Nice work here. Your elevator pitch was well done and professional, however as a potential investor I would have liked to have been sold on you as opposed to the product itself – but I understand this is difficult as Rise 360 is already an established course-authoring product. I did appreciate the growth projections in the pitch; ROI is essentially the primary concern as an investor.
Here’s what I loved:
* Identifying the pain points was great. You cut right to the chase that authoring eLearning courses are tedious and require experience – what a timely argument! Teachers around the world are struggling to take their delivery online, something that they weren’t necessarily trained to do ( or want to). This is where Rise can help and is the edge that could take it to the next level.
* Set up intuition is important as those trying to author a course can get frustrated when things don’t make sense. Simplicity and control are difficult to put together, and without experience, it’s a hassle.
* Course development time doesn’t dictate whether someone will design a course the first time, but it *might* determine whether they’ll design another course, or work with the software again. Rise makes it conducive to repeat-use by cutting down dev time.
* Swipe-enabled courses without any added work are in line with eLearning slowly moving toward mobile delivery. Gone are the days of having to optimize your content for operating systems and screen sizes.
* I’m glad you clearly outlined the main competitors to Rise, and not only drew strong distinctions between them but offered their strengths as well. It would have been easy to suppress what they do well. It conveys honesty and a belief in the product.
* Rise doesn’t have a version saving feature, something that might contribute to adoption, frustration, then dismissal, or even just non-adoption altogether.
* You mention the two major markets, and I would have liked to see more information on these markets and their potential as buyers. Which do you think would be the most profitable – corporate training or educational institutions?
* You’re asking for $500,000 for a 20% stake, which seems conspicuously low.
Verdict: Rise is an existing product, and a strong one at that. You convey a lot of important information that an EVA would need to make a sound judgement of investment. Based on your elevator and venture pitch, an established brand with reach, and more importantly your company valuation of $2.5 million, I would certainly invest in Rise.