Exited founders from a commercial real estate service business are coming back to build a SaaS business that will serve as the Zapier for all IoT in commercial buildings.
|1. Fundraising Target?||$1000000|
|2. Fundraised So Far?||$73000|
|3. Pre-Money Valuation?||$8000000|
|4. Previous Year's Annual Revenue||$123000|
|5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash)||~$-733601|
The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)
|1. A startup that is based in SV?||False: Herndon, VA|
|2. Has at least 2 founders?||True: Two|
|3. Has product in the market?||True: Revenue generating|
|4. 6 months of continuous user growth or 6 months of revenue?||True: Monetized in 2019|
|5. Notable investors?||False: Bootstrapped|
|6. Post-funding, will have 18 months of runway?||False: Not on track to do so at present|
|1. Engineering?||2||Using open tech and SaaS to build a Zapier/dashboard for commercial real estate|
|2. Timing?||2||Like Zapier, with more proliferation of IoT companies and devices, will need one central hub to manage it all|
|3. Monopoly?||1||Some customers but hardly a monopoly|
|4. People?||3||Team looks really good, having built SmartBT a service business already like this, and has a SaaS tech CEO|
|5. Distribution?||2||B2B, very low sales cycles|
|6. Durability?||4||If can be built, incredibly durable.|
|7. Secret?||3||The desire for innovation in commercial real estate is great enough that they'll pay money for an admin platform that handles all endpoints of the stack|
What has to go right for the startup to return money on investment:
1. IoT for new commercial buildings continues to be revenue driver not cost center; 2. Successfully sell integrated platform to C-suites and millennial executives/workers; 3. Build
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