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United States, Ma... "MobilitySoftware, Inc. Industry Sector:Information Technology Location: Lowell, Massachusetts Industry:Wireless Business-to-Business (B2B) Founded: January 2000 Amount Requested: $500,000+ Investment Stage: Seed Special Criteria: None Funding Plan: 11/1/00 Accredited angel investors -RAISED- $500,000 $4.5 million post valuation. 02/16/01 Accredited Angels -Open- $500K - $1 Mil $5.5 million 05/01/01 Venture Capital -planned- $5 million + TBD Elevator Pitch: MobilitySoftware, Inc. (MSI) is a developer of wireless business-to-business (B2B) software solutions. Our goal is to provide market-proven application servers, visual tools and application frameworks to form a complete software infrastructure for bringing business to the wireless world quickly, easily and cost-effectively. Our initial product, the WorkAway Suite, enables mobile workers of medium and large corporations to access mission-critical data in real-time using wireless handheld devices. The product will enable companies to achieve tremendous cost-savings and productivity benefits, because mobile workers don’t have to be connected to the Internet to use our software, and the one-time electronic input of order information at customer sites will eliminate many hours of data entry and attendant errors. This will free sales reps from time-consuming administrative tasks and allow them to spend time generating new business. Our strategy is to incorporate our proprietary set of software engines – the Dynamic Messaging and Synchronization Engine (WorkAway Sync™) and Dynamic Wireless GUI Engine (WorkAway GUI™) – into our second product, the WorkAway Builder toolkit, which will be available in Q4 2001. We anticipate that our wireless technology will become the development platform of choice for the legions of independent software developers creating wireless applications for every vertical industry and niche market. Highlights: · Actively working with Motorola Ventures to explore relationships with partner companies and Motorola corporate teams such as PNG and iDEN. ·Delivering the initial release of the WorkAway Suite in Q1 of 2001. ·Delivering the initial release of the WorkAway Builder toolkit in Q4 2001. ·Outstanding sales-driven software company. ·Poised to deliver the world’s first wireless application for multiple handheld devices that fully functions in connect or disconnect mode, enabling mobile workers to access and exchange mission-critical data in corporate back-office systems. ·Board of Advisors includes Dan O’Sullivan (VP of Bus Dev for QuickBuy), Fran Maycock (VP of Operations, Omnibus) and Bob Sullivan (Sullivan, Weinstien & McQuay). ·Plan to close 3 beta accounts per quarter starting in Q1, 2001. Market The wireless communications industry is experiencing exponential growth, and will continue to do so for many years to come. GartnerGroup estimates that by 2003, more than 137 million business users worldwide will be involved in some form of remote work, and that budgets for mobile solutions are expected to increase to over 25% by 2001 – up from 3% of corporate IS budgets in 1996. And a recent report by Donaldson, Lufkin & Jenrette project sales of handheld devices (PDAs, SmartPhones, Palmtops, etc.) to reach over 65 million in 2005, a 486% increase from the projected sales of 2000, far outselling desktop and laptop computers during this period. Products, Services and Competitive Advantage: WorkAway™ Suite enables Mobile team members in field sales and logistics to share “live” mission critical data with their back office inventory control, order management and other enterprise applications. It is a turnkey, packaged Mobile Workforce Automation solution for handheld wireless devices and operates in connect or disconnect mode. Data is stored locally and sent once a connection is restored. The WorkAway Suite is developed in Java on the server and Windows CE and Java on the client. This provides MSI with a key competitive advantage over others, in our ability to rapidly deploy on virtually any wireless handheld, PDA, and notebook platform for our customers’ mobile workforce. Competitors: Direct competitors are: Allaire, Odyssey [ Please use our messaging system ] Customers and Key Relationships: We received our first PO from AK Steel, the largest steel manufacturer in the US and one of the largest in the world. United Liquor (UL) has entered into an agreement with MSI to be our first Beta testing prospect for WorkAway™ Suite. MSI is currently engaging with other potential prospects as beta sites. Financial Forecast ($ in thousands) 2001(P) 2002(P) 2003(P) Revenue 606 7,634 32,136 Operating Expense 5,068 9,056 14,461 Operating Income (4,462) (1,422) 17,675 Revenue Model: $5,000 per server, $120 per client, plus 17% annual maintenance and support Projected Milestones: Close additional Angel Round for a total of $1.5 Million in angel capital Deliver First Release (1.0) of the WorkAway™ Suite Q1 - 2001 File for Patent Protection Q1 - 2001 Round out Management Team Q1 - 2001 Close Preferred B – Venture Round Q2 - 2001 Build World-Class Board of Directors Q2 - 2001 Generate Initial Revenue Q3 - 2001 Deliver WorkAway Builder Developer Kit Q4 - 2001 Breakeve...
