Screenweave enhances collaboration by providing a user-friendly platform that allows individuals to effortlessly record and share their computer screen and webcam footage with colleagues. We believe in the power of asynchronous video communication, which enables people to connect and collaborate with one another without the constraints of scheduling live meetings. Our priority is to ensure that the platform is easy to navigate, while also providing robust organizational tools to keep your company's video library secure and searchable. By leveraging the potential of video technology, we aim to revolutionize corporate communication by promoting flexibility and human connection.
Text-based communication like email, chat apps, and wikis are lacking the human connection. Since 80% of communication is non-verbal, these text mediums are stripping out a lot of critical information in our correspondence. To get more authentic and dynamic interaction we typically go to scheduled, in-person meetings, phone calls, or video conferences. While these are a better medium, they require everyone involved to be available at the same time. To make matters worse, so many meetings are simply status updates. With meetings that are a waste of time and people burnt out from email and chat, there is too much noise and not enough human connection in our workplaces.
What if we could communicate with all the wonderful qualities of seeing each-other, without setting up meetings or using limiting text-only tools?
Screenweave helps people to easily record their computer screen and webcams, then immediately share those videos with co-workers. This makes video communication asynchronous so people can collaborate with all of the expressiveness of seeing and hearing people without scheduling live meetings. Even though it’s 2023, recording, sharing, and organizing video is still a challenge. Screenweave promotes recorded video to a primary tool in corporate communication. As a completely browser-based app, there is no software to install. Our inclusive licensing model allows everyone in an organization to participate with unlimited users. Videos are completely searchable with full-text indexing and summaries generated by a little A.I magic. The essential elements for adoption in the business world are simplicity, shareability, and searchability; and that’s Screenweave.
The market for communication tools in the B2B space is vast. As we assess our niche in the market, it becomes clear that there is a gap in the corporate communication toolset. While synchronous communication methods rely on verbal interactions between individuals, all asynchronous methods are based on text-based communication. This presents an exciting opportunity to introduce a more human and expressive approach to asynchronous communication. We estimate that the total addressable market for a tool like Screenweave is greater than $20 billion. We are focusing on organizations under 500 employees, given our pricing model, that gives us an addressable market of $8.5 billion.
This expanding market has a handful of competitors like Loom, who was recently valued at $1.5b. While they move up market, we see immense opportunity in our niche.
Screenweave is Software as a Service with plans starting at $24 per month with 200 included videos, then 15¢ per video. The hardest part of creating video platforms is the cost. Video in the cloud is still very expensive, especially when compared to text based apps. Our pricing model allows us to maintain a 73% margin while scaling with customer usage.
Our key technology partners are Amazon AWS, Mux Video, and OpenAI. These best of breed software tools allow us to iterate on new features, validating our ideas quicker. While this toolset allows us to move fast, it’s expensive. This gives us an opportunity in the future to optimize our cost.
Reaching customers is the most critical activity for an early-stage company. Screenweave will be using a marketing-centric approach for selling directly to customers, beginning with SEO and SEM to drive traffic for a free trial. Customers can self-serve directly from the website; signups, trial, payment, and subscription management. We will have marketing drip campaigns to nurture leads.
Our target market is companies under 500 employees. This is still a very broad stroke. To further refine our beachhead, we will be focusing on technology and design companies who have hybrid workforces. From there, we are creating specific integrations with the tools these companies already use. For example, we currently can embed protected videos into Confluence & Jira, a popular project management tool from Atlassian.
Our founding team is very experienced in video, app development, and corporate culture. They have 25 years of digital signage and video experience selling into public, education, and corporate markets. The team has been collaborating with remote co-workers for more than 15 years and have been involved with 100% remote-first teams for the past 5.
JJ Parker: With an early foundation of video production, JJ attended the Minneapolis College of Art and Design (MCAD) where he leaned into what it means to make connections with people through digital mediums. Founding Tightrope Media Systems shortly after, he went on to create visual communication tools including Carousel Digital Signage, Cablecast Channel Automation, and Zeplay Sports Replay. He was the co-founder of Corology, a professional coaching company with a unique approach using personality tests and video to create personalized development opportunities for everyone in an organization.
Ray Tiley: A software engineer who received a master's degree in software engineering from the University of Minnesota. He has over 15 years of experience building video applications for broadcast and the internet. Having worked remotely for over 8 years, Ray understands the importance of building a remote culture within companies. He brings his experience and expertise in remote work to the team, ensuring that the product is designed to meet the needs of remote teams.
Beyond the founding team, Screenweave has a deep bench of experienced advisors to help guide us.
We will be raising a $500k seed round to get Screenweave to the next milestone. This capital will be focused on software engineering and marketing efforts to generate initial revenue.
During COVID we decided to scratch our own itch. As a 100% remote team we were longing for a better way to communicate. While using Zoom for video conferencing was working, it quickly became too limiting. Scheduling meetings with everyone was becoming tedious, giving status updates on projects with email and Slack was not very productive. There had to be a better way!
The adage "a picture is worth a thousand words" pales in comparison to the power of video, which can convey even more information! Upon examining the current state of affairs, we realized that our team was already striving towards this goal. However, the process of recording your screen using an app on your computer, uploading the resulting video to a hosting service, and then sharing the link with colleagues proved to be a daunting task that only the most technically adept among us were willing to tackle.
In 2020 we created a prototype with the mantra, “The easiest way to share screen recordings”. This tool simply recorded your screen and let you instantly share a link. With little promotion, this service grew to 1,900 users creating over 22,000 videos. The prototype proved that a low-friction solution will be quickly adopted; however, this was not built for business.
We ran a Google Ads campaign to experiment with the SEM conversion rate in this space. We ran this experiment for about 1 year with a budget of $6,000, even though the prototype didn’t have a revenue model. Our conversion metric was a user signing up for an account. Our campaigns average cost-per-click was $0.40 with a click-through-rate of 6.60%. We had a 25% conversion rate at a cost of $1.63 per conversion. These were the key metrics we needed to prove that we could drive traffic for this kind of service.
Building on the prototype experience, we decided to “build it for real”. Designing Screenweave specifically for corporate communication, we released it to our first beta customer in December, 2022. This 50 person company has created 685 videos over the past 4 months. We have since added 2 more beta customers.
Screenweave currently allows users to create screen & webcam recordings, upload videos, and share both private and public viewing links. Additionally, a user can catalog videos by creating channels and embed videos in intranet sites, collaboration tools, and websites. Next, we are working on a video request workflow allowing external people to submit secure recordings to improve hiring, collect feedback, and improve tech support.
We are just scratching the surface with what we can do with video communication in our organizations.