Productbot AI

Achieved significant revenue milestone, validating our enterprise-level offering and demonstrating strong market demand for our solution at a higher price point.

Increased market traction and potential for rapid growth, with multiple opportunities to convert POCs into paying customers and gather valuable feedback for product refinement.

Expanded advisory board with industry leaders, bringing in-depth product management and data expertise to guide our product strategy and development.

Validated product-market fit and established initial revenue stream, demonstrating real-world value to customers and setting the stage for growth.

Gained strategic guidance for go-to-market strategies, leveraging Russell’s extensive sales experience to refine our approach and accelerate market penetration.

Strengthened leadership team with expertise in product development and research, enhancing our ability to innovate and meet market needs. As a strategic product development leader in many well-known tech companies like Zynga, Paypal, and Stubhub, she has been a trailblazer in helping product organizations move away from being “data rich, insight poor” by making sense of different types of data to create insights aligned with business and product goals.

I am thrilled to share an exciting milestone in our journey at Productbot AI. Today, we officially launch Version 2 of our platform, marking a significant step forward in our mission to revolutionize how product teams operate. This latest version is not just an upgrade; it’s a transformation—empowering our users with even more robust tools to make data-driven decisions efficiently.

What’s New in V2?

Enhanced Data Analysis Engine: Our AI has been upgraded to process data faster and with greater accuracy, providing insights that are not only actionable but also align perfectly with strategic business goals.

Streamlined User Interface: We’ve listened to feedback and simplified our interface, making it more intuitive for product managers to navigate and extract the information they need quickly.

Advanced Integration Capabilities: V2 offers seamless integration with a wider range of data sources, ensuring that our users have comprehensive visibility over all the relevant data.

Impact of V2 on Our Mission With these enhancements, Productbot AI V2 will redefine the standard for product discovery and analysis. Our tool’s increased efficiency and precision in handling data mean that product teams can focus more on innovation and less on the intricacies of data management. This release propels us closer to our vision of a streamlined, data-driven product management landscape.

Looking Ahead The launch of V2 is just the beginning. We are committed to continuous improvement and innovation, aiming to always provide the best solutions to our users. Your support has been instrumental in reaching this milestone, and we look forward to achieving even more, together.

Thank you for your continued trust and investment in Productbot AI. We are excited about this new chapter and the opportunities it brings.

3 mid-sized customers didn’t buy V1 but are now negotiating purchase for Productbot’s version 2. Given the current trajectory and improved product direction, many of our V1 customers saw the latest development as a major improvement on the existing product and one that elicited a great productivity use case during user research. We re-engaged with 60 high-value targets out of 1200 companies who signed up last year and are now in varying stages of working them through our sales pipeline and into paying customers for V2. Given the current capability, our V2 now justifies a higher price point and is differentiated from other AI chat competitors.

After interviewing 30 customers in our V1 product, we discovered a hole in our initial assumptions about how users wanted to access their data. After 50 user interviews, we adapted our platform to handle large-scale data inputs and refactor our RAG pipeline so that we could ingest larger data sets and analyze more information faster and with a higher degree of accuracy. We also began to build out our product design within the platform.

Productbot Ai launched publicly on 10/18/23. We grew our users 30% upon the announcement. Our Q4 goal is to acquire 150 paying customers by 12/31/23.

To learn more about our launch, read our press release:

https://www.kxan.com/business/press-releases/ein-presswire/662703118/productbot-ai-announces-availability-of-privacy-focused-ai-platform-for-accelerating-software-development/

We hit paydirt with our first paying customers only a week after launching our paid service. We have both a self-service and a high-touch sales motion. Currently, we have a projected $600K of ARR in the pipeline with direct sales opportunities.

After 3 months of running the beta, we determined our pricing and go to market strategy. We launched stripe payments to all of our active betas and will officially open to the public in October.

Engaged with a SOC2 vendor to start the SOC2 compliance process to service enterprise customers.

Registered 80 beta users on platform and averaged 30 MAUs since beta launch.

V2 launch of Productbot AI beta

Admitted into the Capital Factory Accelerator and Portfolio.

Through various outbound sales, digital marketing, and social selling we crossed 1000 beta waitlist signups.

Launch V1 of our beta.

Through various outbound sales, digital marketing, and social selling we crossed 500 beta waitlist signups.

We raised $125K from 3 angels to start the product development and go to market.