iDeare inc. is developing a revolutionary AI aided sales enablement and design software for the Kitchen and bath remodeling industry.
Overview:
iDeare Inc. introduces VeraAI, a revolutionary sales enablement platform for the home remodeling industry, specifically targeting kitchen and bath remodeling projects. VeraAI is designed to streamline and enhance the design process through advanced technology, making it simpler, faster, and more efficient.
Problem Statement:
The kitchen and bath remodeling sector traditionally relies on complex and manual design processes, characterized by:
- Overly complex tools.
- Lengthy design and selection processes.
- Low ROI on marketing efforts.
Solution - VeraAI:
VeraAI addresses these challenges by providing a cloud-based platform that integrates AI Design Guidance, Photo-Based Room Analysis and Measuring Tools, and an Accelerated Design and Selection Process. This allows remodelers and designers to:
- Navigate design choices efficiently, ensuring optimal aesthetics and functionality.
- Kickstart projects with accurate floorplans from simple uploaded images.
- Fast-track client decisions and project timelines, significantly condensing the decision-making process.
VeraAI ROI:
Implementing VeraAI results in:
- An 85% faster development of accurate designs, project bids, and estimates.
- A 30% increase in deal sizes by showcasing premium design offerings.
- A 65% increase in bid-to-contract conversion rates.
- Over $500,000 in additional annual profit by creating efficiencies that increase margins and reduce profit killing mid project changes and redo's.
Market Focus:
- Total Addressable Market (TAM): 593,057 remodeling businesses in the U.S.
- Serviceable Available Market (SAM): 70% of these businesses take on kitchen and bath jobs.
- Serviceable Obtainable Market (SOM): Targeting 10% of individual licenses in the U.S. market.
Business Model:
VeraAI's pricing strategy is tiered based on the number of licenses, starting at $2,795/user/year for 1-4 licenses, $2,595/user/year for 5-10 licenses, with custom pricing available for enterprise clients.
Competitive Analysis:
VeraAI distinguishes itself by offering:
- AI-aided design processes.
- Seamless 3D renderings and VR experiences.
- A no-learning-curve approach makes this software available to a larger audience.
- Automated spatial measuring reduces mistakes typically found with manual measurements.
Our Team and Credentials:
iDeare Inc. is led by a powerhouse team whose deep expertise spans technology, sales, finance, and the remodeling industry, making us uniquely qualified to launch VeraAI, our groundbreaking platform.
Andrea Dattilo, Co-founder and CEO: Andrea brings a rich background in sales enablement tools and technology solutions, having graduated at the top of her class from the University of Central Florida (UCF). Her impressive career includes impactful roles at The Hackett Group and Medifly, where she developed and implemented sales enablement tools for Fortune 500 companies, including Moen. Andrea's blend of academic excellence and professional experience in high-stakes environments equips her with the leadership and vision necessary to steer iDeare Inc. towards industry leadership.
Jeffrey Esposito, Co-founder and COO: With 27 years of experience across sales, finance, and the remodeling industry, Jeffrey's contributions are invaluable. His recent focus on Sales/Design for the remodeling sector, where he successfully sold over $14 million in remodeling projects, demonstrates his profound understanding of the market and its challenges. Jeffrey's hands-on experience and strategic insights into sales and operational efficiencies are critical to shaping the development and implementation of VeraAI.
Industry Leaders in AI and Software Development: iDeare Inc. also prides itself on attracting top talent in artificial intelligence and software development. Our team comprises industry leaders whose innovative work at the intersection of technology and design underpins VeraAI's advanced features. Their expertise ensures that VeraAI is not just a tool, but a transformational platform that redefines remodeling project management and design.
Why We're the Perfect Team:
Our team's unique composition of technology aficionados and industry insiders position iDeare Inc. as the perfect catalyst for change in the remodeling industry. We understand the nuances and intricacies of the construction and remodeling sector intimately, thanks to Jeffrey's direct experience and sales achievements. Simultaneously, Andrea's background in deploying advanced sales enablement tools for top-tier companies assures that VeraAI incorporates the latest technological advancements and user-friendly design principles.
This blend of in-depth industry knowledge and cutting-edge tech expertise makes our team exceptionally equipped to bring VeraAI to market. We are not just developers of a product; we are pioneers poised to introduce a game-changing platform that addresses real-world challenges in the remodeling industry from both a technological and practical standpoint.
By marrying our comprehensive understanding of the construction world with state-of-the-art AI and software development, iDeare Inc. is set to revolutionize the way kitchen and bath remodeling projects are conceived, designed, and executed. Our leadership and team are the driving force behind this transformation, making VeraAI the tool that the industry has been waiting for.
Financial Projections:
- Initial focus on the Florida market with 36,000 remodeling businesses, aiming for a 10% market penetration.
- Expansion into Texas, California, and New York with 159,100 remodeling businesses targeted in the second stage.
- Projected significant revenue growth from the September 2024 launch, with figures scaling from $0 to $20 million by 2027.
Fundraising:
- A $2MM round is planned, allocating funds towards software development (60%), go to market (20%), and legal, accounting, and insurance needs (20%).
Conclusion:
iDeare Inc.'s VeraAI represents a significant leap forward in remodeling industry technology, promising to dramatically improve the efficiency and profitability of kitchen and bath remodeling projects through its innovative AI and VR-enhanced platform.