign applications on their servers. Additionally, this will
reduce maintenance, support and future development issues.


Additional LMS integrations: This will enable us to approach organizations
with other LMSs. These include Desire2Learn and Canvas.


Additional web conferencing services: This will increase our potential
market and market value. We are specifically looking at IBM’s and Adobe’s
web conferencing services.


Expanding to the general business collaboration market by integrating
with CMSs: We already completed most of the development for Drupal,
Joomla

and
Wordpress

which will offer web conferencing capabilities from
websites and will enable us to penetrate the general business market.

Sales and Marketing Objectives



Create a complete offering by becoming a web conferencing reseller.
This
will enable us to
reduce our partner dependency and
approach clients
with a complete package.


Expand sales operations and acquire large clients independently.


Initiate marketing campaign promoting the concept of online education
and corporate training via web conferencing.


Increase sales channels relationship.

Opportunities & Challenges


Education
& corporate training market:

The usage of web conferencing for online education is relatively new, and we
anticipate the market to mature over the next three years. At this early stage
of adoption, opportunities are
modest
and sales cycles can be long. Investing
in our market positioning via partnerships and strategic sales over the next
years, will establish us as the leader in this
large market
as it matures.



General
business collaboration market:

Web conferencing is already prevalent and rapidly growing as a business
collaboration service. While immediate opportunities exist, the challenge
here will be to convince the market of our solutions’ added value. On the
other hand, this is the most lucrative market and will also have the biggest
positive impact to our value vis
-
à
-
vis the web conferencing providers.

Investment


We
are seeking an investment ranging
between
$
3M over a
period of three years. This investment will allow us to ensure a
strong foothold in the web conferencing market, reach
profitability and align ourselves with Cisco’s, Microsoft’s and
Citrix’ market strategy
-

increasing the possibility and value of a
potential acquisition.


Preferably
, we seek the backing of an investor who has the
knowledge to complement our company’s expertise and
maximize our company’s value.