Introduction: AI first company building a vertical SaaS product to power through and make answering Third Party Vendor Risk Management Questionnaires pain free. I have a provisional patent in progress. We need $1 million funding to get the SaaS product online. Our initial product will have two aspects, a conversational AI, CompliBot, that is an expert in compliance and CompliForm that will automatically fill out those frustrating vendor questionnaires.
Team: The co-founders of Trusted AI Solutions include Mike Addison who has 40 years of experience in AI/ML and Debra Baker who has 30 years in cybersecurity and compliance. The rest of our leadership team includes:
Anita Luthra, VP Head of Innovation and Technology
Problem: The average company spends $2 million and 15,000 hours on filling out third party vendor questionnaires. The market is 24 billion.
Solution: We uniquely solve the problem using Artificial Intelligence to automatically fill out the forms. We not only fill out the forms, but we provide remediation guidance and will open up a ChatGPT style chatbot with the LLM to ask any compliance question both written and verbally.
Business Model: We will create a vertical SaaS that hosts the LLM and fills out the forms. For larger enterprise customers, we will provide a private LLM. We also will provide expert AI services.
Competition: HyperComply, Vendict, SecurityPal
Vision: We will provide expert compliance guidance. Debra has 30 years in information security and compliance. Mike has been a CISO and has 40 years experience in AI. Mike created the AI code for Epic that is still used today by first responders. We have the expertise to deliver like no one else. Together we will go above and beyond simply answering questionnaires and the competition by providing holistic compliance guidance along with filling out the vendor assessment questionnaires. We will create a Self-Service questionnaire process relieving the burden off of our customers. CompliBot will be a living compliance knowledge base for our enterprise customers giving holistic compliance advice saving them time and money with the complexities of compliance. For our regular SaaS customers, CompliBot will be the ChatGPT/Google of Compliance where everyone goes for the most precise, documented, and footnoted compliance guidance. We will provide automated completion of STIG forms which no one else provides.
Traction: Debra has a provisional patent in progress for both CompliBot and CompliForm. We have one free customer working with us who is allowing us to use their security policies and documentation as well as practice forms. We have 3 potential paid POC customers. One is a Fortune 100 company, one is Fortune 500 company, and one a medium sized startup.
Funding Ask: $1 million to get the CompliBot and ComplForm SaaS online.
Projections: $2 million revenue the first year and $5 million by year two, $10 million by year 3.
What's Next: We have several other products that will follow such as CompliPolicy, CompliVendor, and CompliPenTest