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RealSpeaker English Executive Summary

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RealSpeaker English Executive Summary

  1. 1. RealSpeaker - Executive Summary (www.realspeaker.net audio-visual speech recognition) RealSpeaker Inc: 19901, 11 South Dupont, Dover, DE, USA E-mail: ovi@realspeaker.net Company Details: - Founded in January, 2012 - 5 employees - Ownership: Private Funding: - Current Burn Rate - $1M - Seeds Round: $0,5M in 2012-2013 o $0,3M – in 2012 o $0,2M – in 2013 - Seeking 1st Round: $1,0M Use of Proceeds: - To transfer base from local to flexible server, creating more pure architecture with Web 2.0 language base principle - Support opportunity to download and analysis audio-video files - Checking of business model Product Development Cycle: - Development began in December 2011 - Beta – 9th of September 2013, at a cost of development of $0,3M - Breakeven point – November 2013 - Commercial Production expected to begin in August 2014 o Funds required from Beta testing to production expected to be $0,5M - Funds required from commercial production to profitability expected to be $0,5M Revenue: - 2012: $0,025M - 2013: $0,1M - 2014: $1M - 2015: $15M - 2016: $100M Competitive Advantage: - High accuracy speech recognition - More safety - More usability and cheaper Management Team: - CEO/Founder: Viktor Osetrov ru.linkedin.com/in/realspeaker/ - CTO: Artem Smirnov ru.linkedin.com/in/temasm Company: RealSpeaker Lab develops the audio-visual speech recognition application RealSpeaker. Our solution uses additional video information, which allows as to improve voice recognition accuracy by at least 20-30 per cent. This makes our patent pending technology way ahead of existing competitions. We have released beta version of our product for Windows OS, which is currently in use by about 250k users, out of which 2k users are paid users. In this year we are going to reach over 1M downloads with a revenue over $1M Marketplace: According to TechNavio currently, only 15-20% of the speech recognition market potential is used. The total expenses on speech recognition technologies developing in the world in 2010 were estimated at $1000M and in 2010 the speech recognition market will reach the point of $2500M (+25% per year) in 2016. Problem: Today most audio speech recognition solutions have severe limitations, such as: sensitively to background noises; difficulties’recognizing individual words; users must speak in an un-natural fashion using fragmented speech; they required broadband Internet connectivity; and with an accuracy of less than 60%, not saying that they are painful to use. Product Offering: RealSpeaker addresses the problem by enhancing the speech recognition with video analysis of the user’s lip movements. With RealSpeaker you can: enter text of any length with the voice and video without keyboard at any text editor or website (Notes, Facebook, Skype, Evernote, E-mail and Microsoft Office etc.); Support of 13 main languages; Some functions of voice navigation (editing and sending). Differentiation: US Patent 13/942,689: “System of video enhancement for audio speech recognition solutions to improve the accuracy of audio speech recognition due to the analysis of speaker lip movements” Partners: Our team is supported by such organizations and institutes as Microsoft Seed Fund, Skolkovo, Startobaza, Kazan IT-Park, StartupSauna and 2 business-angels from the US. We have NDA with Samsung, LG, Toyota, Itouchu. Right now, we are looking for partners as well as investors for our round "A" which will be used to further R&D and marketing. Business Model: Try & Buy Free version – can recognize speech to text for 3 days; 1 % conversion. 250 k free users, 2 k paid users in April of 2014 Paid version for: 1 month ($12), 3 months ($26), 6 months ($31), 12 months ($44), unlimited time ($89) We have special panel for software vendors.