Below is our latest update — it’s short and sweet with a quick review of this last year’s progress.
- Accepted into the Techstars Boulder Accelerator starting Feb 11-May 11th.
- Moved to an all contract photographer model instead of full-time.
- Holding off on raising a capital round through SeedInvest.
Year in review:
- December – Accepted into Techstars Boulder starting Feb 11th, 2018
- November – Raised $50k round at $8mil valuation & outsourced remaining photography editing & categorization
- October – Automated v1 VR model creation from floor plans
- September – Raised $65k in SAFE notes & voted top 10 startups to work for in Denver
- August – Focused on 2 cities (Denver & Austin) instead of 5
- July – Built undeveloped home in VR for pre-sales in Vail
- June – Ability to stage your own furniture in homes you’re looking at
- May – Tested VR city search
- April – Launched VR pilots in multiple brokerages
- March – Launched in San Francisco
- February – Website facelift & worked with Interior Environments to use VR as commercial furniture sales tool
- January – Raised first round of capital of $325,000
Lessons Learned This Year:
- Raising money and meeting with potential investors is a very large distraction. I think it’s been valuable building the initial relationships for when we raise our next few rounds but it definitely sits in the way of focusing on growing the right team and revenue.
- Deciding to focus on short term revenue (photography) vs long term goals (proving VR) has been a struggle. On the one hand, photography is necessary for us to build the density needed for VR and it provides an immediate revenue stream. On the other hand, we’ve had pushback from investors that it feels as if we’re only a photography company that is not worth funding without having VR tours & revenue proven. This put us in a weird position to try to tackle both this last year. I still don’t think I know the answer to whether it was smart to tackle both or just to focus on building the 3D model density with photography.
- What has been your insight or analysis after watching us grow this year?
Key Performance Indicators:
Walkthrough replaces the time-consuming process of touring multiple properties with a simple and affordable virtual reality experience. (view investor slide deck)