Immersionn Investor update
Dear Immersionn Investor,
We hope you had a great year and are in good health. 2021 is officially over and we have made some great strides during the year. Thank you for your continued support we are a profitable company and have been laying the groundwork to scale significantly this year.
We transform traditional 2D flat websites into 3D virtual worlds using the power of the gaming industry.
Customers are looking for a more engaged online experiences to explore businesses offerings
We’ve achieved this across various verticals from NEOM the largest smart city project in the world to one of the largest European tech powerhouses in T-Systems
KEY ACHIEVEMENTS / NEW BUSINESS
Our 2021 was dominated by a major new client Technology and smart city builders NEOM.
NEOM is an
accelerator of human progress and human creativity powers that acceleration. NEOM is engaged in smart city building in Saudi Arabia. It aims to build an urban area NEOM, which will represent a sustainable ecosystem with towns and cities, ports and enterprise zones, research centres, sports and entertainment venues, and tourist destinations. The organisation also plans to build a car-free linear city called The Line and a new project a floating city OXAGON.
https://www.arabnews.com/node/1999681/business-economy
Our relationship is turning into an ongoing partnership with more work awarded in 2022.
Another major project was with Laval Virtual an international exhibition on virtual reality, augmented reality and immersive technologies.
Our mission was to capture the exhibition space and content in our 3D web offering in the form of an augmented map.
INVITATIONS & EVENTS
5PRING Live – in Q122 we are part of the Wayra/Telefonica 5G cohort for events.
You can read about other news. interviews and events participation of Immersionn on our blog: https://www.immersionn.com/blog
KEY HIRES
We are continuing to strengthen our team to meet the challenges of scaling. Our new key hires include:
David Peter as part of the Advisory Board
David is a Finance expert with an Engineering and Legal background. He has worked in a dozen countries around the world in M&A, Project management, consulting and as a Finance Manager for various companies in the Energy then Technology sector. He has been responsible for Finance management of multi-billion-dollar projects and is involved with various tech startups, He has a Post Grad in Law from London Met University, an MBA from St Gallen in Switzerland and Level 1 CFA.
Gordon Smith as the new Sales Director
Gordon is a People Leader with a demonstrated history of working in the Fintech & Service Delivery industries. Skilled in Payments, Merchant Services, and Business Development Management within SMB & Mid-Market sectors. He has a long track record in sales working with such companies as Yellow Pages, Thomsonlocal, Office Depot and Yoello.
Fundraising plans
We are currently in preparation for our Series A. We have run valuation model simulations to determine a reasonable company valuation. At this stage we will look to raise approximately £3million in exchange for a 10% equity stake in Immersionn. Closing the Series A fundraise will represent a significant increase in the value of the equity for our early stage investors.
Our objective with a Series A raise is to be able to scale the business faster than what we would be able to do organically. We require a dedicated sales team to build and convert our sales pipeline. Additionally we are looking to launch more products to enhance our current offering.
We will reach out to you in a separate communication of the Series A details and of course all investors will be invited to further participate.
PRODUCT DEVELOPMENTS
During 2020 we shifted from VR first to Desktop/Large screen first.
In 2022, our solution will shift to mobile first. This is a step further towards delivering 5G ready 3D discovery of businesses offerings.
COMMERCIAL PERFORMANCE
2021 was a commercial success for Immersionn. The large contracts awarded validated the business idea and demonstrated the potential. Financial highlights include:
GROSS PROFIT 350%
REVENUE 409%
Becoming profitable is a major milestone for Immersionn. We believe we can continue to be operational without requiring further major investment which is a cause for celebration!
CHALLENGES
In 2022, our key focus will be to accelerate sales productivity. We will do so by establishing a sales team and a high quality resellers/agency network. Reach out if you are interested in selling out solution.
HELP!
We are sure there are some Investors who would like to know how they can further help us!
At present our main focus is on growing the business which means we need to get our foot in the doors of as many relevant companies as possible. If you feel like we are a good fit with a company you are close to we would ask that you get in contact with our new Sales Director Gordon and let him know. gordon.smith@immersionn.com
Additionally while we are preparing for Series A you might be connected into some institutional investors or VC’s who would be interested in adding us to their portfolio. If this is the case please reach out to our Finance Advisor David to let him know. david.peter@immersionn.com
THE FUTURE
As we mentioned this year is about scaling for us. We have developed a significant sales pipeline which we are confident will bear fruit. In addition we have engaged a growth accelerator who assists us in sourcing leads and providing introductions to potential customers.
On the product front we have matured our offering and we are refining our product to offer different styles and tastes to suit different customers.
We are also working on our pricing model and trying to further optimise our commercial process to allow for scaling.
FINALLY
Again we would like to express our deep felt thanks to all our investors for your faith in Immersionn. We will endeavour to work our asses off to repay your faith in us!
We apologise for the lack of communication to date but we will commit to keep you better informed in the future.
All the best
The Immersionn Team