Vennly

Vennly

End-to-end platform for enterprises to create and share secure audio both internally and externally

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Security Type
Preferred Stock
Min Investment
$998
Location
NEW YORK, NY
Offering Date
April 08, 2022
Expected Close Date
June 24, 2022
Target Raise
$25.00K-$1.07M
Security Price
$2.86
Valuation
$5,000,000
Website
vennly.co
Number of Employees
3
Cash
$94,006
Revenue
$89,705
Short Term Debt
$0
Cost of Goods
$0
Long Term Debt
$1,054,614
Net Income
$-294,107

Company Description

Vennly is a SaaS business that’s making it possible for businesses to share audio content seamlessly, privately, and securely in the flow of work. Listen here: https://tinyurl.com/mryy4s6The Problem: Businesses are searching for ways to communicate with virtual and distributed workforces but are struggling with email burnout and Zoom fatigue. A 2021 survey by Kantar shows that 83% of corporate employees want to listen to company updates as podcasts but businesses don’t have secure ways to distribute that into their work channels.Our Solution: Vennly aims to solve technical barriers by integrating audio into communications channels like Slack, Sharepoint, Notion, and Asana. With Vennly, businesses are able to share executive updates, sales enablement content, and culture initiatives to their collaboration hubs in custom-branded players with enterprise-grade analytics.Traction: Vennly has annual contracts with leading companies like ExxonMobil, Smartsheet, Macmillan Publishers, Mission Square, and SAP. We've grown average contract value (ACV) from $3,111 for contracts signed in Q1-Q2 '21 to $21,069 for contracts signed in Q3-Q4 '21. On the product side, we’ve focused on enabling secure distribution of audio content into existing platforms. Our analytics are able to provide companies with perspective on how their content is engaging with their teams. In 2022, we'll develop the Vennly audio player to provide more dynamic listening experiences like playlisting and customizable multiple-choice questions. By connecting listener insights - from content sources and listener destinations - with customizable engagement metrics (e.g. how employees answered a question associated with a specific piece of content), we believe we’ll be able to continue to drive deal size and upsells with key features.

Perks

Invest $5,000 - $24,999: Receive invite to an exclusive webinar series on the state of podcasting and digital audio for enterprise

Invest $25,000 - $49,999: Receive above perks, plus a 1-hour strategy session with the Vennly founding team on how to create a digital audio strategy for your organization or personal brand

Invest $50,000 or more: Receive above perks, plus on-call access to the Vennly founding team for domain expertise (both to provide guidance on your audio strategy and evaluate potential investment opportunities in the audio space)

It is advised that you consult a tax professional to fully understand any potential tax implications of receiving investor perks before making an investment.

Please note that due to share price calculations, some final investment amounts may be rounded down to the nearest whole share - these will still qualify for the designated perk tier. Additionally, investors must complete the online process and receive an initial email confirmation by the deadline stated above in order to be eligible for perks.

Key Deal Facts

Notable customers include ExxonMobil, Smartsheet, SAP, and Macmillan

Finalizing a content partnership with The Second City in Chicago, an improvisational comedy enterprise

Increased Average Contract Value (ACV) 6.77x from contracts signed in first half of 2021 ($3,111) to contracts signed in second half of 2021 ($21,069)

Co-founder and CEO, Brian Landau, was EVP of Strategy and Monetization at Cadence 13, a leading podcasting firm, which was acquired by Entercom Communications. Co-founder and CPO/CTO, Max Engel, has led product and tech teams at BBC and SpinMedia. Key advisor, Arie Abecassis, is a co-founder of ICONYC and his prior investments include SeatGeek, The Athletic, Adaptly, and Seamless.ai

Built custom product integration with Slack, as well as with Asana, Trello, Microsoft, Medium, Wordpress, and Drupal through Embedly

Management Team / Advisory Board Bios

Ernesto Borrio
Fullstack Engineer

Eli VIllar
Fullstack Engineer

Andres Gonzalez
Fullstack Engineer
Amount Raised : $37,957
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Security Description

Preferred securities are a type of investment that generally offers some sort of preferred treatment through a dividend or preferred treatment in a liquidation.

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