When was your company founded & where is it located?
May, 2022
United States Of America
What are past projects, failures, or successes you’ve had in your career?
Successfully developed AI based document digitization. Bootstrapped Leanflow an org which was acquired.
What is your team size?
17 (12 Dev + 5 Growth)
Are you funded or bootstrapped?
Bootstrapped
What 3rd party tools is your product critically dependent on?
OpenAI
Google
Microsoft
Amazon AWS
Where is your customer data stored?
AWS US East Location
What is your current monthly recurring revenue (MRR)?
$25000
How many customers do you have today?
2000+
What’s the origin of the idea for your product?
The idea for Legitt AI originated from the need to address the complexities and inefficiencies in traditional contract management processes, which often involve significant manual effort, high risk of errors, and time-consuming tasks. Harshdeep Rapal, having extensive experience in enterprise strategy and business growth, recognized the potential of AI and blockchain to transform this domain. By automating routine tasks and providing intelligent insights, Legitt AI was conceived to streamline contract management, reduce human intervention, and ensure higher accuracy, ultimately leading to smarter and more efficient contract workflows for businesses.
What problem is your product solving and how?
Legitt AI is solving the problem of inefficiency, inaccuracy, and complexity in contract management and sales enablement processes. Traditionally, managing contracts involves significant manual effort, which leads to errors, delays, and compliance risks. Sales teams also face challenges in generating accurate proposals quickly and aligning them with contractual obligations.
Legitt AI addresses these issues by leveraging advanced AI and blockchain technologies to automate and streamline the entire contract lifecycle, from drafting and negotiating to post-signing management. The platform enhances accuracy by using AI to analyze and extract key data from contracts, ensuring compliance and reducing risks. Additionally, it empowers sales teams by automating proposal generation and linking them seamlessly to contract creation, enabling faster deal closures and improved revenue realization. Through these innovations, Legitt AI significantly reduces the time and effort required for contract and proposal management, allowing businesses to focus on strategic growth.
What’s the #1 thing you’re looking to gain from the AppSumo campaign?
Customer Acquisition and Expansion: AppSumo can be a powerful platform for attracting a large number of users, especially from small and medium-sized enterprises (SMEs). Legitt AI should focus on acquiring new customers who can benefit from its contract management and sales enablement solutions. The campaign can help build a strong user base quickly, leading to potential long-term customers.
User Feedback and Product Refinement: Engaging with the AppSumo community provides an excellent opportunity to gather feedback on Legitt AI's features, user experience, and overall value proposition. This feedback can be invaluable for refining the product, adding new features, and addressing any pain points identified by early adopters.
Brand Visibility and Awareness: An AppSumo campaign can significantly boost Legitt AI's visibility, particularly among entrepreneurs, startups, and small businesses. This increased brand awareness can lead to further organic growth and recognition in the market.
Revenue Generation and ROI: While AppSumo typically offers products at a discounted rate, the campaign can still generate substantial revenue, especially if upsells, cross-sells, or premium features are effectively marketed. Legitt AI should carefully design its pricing and offer structure to maximize revenue while providing clear value to users.
Building a Loyal Community: AppSumo users are known for their active engagement and loyalty. By delivering a high-quality product and exceptional customer service, Legitt AI can build a community of advocates who are likely to provide positive reviews, refer others, and contribute to the platform’s growth.
What are your plans with the customers, cash, and learnings from the AppSumo campaign?
Product Development and Enhancement: The revenue generated from the AppSumo campaign can be reinvested into further development of the platform. This includes adding new features, improving existing functionalities, and refining the user interface based on the feedback received from AppSumo customers. By continuously enhancing the product, Legitt AI can ensure it meets the evolving needs of its users and stays competitive in the market.
Customer Success and Retention: Acquiring new customers through the campaign is just the first step. Legitt AI will likely focus on converting these users into long-term customers by providing exceptional support and ensuring they fully realize the value of the platform. This might involve onboarding programs, personalized support, and creating resources like tutorials and documentation to help users get the most out of the platform.
Scaling Marketing and Outreach Efforts: With the increased revenue and customer base, Legitt AI can expand its marketing efforts to reach a broader audience. This could include targeted digital marketing campaigns, partnerships, and possibly expanding into new markets or regions. The momentum from the AppSumo campaign can be leveraged to amplify brand awareness and attract even more users.
Building a Feedback Loop for Continuous Improvement: The feedback from AppSumo customers provides a treasure trove of insights that can guide the platform’s ongoing development. Legitt AI can establish a continuous feedback loop where user suggestions and pain points are regularly reviewed and addressed in updates. This customer-centric approach ensures that the product remains aligned with user expectations and can adapt quickly to changing market demands.
Expanding Product Offerings: Depending on the feedback and user demand, Legitt AI might explore expanding its product offerings or creating new solutions tailored to specific customer segments discovered through the AppSumo campaign. This could involve developing niche features, integrations with other tools, or even creating entirely new products that complement the core platform.
Any details to clarify about the deal?
There are fair usage limit on AI features of the platform. Non-AI features limits are as per their respective plans.
