1. RealSpeaker - Executive Summary
(www.realspeaker.net audio-visual speech recognition)
RealSpeaker Inc:
19901, 11 South Dupont, Dover, DE,
USA
E-mail: ovi@realspeaker.net
Company Details:
- Founded in January, 2012
- 5 employees
- Ownership: Private
Funding:
- Current Burn Rate - $1M
- Seeds
Round: $0,5M in 2012-2013
o $0,3M – in 2012
o $0,2M – in 2013
- Seeking 1st
Round: $1,0M
Use of Proceeds:
- To transfer base from local to
flexible server, creating more pure
architecture with Web 2.0 language
base principle
- Support opportunity to download
and analysis audio-video files
- Checking of business model
Product Development Cycle:
- Development began in December
2011
- Beta – 9th
of September 2013, at a
cost of development of $0,3M
- Breakeven point – November 2013
- Commercial Production expected to
begin in August 2014
o Funds required from Beta
testing to production
expected to be $0,5M
- Funds required from commercial
production to profitability expected
to be $0,5M
Revenue:
- 2012: $0,025M
- 2013: $0,1M
- 2014: $1M
- 2015: $15M
- 2016: $100M
Competitive Advantage:
- High accuracy speech recognition
- More safety
- More usability and cheaper
Management Team:
- CEO/Founder: Viktor Osetrov
ru.linkedin.com/in/realspeaker/
- CTO: Artem Smirnov
ru.linkedin.com/in/temasm
Company:
RealSpeaker Lab develops the audio-visual speech recognition
application RealSpeaker.
Our solution uses additional video information, which allows as to
improve voice recognition accuracy by at least 20-30 per cent. This
makes our patent pending technology way ahead of existing
competitions.
We have released beta version of our product for Windows OS, which is
currently in use by about 250k users, out of which 2k users are paid
users. In this year we are going to reach over 1M downloads with a
revenue over $1M
Marketplace:
According to TechNavio currently, only 15-20% of the speech
recognition market potential is used. The total expenses on speech
recognition technologies developing in the world in 2010 were estimated
at $1000M and in 2010 the speech recognition market will reach the
point of $2500M (+25% per year) in 2016.
Problem:
Today most audio speech recognition solutions have severe limitations,
such as: sensitively to background noises; difficulties’recognizing
individual words; users must speak in an un-natural fashion using
fragmented speech; they required broadband Internet connectivity; and
with an accuracy of less than 60%, not saying that they are painful to use.
Product Offering:
RealSpeaker addresses the problem by enhancing the speech recognition
with video analysis of the user’s lip movements. With RealSpeaker you
can: enter text of any length with the voice and video without keyboard
at any text editor or website (Notes, Facebook, Skype, Evernote, E-mail
and Microsoft Office etc.); Support of 13 main languages; Some
functions of voice navigation (editing and sending).
Differentiation:
US Patent 13/942,689: “System of video enhancement for audio speech
recognition solutions to improve the accuracy of audio speech
recognition due to the analysis of speaker lip movements”
Partners:
Our team is supported by such organizations and institutes as Microsoft
Seed Fund, Skolkovo, Startobaza, Kazan IT-Park, StartupSauna and 2
business-angels from the US. We have NDA with Samsung, LG, Toyota,
Itouchu. Right now, we are looking for partners as well as investors for
our round "A" which will be used to further R&D and marketing.
Business Model: Try & Buy
Free version – can recognize speech to text for 3 days;
1 % conversion. 250 k free users, 2 k paid users in April of 2014
Paid version for: 1 month ($12), 3 months ($26), 6 months ($31), 12
months ($44), unlimited time ($89)
We have special panel for software vendors.