Team-GPT Investor Report - Jan 25
Real investor report
‘How are your investors ok with you posting all this on LinkedIn’ - a friend asked me.
‘I guess that’s why they backed us in the first place’ - I replied.
Here goes our latest investor report.
January was about planning out 2025, doing some R&D, exploring the Saudi market, and shutting down v1 (effing finally!).
As of 1 Feb 2025:
ARR: ~$415,800 (all time high)
#Users: ~44,161*
Money in the bank: $ 3,710,831.08
Burn rate (approx.): $197,011 (spent in Jan)
Runway: ~19 months (but starting to explore Series A to grow faster)
# people: 25
* Following the migration, we found out there are ~5k users who’ve deleted their accounts or have not authorized us to move them to v2. We’ve decided to drop these ~5k users from our reporting. With them, the total # users, would have been 49,573.
Highlights
2025 Planning
We spent 1 week together in Sofia, planning 2025. Our goals: Revenue: $1M ARR by June 2025$3M ARR by end of 2025
1st Internal Hackathon
We split into 7 teams and had 2 days to built something cool. Crazy ideas were incentivized. The rule was to have something ready to be shipped as a tool in our experimental tools section. You can think of this hackathon as our R&D, which will be shipped bit by bit. Here are the results + our analysis of what was super smart about each tool and what wasn’t.
👉 1st place → YT Video Navigator. Spoiler alert, my team won after an audience vote. I hope it was because we built the best mini-product, not because I’m the CEO…
👉 All others ideas/tools in no particular order
💡 Code sandbox tool (similar to Claude artefacts)
You will be able to use these tools in the ‘Experiment tools’ section in Team-GPT. Once we see traction in any of these, we will graduate them to the main bit of the platform.
In Jan 2025 we shipped
🧠 Project knowledge
Some people call this ‘Long term memory’. Other people call these ‘assistants’ / ‘custom GPTs’. Our ICP really resonates with the non-technical terms ‘Projects’ and ‘Project knowledge’
Project knowledge is our take on reusable context. You can add project information (custom instructions), links, PDFs, CSVs, Excel files. Soon you’ll be able to connect different integrations (e.g. Google Drive, Sharepoint, Notion, Confluence, AirTable, etc.)
Project permissions
Completely rebuilt our permissions system to make it much faster and futureproof.
Improved model support
Gemini and Perplexity improved integration and support
Web browsing
One of the biggest objections we had was the lack of web browsing. Now that’s out, too.
Task management
Came out of a sales call, where we wanted to close a big deal. Interestingly, some companies consider chats = tasks. We are now gathering feedback on how this is perceived.
v1 is dead; long live v2
We finally ended the whole saga around Team-GPT v1. If we learned something from it, it’s: ‘don’t do complex data migrations, unless you really, really have to’. We consider this a mistake, especially so early in the development of our company. On the flip side, we managed to do it and people have all of their data migrated from v1 to v2. Hope this saved some valuable clients. We hope this will increase their loyalty and stickiness.
Why was v2 needed? Well Team-GPT v2 is enterprise ready. ISO and (soon) SOC-2 compliant and all the goodies. Plus, we’ve fixed all the architectural mistakes that we did in v1, which means we are now developing 5-10x faster.
Leaving some legacy behind:
47K sign-ups
1,473,208 lines of code
5195 commits
666 pull requests 😈
12 contributors
We went to Saudi to explore the market
The market looks extremely promising. We believe that given the Saudi Vision 2030, together with our strong connections there, we might have a good shot at becoming a market leader in the whole Middle East. We can get solid government support: $1.5M (RELOCATE) + $5M (Venture debt).
Read the memo here (link removed as this is confidential). Read the public version here:
We will only take next steps if they are revenue driven (e.g. we close revenue).
Deals overview
Asks
INTROS TO CLIENTS!!! Our product is now in a great shape, we’ve built a solid team and are ready to take care of the profits. We can close the deals, as long as they come our way. Please send us some deals!
Do you know someone who is figuring out AI adoption at their company? Just introduce us. We can help them!
Some collateral:
A PDF which you can check/send: Team-GPT Product and Company Presentation
Case studies (we will be improving these!)
👉 Marketing agencies (Die Crew)
👉 Software developers (Enlighten designs)
Priority companies to pursue: Marketing agencies, Consulting, EdTech.
Ideal size: 50-1000 FTEs.
That’s all folks!
Best,
Iliya
P.S. Original looks like this:
