Wisedoc – 21 July

21 Jul 2020
 

Wisedoc

Rooted in Oregon, USA, Wisedoc is a disruptively innovative cloud-based word processing software for writing professional resumes, scientific journals, dissertations, cover letters, and many more. Their software allows you to watch your inputted information be formatted within seconds. Using advanced technology, WIsedoc provides state-of-the-art features for writing equations, citations, collaborating globally with other researchers, and much more. Beyond this, the networking system associated with Wisedoc enables users to review others’ resumes and earn money while doing so! This exclusive component adds value in helping people earn money at the leisure of their own homes. 

As a word processing software, Wisedoc faces competition against the decade-old existing softwares, MS word and Latex. What these platforms fall short of is that they are basic and do not have a wide range of built-in templates. Wisedoc’s architecture and foundation allows for the creation of any template depending on the market, which are competitive advantages that it has over MS Word and Google Docs. 

Overleaf is another similar cloud-based editing platform, however, unlike Wisedoc, Overleaf requires coding skills, lacks smart functions, and has a more difficult interface as it’s built on Latex’s foundation. Following the use of Overleaf is a large learning curve that some users may find difficult to navigate. Comparatively, it does not offer research collaborative features and the flexibility to save in .doc which are attributes that are unique to Wisedoc.

 

Traction 

While the beta was only just released a couple of weeks ago and amidst the pandemic, Wisedoc has already garnered a few hundred users across 34 countries. Wisedoc is also partnered with Oregon State University. 

Wisedoc’s biggest hurdle to overcome in the following year is to use marketing to keep a steady increase in brand awareness. With several initiatives in place to tackle this, Wisedoc plans to put more resources towards SMO and SEO to increase their rankings on Google. Once established, they anticipate that this will help grow their B2C customer engagement. Beyond that, the Seed investment will help build a sales team for B2B expansion across universities and industries in America and across the world.

 

Team

Dr. Akash Kannegulla (Ph.D.), Co-Founder/CEO/CTO – After acquiring his Ph.D. in nano technology, AK along with his teammate Bo, co-founded Wisedoc to help researchers save hundreds of hours of time in writing scientific documents.

Bo Wu, Co-Founder/COO – An experienced academic scientist for 7 years and marketing/business strategist of Wisedoc.

 
 

Funding

Wisedoc is currently looking to raise 1.5M USD in seed funding with a Safe note of 20% discount. With the secured funding, Wisedoc plans to allocate the money, with 50% going towards product development, 3% to capital expenses, and 47% on marketing and legal expenses. Along with those sectors, the seed investment will also allow for Wisedoc to increase their team size from 13 to 50 across the development and sales departments. 

Since being founded in November 2018, Wisedoc has raised about 200,000 USD as part of pre-seed funding through Angel investments. 

With an innovative mindset and a big vision, Wisedoc plans to use its funding for continuous expansion of its market size and further business development. 

 

Revenue Model

Wisedoc’s main streams of revenue are through their two main business models, business-to-consumer and business-to-business. 

For their B2C targets, Wisedoc offers 2 plans. The first is the Basic plan, whereby the first 14 days is $2.45USD, and then $9.99USD monthly. The following is a Premium plan which consists of $23.45USD monthly or $44.95USD for 3 months. 

With their B2B targets, Wisedoc charges licensing of their platform in dependence of the size of the businesses. 

 

Details 

Website, LinkedIn, Facebook

 
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