on May 16 2014
I recently had an awful customer service call to Thrifty Car Rental. The agent couldn't understand that "Roncoroni" was just one name, and not "Ron Coroni." Needless to say, I lost my reservation. So I thought to myself, businesses NEED this information. What if, instead of "WIRELESS CALLER," businesses had my name, address, email, and other valuable data in real time? When I realized businesses spent $15B every year to get this information, I quit my job and started Next Caller.
Last year 29.4 billion calls to customer service required a human to manually identify the caller and get the spelling of their name. It costs 52 cents to gather this information. So, in 2013, businesses spent $14.9 billion to as callers how to spell their names. This is the money businesses will be paying us for our product. And that's just the US
We wanted to make this affordable for everyone. This isn’t only a solution for big businesses, but for small ones too. We only charge 10 cents per successful identification, so the customer only pays when we provide value. We have no other monthly costs, no setup fees, no maintenance - no bullshit.
We’re raising a round to rev up the development and sales teams. Our sales team isn’t big enough, we can’t handle the inbound leads we’ve got. Our integrations team isn’t big enough - we only have one person and want to get our customers live as soon as possible but just don’t have the resources to do that.
Right now we’re focused on SMB because it’s self serve recurring revenue. But the big revenue will come from enterprise clients, which can generate from $7,000 - $20,000 per month, while it might take several hundred SMB clients to generate close to that. We're currently working on integration with 7 of the Fortune 50.
We have no competitors outside of outdated, traditional caller ID.
Our goal is to make business over the phone as easy as it is online.
We recently landed two native integration deals with two of the largest customer service companies in the market. Zendesk and Nextiva together have over 120,000 business customers. When these go live in Q2, we'll be available to all of those customers with the flip of a switch. Not only does this help us acquire customers for free, native integration prevents future competitors from gaining market share.
We have the largest database linking US phone numbers to consumers, boasting over 220 million profiles. We acquire this data in a number of ways. We get information directly from phone carriers. We also normalize data from a host of sources, like DMV, utility, and credit data. We also have a consumer opt-in on our site that allows users like us to enter their personal information for better service.
Traditional caller ID is in DESPERATE need of innovation. It's over 40 years old, and can't even identify wireless callers. Land lines are able to transmit what's known as CNAM data, or the characters associated with a telephone. Cell networks don't have the required infrastructure to transmit this data, which is a big problem. And since cellphones outnumber landlines 6-1, businesses know less and less who is calling. With Next Caller is the answer to this problem. We are an advanced caller ID API in the cloud, instantly providing rich profile data to businesses in real time.
Our customers are always finding new applications for our data. We've become an important tool for sales teams, too. When businesses miss phone calls and get voicemails, our platform identifies those inbound leads, and provides contact information for those potential customers. This allows our customers to convert more leads into sales. We allow an agent to call back with a solution rather than an inquiry.
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