Sesh, which is a developer of products to help improve communications and augment intelligence, is currently raising money through an equity crowdfunding campaign on SeedInvest. This is a seed-level round and the valuation is set at $4 million. The minimum to invest in Sesh stock is $10,000.
The company was launched in the summer of 2019. The three co-founders include David Dorfman who has over 18 years of international business experience and has helped startups raise more than $60 million and Chief Technology Innovation Officer Cauri Jaye. During the past 26 years, Jaye has led over 100 technology projects in the U.S. and Europe. Some of his specialties include gesture control systems, AI (Artificial Intelligence) and AR (Augmented Reality).
Rounding out the list of cofounders is Chief Software Architect and Data Scientist Kevin Woolery. He is a self-taught coder, having started when he was only nine years old. When he got his first job in the tech world, he worked for the U.S. Air Force and would help to create the world’s first Content Delivery Network (CDN).
How It Works
With the impact of the novel coronavirus, video conference has seen staggering growth. Keep in mind that Zoom Video Communications (NASDAQ:ZM) has a market capitalization of $71 billion – and the company has only been around since 2011!
But of course, the mega tech operators have also benefited from the video boom, such as Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOGL, NASDAQ:GOOG). The market opportunity is truly massive.
Yet there are inherent issues with videoconferencing. For example, it is extremely difficult to get a sense of the non-verbal cues of the participants on a call. No doubt, this can lead to much less effective interactions and even lead to distrust.
But Sesh is setting out to solve the problem. The company’s technology processes video content to understand what is really happening. This is accomplished by leveraging sophisticated neuroscience and AI systems.
Sesh has several offerings:
- B2B Web Tool: You can upload videos and get analysis.
- B2B Plugin: This has integrations with Zoom, YouTube and Hangouts. In other words, you can get an analysis of calls as they happen.
- API (Application Programming Interface): With this, you can create your own customizations.
The first two solutions have packages that range from free to $2,000 per month. The amount is based on the number of users and the minutes used. As for the API, there is a charge based on the volume of calls.
Regardless of the approach, Sesh provides a variety of insights and metrics like information of a person’s state of mind, confidence scores, detection of outliers and engagement. There is also a strong set of security systems in place, such as for the anonymization of data and for the compliance with laws like GDPR (General Data Protection Regulation) and the CCPA (California Consumer Privacy Act).
And yes, this functionality has wide-scale appeal. Sesh can help with hiring, selling, training, learning and customer support.
In terms of the traction – which is certainly key for whether to invest in stock – the company has been collecting data from over 550 participants (this includes more than eight corporate partners and dozens of small and mid-size businesses). This is essentially to help create better AI models.
Sesh has also taken steps to protect its IP (Intellectual Property). To this end, it has secured two provisional patents and is drafting another one.
Invest in Sesh Stock?
So far, Sesh has raised $675,000 with a convertible note structure. This is a debt instrument that converts into equity upon a future equity financing.
Now as is the case with any private investing deal, there are many risks. The company has no paying customers and the product is still in the early phases. In other words, it is far from clear if it will really work or get adoption. So before deciding to invest in Sesh stock, it is important to do your own research and make sure the allocation is consistent with your diversification requirements.
Tom Taulli (@ttaulli) is an advisor and author of various books and online courses about technology, including Artificial Intelligence Basics, The Robotic Process Automation Handbook and Learn Python Super Fast. He is also the founder of WebIPO, which was one of the first platforms for public offerings during the 1990s. As of this writing, he did not hold a position in any of the aforementioned securities.
