Apsy Q3 2023
Building Today, Scaling Tomorrow
Product Roadmap
The second quarter of this year marked a pivotal moment in the evolution of Apsy. We successfully launched a robust, end-to-end pipeline at the outset of the quarter, which has since facilitated the creation of over 100 apps.
This accomplishment serves as tangible proof that our vision of an AI-powered app developer is not merely aspirational, but a reality. Despite facing economic headwinds that necessitated a leaner team, we've managed to achieve significant milestones in both sales and product development with minimal capital. As we approach our upcoming seed funding round, we are optimistic about the potential for exponential growth and are excited about the prospect of establishing a strong market presence.
Key Additions to Our AI App Builder—Code Name: Gamma
Intelligent Ideation Session: Streamline your brainstorming process with AI-guided suggestions.
Diverse App Models: Choose from a wide array of templates and frameworks to suit your specific needs.
Advanced App Features: Incorporate cutting-edge functionalities to make your app stand out.
Co-Building: Collaborate in real-time with team members to bring your app to life.
Intelligent Content Generation: Automatically generate relevant and engaging content for your app.
Wins and Recognitions
The second quarter was a period of remarkable achievements for Apsy, punctuated by several prestigious recognitions and significant milestones:
European SummerSaaS Victory
We are thrilled to announce that Apsy emerged victorious in the esteemed European SummerSaaS competition. The event featured two rounds of pitching across five categories: Vertical SaaS, Health Tech, Horizontal SaaS, Fintech, and Dev Tools. Competing against early-stage startups that had previously secured pre-seed funding and participated in top-tier accelerators like Techstars and Y Combinator, Apsy not only won in the Dev Tools category but also clinched the grand final. We look forward to connecting with our European community at the upcoming SaaS Open conference in Dublin.
Google's AI Startups Program
We were honored to gain admission into Google's AI Startups Program. This recognition comes with a plethora of benefits, including $350K in Google credits and early access to AI tools that can significantly enhance our product offerings.
Formal AWS Partnership
Our commitment to excellence was further validated as we achieved a formal partnership level with AWS. This was made possible by obtaining more than ten certifications and generating over 10K in monthly consumption on AWS. This partnership has paved the way for co-selling opportunities, and we have already collaborated with AWS sales to secure contracts with more than ten organizations, resulting in approximately $100K in sales capitalization awards.
Steady Revenue Growth
We are pleased to report that our Annual Recurring Revenue (ARR) exceeded $700K. This growth was fueled by two key initiatives:
1. Fully Automated Builds: Our platform autonomously builds and publishes apps, requiring zero intervention from our team. This approach not only yields high-margin revenue but also represents our long-term vision for the future of app development.
2. Hybrid Builds: Tailored for larger organizations seeking custom features, this approach combines automated builds with expert customization. The advantages are threefold: it enriches our platform by making custom features reusable, it adds build revenue on top of subscription fees, and it benefits from AWS sponsorship, thereby reducing costs for our clients while boosting our revenue.
What to Expect in Q4 and Beyond
As we ride the momentum of an exhilarating Q3, we are in the advanced stages of our seed funding round, engaging in promising discussions with several venture capital firms. The capital raised will be strategically allocated to achieve the following ambitious objectives:
Exponential Growth
While we take pride in our consistent growth trajectory over the past two years, we are far from complacent. Leveraging our proven go-to-market (GTM) strategy and the ever-increasing maturity of our product and supported sectors, we aim to double our Annual Recurring Revenue (ARR) by year's end. This sets the stage for even more accelerated growth in the years to come.
Expanding App Modalities
For the last two years, our primary focus has been on mobile apps, owing to their high demand and the complexity involved in their development—a barrier keeping competitors at bay. As we transition into Q4, we are excited to announce the addition of web app development capabilities to our platform. By year's end, users will be able to build apps across three platforms—iOS, Android, and Web—simultaneously.
Sector Diversification
The versatility of our platform is directly correlated with the range of sectors it can serve. With our technology and processes reaching maturity, we are rapidly expanding into new sectors each month. Building on our existing strengths in e-commerce, social networking, dating, marketplaces, and productivity, we plan to venture into the following sectors by the close of 2024: event organization, personal portfolios, lifestyle, ordering and delivery, digital health, and fitness.
Do you have any questions or feedback? Feel free to email us at info@apsy.io or visit our website.