Polydone is an innovative Project Management platform for tech companies, powered by A.I. 54% of companies never complete projects on time and on budget. Losing millions of pounds every year. This is due to time & budget estimates done manually and therefore prone to error. Polydone is solving this problem with Automation, Artificial Intelligence, Machine Learning and a super easy-to-use platform, available on the web and soon on mobile.
Polydone is a simple and powerful Project Management platform, powered by A.I. – While project management is still entirely done manually to this day, Polydone adds automation and artificial intelligence to reduce human error by 90% and save companies millions of dollars they leave on the table every year due to bad estimations of time and budget. Polydone is a B2B SaaS company, based in London, with customers worldwide. Its targets are software companies of 5 to 50 people now, next year it’ll go after larger teams, followed by an expansion to companies in other sectors, such as creative or recruitment agencies.
54% of Companies never complete projects on time, on budget, on scope; losing millions of pounds every year. This is due to the fact that 86% of project managers don’t have formal training in PM (such as engineers promoted to management positions). Professional project management tools are very hard to learn and use. Engineers don’t use them and instead use simpler tools, the wrong tools, such as to-do lists and spreadsheets. These simple tools are weak, they require manual input of information and manual calculations of estimates. Manual means prone to human error. And that’s why projects don’t get done on time and on budget.
Polydone is a B2B SaaS platform priced at £5 and £10 per person per month (pricing depends on features). Billing is monthly and there’s a 20% discount for annual plans paid upfront.
Cost to acquire a paying company is £200.
Avg. people per company is 10.
Avg. of the two plans is £7.5.
Therefore it costs £200 to acquire a company that pays £75 per month.
ROI is just under 3 months.
LTV is £1,350.
In 2018, Polydone will roll out an Enterprise plan with powerful machine learning features.
From Google to Oracle, plenty of large corporations are putting a lot of efforts in Artificial Intelligence and Productivity tools, Polydone’s aim is to be acquired by one of them. Recently, Trello (a task management tool), was acquired by JIRA for $425M (with an ARR of only $10M).