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imMail Ltd

imMail AI Enabled Collaboration and Communication App

Canada, Toronto
Market: Internet and IT, Education, training, Production, Artificial Intelligence, Mobile applications
Stage of the project: Operating business

Date of last change: 30.07.2020
Min investment
$  500.000
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Total required
$ 600.000
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Idea

imMail a powerful AI-Enabled instant messaging & video conferencing platform designed with team communication and security in mind.

With the addition of imMail AI engine, the company can track compliance and produce useful knowledge by processing all textual information, with a view to identifying people’s opinions (criticism, threats, and potential danger messages).

Current Status

Below are a few traction highlights:  

-Participated in the Canadian start-up battle andwe received a Silver medal from the judges led by Alexander Soroka the CEO& Founder at www.startup.network. We are now preparing for the Unicorn Cup Global Finals on July 28th. 
-Since our launch earlier this year we have grown to our 700+ companies and 10,000+ users. We are now starting to convert these free users to paid users.
-Zimbra Global Agreement offering imMail as anew featured integration to their current email platform that has more than 50millionpaid users. https://www.zimbra.org/extend/
-The imMail team has appointed a new Executive ChairmanTink Taylor who is the Founder of  www.dotdigital.com which is listed on the London Stock Exchange with an annual turnover of £116,072.

Market

We are seeing the greatest growth in the small and mid-size enterprises and educators’ segments. We also see a greater demand for large organizations owing to the need to launch digital collaboration within large distributed teams and controlling overseas businesses through time to time updates.
Our focus is selling imMail Collaboration Platform as a solution and integration, support, and training services for key projects for our AI Engine further development.

Here are a few industries experiencing the greatest growth and an opportunity lately:

-Education Sector: Remote Learning & Development
-Government Sector: High-Security Need
-Telehealth - Remote Doctors and Patient Consultation
-Small & Medium Enterprise: team collaboration and development

Problem or Opportunity

Problem 1: Employees are using Personal instant messaging apps for work. Also, these free public instant messaging apps allow users to communicate with any type of contact, share secure data, and documents. Most free IM platforms also sell data to third parties and display advertisements.

Problem 2 Data Security: Data Security is a significant concern that remote teams face. As teams move off-site, there are limited options for providing a secure communication environment. With an increasing amount of malware threats, cyberattacks and data breaches, remote teams are rightly worried about their own security. Data breaches can cause devastating financial losses and affect an organization’s reputation for years. From loss of business to regulatory fines and remediation costs, data breaches have far-reaching consequences. The annual cost of a Data Breach Report, conducted by the Ponemon Institute and sponsored by IBM Security analyzes data breach costs, they estimated the cost of a major data breach for a company between $2 and $6 million. New data security laws from Europe has inspired many imitators, from Brazil’s LGPD to the CCPA in California. While many of these laws agree on the broad terms of data protection, each implements these protections in its own way.

Problem 3 Productivity: Whether by choice or as a result of external factors, more teams are turning to remote work setups. This type of work arrangement provides many exciting opportunities, but also comes with a certain level of uncertainty. This means that remote teams are constantly looking for the most efficient way to keep their teams connected and productively collaborating. For most organizations, allowing staff to work from home is nothing new, but when the entire business is physically separated from each other for weeks (or longer) on end, this presents entirely new challenges with productivity. Difficulty collaborating with colleagues and frequent interruptions are top productivity challenges for many organizations globally.

Problem 4 Standardization: There are many employees using personal devices for communication, and this has caused an issue with data standardization, bringing data into a common format and environment allowing for collaborative research, large-scale analytics, and sharing.

Problem 5 Knowledge Management: Another challenge during the pandemic is dealing with organization knowledge and information overflow. Many global organizations are trying to harness the power of Knowledge management for solving real-world problems.
Many organizations have now implemented collaboration technologies like imMail, and this will pave the way for a more fluid knowledge sharing experience. Harnessing all realms of knowledge within and outside an organization is going to be important for survival and success.

Solution (product or service)

Our solution allows the organization to accelerate their productivity, stay connected with frictionless communication, security and AI Valuable Insights. Below are the key features and benefits:

• Seamless Communication with messages & shared content staying synced & searchable
• Secure Video Conferencing with screen sharing for up to 25 People
• Unlimited Message Broadcasting
• Document Storage Assignment & Task Management
• Intuitive User Interface & Experience Accelerating User Adoption
• Unparalleled Security Layers includes SSL, AES-256, & MFA
• Meet & Exceed Global Data Security Laws (GDPR, HIPPAA, FERPA, etc.)
• On-Premises Installations for added security and control of proprietary information & documents
• White Labeling to promote your brand or resell as part of your current product offering.
• imMail AI Engine Customized to produce useful knowledge for the user and the organization to track real time user sentiment, compliance, productivity, collaboration & engagement
• AI Bot Expert Customized to be your internal expert, coach or just look after administrative tasks

Using machine learning, imMail text analytics extracts meaning from organization data turning it into actionable intelligence. As different industries employ different means of communication, words, or phrases that have one connotation in one context might have a completely different one in another. It's nearly impossible to account for all these variations in one universal model. That's why imMail allows you to create your sentiment rules that are specific to your industry and use case.

Competitors

Zoom, Google Classroom, MS Team - Currently many companies are switching to imMail especially during the pandemic as they are looking for more cost-effective solutions and control over their data to identify valuable insights. Companies are also in need of intelligent insights on their organizational climate.

Advantages or differentiators

Our competitive advantage over the competition is price, our AI Tech, and also ease of use platform. Here are some more insights:

• Seamless Communication with messages & shared content staying synced & searchable
• Secure Video Conferencing with screen sharing for up to 25 People
• Unlimited Message Broadcasting
• Document Storage Assignment & Task Management
• Intuitive User Interface & Experience Accelerating User Adoption
• Unparalleled Security Layers includes SSL, AES-256, & MFA
• Meet & Exceed Global Data Security Laws (GDPR, HIPPAA, FERPA, etc.)
• On-Premises Installations for added security and control of proprietary information & documents
• White Labeling to promote your brand or resell as part of your current product offering.
• imMail AI Engine Customized to produce useful knowledge for the user and the organization to track real time user sentiment, compliance, productivity, collaboration & engagement
• AI Bot Expert Customized to be your internal expert, coach or just look after administrative tasks

Finance

We use a Freemium model, standard, and Enterprise including AI Engine * Customized reporting dashboard. Freemium 14 day Trials converted to Paid customers. The average cost of 1 user is $8 for the Enterprise Version of imMail Chat and Video Platform.

Business model

1. Customer Direct Sales: Freemium Model Conversion to Paid Customers after Trial
2. Customer Indirect Sales: Channel Partners, Resellers outside of Canada. Currently 5 international channel partners.

Team Collaboration Software is a $10.5B/year industry and expected to grow to $ 21B by 2027, with a CAGR of 12,7%. Due to the increasing demand for high-quality collaboration solutions, companies are shifting from traditional collaboration solutions to AI and machine learning-based team collaboration solutions.

Our global market capture plan started with a new Zimbra agreement that allows for the integration of imMail Chat & Video within the Zimbra Email Platform. Zimbra currently has 50 million-plus paid users powering hundreds of millions of mailboxes in 140 plus countries and is offered through 2000 channel partners.

By Region, we are following the Data Security Law Global Changes and Rollouts that is currently growing in SA, NA, and Europe.

Once our AI API project is complete, we will sell as a standalone product integrated with other collaboration and learning systems.

Our current plan is to move to IPO by the start of the 2022 year.

Money will be spent on

We are currently in a late seed round raise with 750,000 raised to date and are looking for investment to add additional features, automize our global support, add additional sales and marketing efforts to accelerate our go-to-market plan, and also add developers & support tech to maintain the customer journey.

Offer for investor

$600,000 K for 5% of the imMail Company. 400% return on investment by the end of 2021 pre-IPO.

Team or Management

Risks

Risk for another company to try and accelerate their AI to compete with our technology.

Incubation/Acceleration programs accomplishment

We bootstrapped the program internally.

Won the competition and other awards

Recently received Silver in the Start-Up Network Canada Start-up Battle.

Invention/Patent

n/a

Photos

Photo 1 - imMail AI Enabled Collaboration and Communication App

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video