Question 1

What the different between this round and the one at SeedInvest year ago? https://www.seedinvest.com/SapientX/seed

Accepted Answer

Hi Bryian. The raise is similar to our 2018 SeedInvest raise in that both are crowd funding raises and that both group investors into an LLC that votes as one. The main difference is that SapientX is further along in developing its customer base, our software has added 39 new languages and other features important to our customers and because of this our stock has increased about 28% despite the downturn in our economy.

Question 2

Hi - Very interesting company. A few questions. 1. You state that speech recognition was poor in 2009 and had to wait for it to improve, but aren't you the ones building the technology? Which components of your product is proprietary and which are from third parties? 2. Are th...

Accepted Answer

Hi Jeff1. At the time, we relied on third parties for speech recognition and synthetic speech. Unlike others, we started with natural language understanding (NLU) on the premise that you should be able to speak naturally to devices without having to learn commands. Other systems are based on key words and never have any comprehension of what a user is saying. Today, we control our full software stack and use partners if appropriate.2. Some prototypes are paid some not. Our goal is to bui...

Question 3

David, Thanks for your quick reply. Do your revenue projections in the pitch deck reflect the delay caused by COVID-19? If not, how much do you need to push back these projections?

Accepted Answer

Hi Jeff. Yes, we reduced our 2020 projections by about 40% to account for Covid delays. We have an auto industry study that estimates US auto production to be -25% this year, but +33% next year.  No one know what the real impacts will be but this weeks jobs numbers seem to show that companies are getting back to work.

Question 4

Hi there, You mention in the attached deck that you avoid competing in markets against google and amazon. Would you mind delineating those markets for me and explaining your plan to continue this strategic avoidance? For the latter question, I'm thinking about Google and Amazo...

Accepted Answer

Hi Tristan. It's important to remember that Google and Amazon developed voice assistants to collect information on users to help them sell products and to re-sell this data to third parties. Where they choose to place these assistants is predicated on this. That leaves many market areas for us. Let me explain.Accuracy - Our customers need accurate responses to user requests. We deliver this. The tech giants can't deliver this because their systems give wrong answers about one time in four. If...

Question 5

Why have you gone the crowdfunding route instead of the VC route? I would imagine if the product(s) is cutting-edge, VCs would be knocking at your door begging to invest.

Accepted Answer

Hi Calvin. VC's may say that they invest at a seed level but the truth is that most wait until the Series A. Most Series A's don't begin until a company begins to ship product... which we hope to do later this year. We are fortunate to have 20+ letters of interest from top VC's and verbal interest from many more. We have also been contacted by M&A teams from Samsung, Amazon, Volvo, LG, Cerence and Toyota which is great but they admit that they rarely move on a company until afte...

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