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LogicDialog

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A no code platform making it easy for business to build powerful Generative Conversational AI Solutions.

102%
 - 
Funded 2 May 2023
£600,022 target
£616,669 from 585 investors
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Business overview

Location cardiff, United Kingdom
Social media
Website www.logicdialog.ai/
Sectors SaaS/PaaS Digital B2B
Company number 10899737
Incorporation date 4 Aug 2017
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Investment summary

Type Equity
Valuation (pre-money) £10M
Equity offered 5.78%
Share price £22.68
Tax relief

EIS

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Business highlights

  • £2m+ contracted revenues*
  • International clients across 10 verticals
  • Multi award-winning
  • Chat GPT-3 integrated
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Key features

  • Secondary Market
  • Nominee investment min. £22.68 +
  • Direct investment min. £25,000.00 +
  • Idea
  • Key Information
  • Team
  • Updates
  • Investors 585
  • Discussion
  • Documents

Idea

Introduction

LogicDialog is a multi-award-winning Generative Conversational AI platform used in multiple sectors to boost employee productivity, improve customer service, reduce operational costs & increase profits.

Leveraging the latest Generative AI technologies like Chat GPT-3, LogicDialog is addressing two core business problems which combined cost businesses $12.5 trillion globally; low employee productivity, and poor customer service.

Having generated over £2m in total contracted revenues, we're on a mission to place Generative Conversational AI at the heart of every organisation regardless of size or sector.

We believe that LogicDialog's unique 'no code' interface & integration marketplace means businesses can easily build, integrate & launch multichannel, multilingual, multifunctional Generative Conversational AI solutions that automate tasks across Customer Care, HR, Sales, Marketing, IT Helpdesk & more.

We believe we can build a $billion business this decade by following the T2D3 principal.

Substantial accomplishments to date

With recent developments in Conversational AI (like Chat GPT) it's clear that we're past the 'hype' phase, and AI is starting to deliver!

We believe an early-stage company applying Generative Conversational AI at an enterprise level, (but isn't yet valued in the hundreds of millions) is a rare opportunity.

We are that company, and this is that opportunity!

Here's a recap of what we've been up to...

Revenues
• £2m+ overall contracted revenues*

Clients
• Government
• Utilities
• Financial Services
• Charity
• Sports
• Insurance
• Education
• Transport

Partnerships
• Agilisys
• Boxxe
• 8x8 NOTE: preferred conversational AI partner.

Product:
• Launched integration marketplace
• Hired ex IBM 'master inventor' as Product Director
• ChatGPT3 implementation
• Interface redesign
• Gartner Magic Quadrant NLP integration completed (RASA)

Awards:
• StartUp of the Year Winner '18
• Technology Start Up of the Year (Sir Michael Moritz Award) '19
• Tech Nation Rising Stars Winner '20
• Best Public Sector Automation Firm 2021
• Top 5 Global utility chatbot platform 2021
• Tech Nation Applied AI Accelerator 2022
• PwC Transport Scale Accelerator 2022
• Listed by Sifted as one of Europe's top 150 generative AI firms - 2023

Accelerators:
• Oracle Cloud Accelerator
• Tech Nation Applied AI Accelerator
• PwC Transport Scale Accelerator

Accreditations:
• ISO27001
• Cyber Essentials

Government Procurement Frameworks
• GCloud
• SPARK
• AI
• Automation

Founder/ Company coverage
• Forbes
• BBC
• ITV
• TechNation
• Tech Crunch

Monetisation strategy

LogicDialog is a B2B SaaS platform sold as an annual licence, with the average licence length being 3 years.

Licences are paid annually in advance, and in terms of recurring revenue vs straight revenue, the split is thus: c85% recurring licence revenue and c15% deployment fees.

We do plan to penetrate the SME market too with a pay-as-you-go monthly model with no commitment licence fees starting from £75 per month.

We aim for this to help us to compete with the likes of Intercom which offer self-serve products that command very little technical overhead from the vendor and can generate significant predictable revenues. We believe our product is ready for this lower-level market penetration and the strategy will complement our continued enterprise activity.

Use of proceeds

We're currently raising up to £1m at a £10m valuation.

Funds will be used primarily for sales and marketing, with some allocated to tech team growth, and some for working capital/ runway extension.

The raise will allow us to leverage the huge market appetite for Generative AI tools like ours, as well as deliver a number of partnership client opportunities (having recently been signed as 8x8Inc.'s preferred conversational AI partner).

It will also help us to faster close our significant pipeline, and finally penetrate the lucrative SME market.

In a time of increasing uncertainty, where job cuts are happening at the most seemingly robust of tech companies (Microsoft: 10,000, Amazon: 18,000, Salesforce: 7,000, Meta: 11,000, Twitter: 3,700), we're raising capital to grow the team, embrace the surging interest in Generative Conversational AI, and ensure we're well positioned to deliver for our partner network.

Key Information

Debt

The company has the following outstanding loans:

£48,000 bounce back loan at an interest rate of 8% per annum. The loan was taken out on the 6th of May 2020 and is to be repaid on a 'pay as you grow' scheme.

The funds raised from this investment round will not be used to repay these loans.

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If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

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Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This campaign for LogicDialog has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 10 March 2023 as a financial promotion. Republic Europe is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. In approving this campaign, Republic Europe has concluded that the information, taken as a whole, is "fair, clear and not misleading." This means that for factual statements we have reviewed evidence of their accuracy, and that for aspirational statements we believe they are phrased appropriately in light of their speculative nature. You should note that in the case of factual statements, the evidence we review is provided by the business, and we do not audit it, which means that we may not be able to identify forged or altered evidence. You should further note that in the case of aspirational statements, the nature of the type of businesses presented on the Republic Europe platform is such that they are likely to have high ambitions, and we may approve statements that convey those ambitions even where we do not believe, or we do not have a view on whether it is likely, that they will be fully realised. The pre-money valuation and investment sought in the campaign are those set by the business: they are not reviewed or established by us, and the valuation is not an independent view of what the business is worth. Given the nature and type of businesses presented on the Republic Europe platform, it is possible that the business has very little cash remaining prior to receiving this investment, and the investment sought may be necessary for the business's on-going existence.

Republic Europe does not make investment recommendations to you. No communications from Republic Europe, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Republic Europe does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Republic Europe, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £10,001,449

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs

Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

Nominee investment

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Nominee investment.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

A security token is a digital asset that represents ownership or other rights. It is a digital form of traditional investments. In the future, you may be able to trade your investment through compatible exchanges.

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