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Voice Biometrics mobile app ready for growth

Business Details

Short Description

MVK is a unique application that is the first to use world-class voice biometrics to secure personal data and authenticate the user. It has been launched on Google Android and Apple iOS and we have over 1500 downloads already and growing. This product has a huge addressable market for which we need marketing funds.

There are many product features and extensions in our plan that will drive additional revenue and we plan to extend the concept to other enterprise based applications.

Our market is worldwide and we can scale the business.

Executive Summary

EXECUTIVE SUMMARY


VRAI owns a fully developed and revolutionary mobile security application which has been launched on Google Playstore and Apple iStore. VRAI has the worldwide, exclusive rights to MY VOICE KEEPASS (MVK). It is the first ever mobile application to use voice biometrics and multiple locking devices for securing personal data.

VOICE BIOMETRICS
Voice Biometrics (VB) is a digital representation of how a person speaks. A person?s ?voice print? is virtually unique and, like a fingerprint, can be used to accurately identify them. This has huge applicability over the phone and is user friendly.

INVESTMENT OPPORTUNITY
VRAI is keen to realise the high profit margins identified in its business model, which are reliant upon the implementation of the product development plan and the marketing plan.
Investment will enable product development enable completion of various platform upgrades, and enable the implementation of the comprehensive marketing plan to drive immediate sales.

MANAGEMENT
Vrai is run by two co-founders each with over 10 years in speech technology software. The CEO has run a PLC business and the CTO has successfully developed complex software platforms. We have a board advisor who is an ex Vodafone executive.

MARKETING
These are the elements of the marketing plan:

? Scaling up the initial low-cost campaigns on Google Adwords (sub £500) and on Facebook. By engaging with third parties, VRAI has the capacity to massively expand marketing reach.

? More extensive use of PR distribution services such as Cision, to enable VRAI to directly access top blog-writers and key influencers.

? Promotion of the current MVK Android v1.0 application on Google Playstore, with continued opportunity to promote successor versions of the Android and Apple MVK application

? Developing a referral sales model that benefits users who share the MVK experience with others

? Continued growth and presence on social media creating user validation and product awareness

? Potential and highly targeted banner advertising campaigns

Published data indicates there are currently in excess of 5 million users of password manager products alone and this figure is growing quickly.

VRAI anticipates that high volume sales in the consumer market will have significant impact on the enterprise market. The availability of the MVK application in a multitude of languages, enhances the global appeal of the product, and is an attractive option to international companies and organisations, with global and internationally mobile users and customers.

PRODUCT DEVELOPMENT
VRAI has partnered with Agnitio, the leading voice biometric technology provider for security services worldwide and offers the highest accuracy level of any known biometric platform.

Additional external resources will also enable VRAI to look at language versions of the product sooner than expected but the product build-out, which is being carried out with the least amount of spend, has a number of converging developments that all require focus in the coming twelve months.

There are more highly innovative technology releases for 2015:

? A device independent VB environment ? multi-device and multi-channel access to the VB environment using a single BVP (biometric voice print)
? A device dependent VB environment ? high precision verification from a dedicated device surpassing all current performance levels, which are already the highest in the market. This also has security benefits because the voice and the device it is used on combine to authenticate a user.
? Leading edge anti-spoofing technology (impersonation and liveness detection)

FINANCIAL
The start-up of Vrai Mobile as an incorporated company was successfully completed with £100,000 of funding. The development and marketing plans take the business into profit around the end of 2015, with profit of £190K in 2016 and £450K in 2017. Milestones so far:

? Acquisition of MVK IP and completion of version1.0
? Successful launch of MVK on Android
? Successful product reviews
? Lowered operating costs
? Launch of Apple version of MVK
? Development of internet marketing methodology

VRAI operates a subscription model for MVK costing £6.99 annually. VRAI will have at least four revenue streams operational by the end of 2015:

? MVK Android product
? MVK iOS product
? Picture-lock product
? MVK enterprise custom and white label sales

Funding
The requirement is to find interested parties that are able to invest £200K (20% post money) to accelerate growth. Based on the attached projections, the Company expects to be generating net cash from Q4 2015. There is £105K of SEIS eligible investment.