Adact – Investor Update

Investor Update Q1 2020

Summary

You might remember us from events like Techchill 2020 where Adact won B2B track of 50 Founders Battle or Startup Wiseguys Demo days as Adact became Startup Wiseguys Alumni March 2020. Or perhaps sTARTUp day, Arctic or Wolves Summit?

Unlike old friends saying “We should get a beer sometimes” and never do, we told you we’d keep you up to date and we will.

Some might know us back from Oct 2019 when we had a hardware+software business (hopefully not too many of you). We got rid of hardware completely. This event was celebrated by everyone at the end of December.

We pivoted to a full SaaS platform which enables brands and creative agencies to create game based marketing campaigns without writing any code

Instead of explaining what we do we made a short demo for you.

Now to a more structured overview of our progress

Adact team

Summary

Unlike old friends saying “We should get a beer sometimes” and never do, we told you we’d keep you up to date and we will.

We pivoted to a full SaaS platform which enables brands and creative agencies to create game based marketing campaigns without writing any code

Instead of explaining what we do we made a short demo for you.

Now to a more structured overview of our progress

Enjoy

Adact team

Achievements

First lines of code in January and having a usable MVP by mid February.

First large scale campaign launched –

92% lead collection conversion rate.
270 leads in 24 hours

First paying customer March 28 – 450€ MRR

First hard-commitment by angel investor Jaak Ennuste.

Corona

How did corona affect us

Most of our early adopters got hit hard by Corona as they were mostly retail brands, cinemas or malls.
Changed our focus to E-commerce, Legal and Influencer partnerships .
We see Corona crisis as an opportunity not a blocker as there’s a lot of companies winning from this or moving their marketing budget to online.

Struggles

At one point we need to rewrite the front-end part of the code to be able to scale 1000x.

Before that rewrite we need to do hand-holding for our first clients. That in turn is time consuming and hinders our ability to grow faster.

Pouring development resources to places we need to rewrite anyway is not reasonable.

Ask

We are raising a bridge round of 75k that would result in a self-service product and scaling our sales and marketing effort.

We will reach €4-5k MRR by October with the bridge round which will enable us to raise a seed round for 18 months runway at a considerably higher valuation.

We are actively looking for investors for the bridge round.