Question 1

I invested in the prior round on Republic. Can you provide a few more details regarding financials? In this raise and the prior Republic raise, you mention the $10K MRR. However, in the first six months of 2019, you only achieved $41K in revenue which would suggest that Clouda...

Accepted Answer

Hi Nathan! We're not even live yet, you are a great detective to have found our site. Nice work. To answer your questions: 1) Our revenue is chunky. Most accounts are annual pre-pay and our single largest one is quarterly. 2) We decided to focus on R&D and get Tagger (object detection) and Face Recognition done before we go back to selling. Tagger is done and Face Rec is working in demo (and, if you see our other post on Republic, we did a wreck and rebuild of Face Rec so that's taking lo...

Question 2

What was the valuation cap on your prior round on the other platform mentioned by Nathan?

Accepted Answer

Hi Barnaby, you all are killing me with your interest when we're trying to be in stealth mode before our launch :-) Seriously, though, happy to answer, it was $7M. We think we've made signification progress since then so the price is reasonable. We'll have more info on our previous campaign and start making our updates here, as well as get all recent ones up here too, as soon as we go live. Please stay tuned!

Question 3

What percentage of the time is your facial recognition search wrong?

Accepted Answer

Hi Kevin, we haven't quite launched here yet but have a recent update from our last Reg CF here. We will cross post it here after we launch, but you're welcome to check it out early: https://republic.co/cloudastructure-rick-bentley-progress-hi-everyone-we-and-39-ve-been-crazy-busy

Question 4

Hi Rick, Why are you raising so soon, just 5 months after the previous round? Thanks.

Accepted Answer

Hi Helen, We're new to Reg CF's. We raised $380k in our last raise on Republic. That's good, put us in the top 10% of their enterprise companies, but it's not a lot when you're competing against billion dollar incumbents. We felt that there was still demand for investment in us, so we're rolling into another one. It will be about 9 month from the close of the last one to the close of this one, so we don't think we're doing too badly :-)

Question 5

Also, How did $130K revenue generate a much bigger net profit $837K? Is there a typo? Thanks.

Accepted Answer

Hi Helen, sorry for the delay, we're getting ready to go live on here and wasn't looking out for Q&A yet. I had some debt to the company that I forgave to clean things up for investment, the accountants insist that was recognized as revenue. It's still good for the company, just not as good as revenue!

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Facial Recognition, AI, Machine Learning for Cloud-based Video Surveillance

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