WIRED
Review: Waverly Labs Ambassador Interpreter
Waverly Labs
Building a World Without Language Barriers
Brooklyn, NY
Consumer Products
Design
Waverly Labs develops voice and language products for teams and professionals designed to solve the language barriers in global business and commerce.
$197,334
raised
$3,160,366
previously crowdfunded
148
Investors
$42M
Valuation
$9.78
Price per Share
$489.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.2M
Offering Max
0
Days Left
This offering ended on September 01, 2022 and is no longer accepting investments.
OUR STORY
Disrupting the Translation Industry
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*The above product is still currently under development not yet available on the market.
Waverly Labs is at the cutting edge of interpretation technology with our patented hardware, intellectual property, algorithms, and brand recognition. We’re going after the $225B language industry (estimated by 2025) with our award winning products, and we’ve already sold 55,000 units worldwide and generated over $10MM in sales.
THE PROBLEM
Globalization And Global Economic Trends Are Changing The Language Industry
Globalization and global economic trends are changing the way people interact, communicate, and consume information, and billions are being spent each year to bridge the language barrier.
*The above product is still currently under development not yet available on the market.
In the U.S. alone, $23B is being spent on hiring bilingual individuals and professional interpreters to communicate in the commercial space, either on-site, through telephone, conference, or video remote. Such services are often delivered by specialist providers and organizations that focus on one or multiple interpreting modalities. Globally, the amount being spent on the Language Services and Technology market is estimated at $56B (Source, Source)
THE SOLUTION
Waverly Labs Develops In-Person Interpretation Tools for Teams and Professionals
*Audience and Subtitles are not yet available in the general market.
As experts in machine speech translation, the team has introduced a suite of solutions to solve in-person interpretation for teams and professionals across various industries including education, hospitality, business, and events.
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Ambassador Interpreter is an over-the-ear machine interpreter designed for professionals, and empowers you to have smooth conversations free from the constraints of language barriers.
*The above product is still currently under development not yet available on the market.
Audience empowers presenters to converse with anyone in the room, regardless of what language they speak and public beta testing is planned for June 2022.
*The above product is still currently under development not yet available on the market.
Subtitles is designed for hygienic, safe in-person interactions and public beta testing is planned for June 2022. With a two-sided screen providing real-time transcriptions and translations to each person on either side, Subtitles is the perfect solution for all customer service interactions.
THE MARKET
A $225 Billion Total Available Market by 2025
By 2025, an estimated $225B will be spent on the language industry, including an estimated $60B on global hiring for interpreter and bilingual professionals, $57B spent on other language services, such as document translation, localization for games and apps, and subtitling, and another $125B on the language learning industry. (Source, Source, Source)
Key Insights
The language industry continues growing as it responds to challenging requirements for traditional translation and interpreting. The sector grew in 2018 despite strong economic, political, global trade, and technological anxieties. The industry has long outperformed the general economy, largely because it reflects opportunities beyond domestic markets.
“The future for interpreting services may, however, take a different shape … —machine interpreting benefits from advances in MT and speech recognition, and will eventually create opportunities for vendors that can use it to capture new users. The low cost and immediate availability of machine-assisted or full-on machine interpreting will benefit lower-level interactions that may not require a professional or in-person interpreter.” (Source)
OUR TRACTION
96% YoY Revenue Growth from 2020 - 2021
Over $10MM in worldwide sales and $4MM in investment
We have tens of thousands of customers, sold over 55,000 units worldwide, generated more than $10M in Gross Revenues, raised $4MM in investment and have gleaned dozens of positive reviews of our product while receiving countless requests to distribute globally. We've also conducted partnership and B2B trials with major companies including: Hilton, Walmart, Disney, Amazon Fulfillment Centers, and many more.
2022 is Starting Strong
Not to mention:
- March 2022 vs March 2021: sales have grown 229%
- 2021 sales over 2020 sales from the same period have grown between 40% and 485%
- Partnership opportunities to distribute our products globally
- 31% growth of bulk orders and purchase orders from 2022 over 2021 as we begin tackling key sectors
THE BUSINESS MODEL
Hardware + Software Recurring Revenues
Our products are developed around SaaS (Software as a Service) and HardwareSaaS models. This allows us to distribute our translation solutions across various products while capturing one-time sales and recurring revenue through subscriptions.
With subscriptions, customers will be able to access deeper features custom-tailored for their professional environments, such as custom glossaries and shareable transcripts. This service will increase the lifetime value of our customers by capturing monthly recurring revenues. As unit sales climb, subscription revenues compound and increase our profit margin over the life of the customer, augmenting our sales forecasts and ability to generate healthy and consistent revenues.
*The above product is still currently under development not yet available on the market.
Currently, our products are priced from $149 - $1,995 USD depending on the hardware model, and roughly $4.99 - $99 for monthly subscriptions. A significant portion of our customer base consists of customers purchasing bulk orders, and by offering multiple solutions, we’re able to fulfill an organization’s full translation needs and maximize customer value.
HOW WE ARE DIFFERENT
We’re Making an Impact Across Industries
*These testimonials may not be representative of the experience of other customers and is not a guarantee of future performance or success.
Waverly Labs is one of the market leaders in developing interpretation and translation solutions for in-person experiences. We have an award winning brand, trademarks, patents, and an extensive community of customers and advocates.
- 400,000 community size of customers and subscribers who follow us on social media and email
- Patented Technology, Trademarks, and Trade Secrets
- Our technology works on both iOS and Android platforms
- Strong Brand Recognition among Customers, Press, and Media
- Positive Reviews of our products and services
THE VISION
We Are Waverly Labs
Inspired by personal experiences to connect across language barriers, Waverly Labs was founded in 2014 at the forefront of voice and language products. Between 2016–2020 we pioneered the world’s first translation earbuds, Pilot Smart Earbuds and Ambassador Interpreter, establishing the product category and shipping over 55,000 units worldwide and over $10MM in sales.
Now we’ve developed a full suite of voice and translation solutions engineered for professionals across various industries including education, hospitality, business, and events.
Our current team boasts over 30 years experience in the field of software engineering, speech translation technologies and wearable manufacturing.
WHY INVEST
A Letter From Our CEO
We started Waverly Labs out of a desire to solve a global challenge with our Pilot Smart Earbuds, and even though we knew we were working on something groundbreaking, we didn’t anticipate the level of love and support that we’ve received from our global community. It’s inspiring to know that so many people are just as passionate about breaking down language barriers as we are, and we’re thrilled to have touched so many lives.
Now with Ambassador Interpreter, Audience, and Subtitles, we realize a new evolution of what’s capable with our technology as we solve the language barrier for professionals and businesses alike. Our customers still send us stories every day about how they’ll use our products, like Jade who uses them on international film sets, and Wesley who runs conferences all over the world. Their support and encouragement are truly why we do this.
Bold (⌘B)
In the Press
ReadWrite
The Waverly Labs Ambassador Interpreter — Wow
TechCrunch
Waverly Labs’ new wearable translator arrives in April at $200
BBC News
A machine to break down all language barriers
Popular Science
This Earpiece Will Prevent You From Ever Being Lost In Translation Again
Offering Summary
Company | : | Waverly Labs Inc. |
Corporate Address | : | 19 Morris Avenue, Brooklyn, NY 11205 |
Offering Minimum | : | $9,995.16 |
Offering Maximum | : | $1,199,996.22 |
Minimum Investment Amount(per investor) | : | $489.00 |
Terms
Offering Type | : | Equity |
Security Name | : | Series C Common Stock |
Minimum Number of Shares Offered | : | 1,022 |
Maximum Number of Shares Offered | : | 122,699 |
Price per Share | : | $9.78 |
Pre-Money Valuation | : | $41,992,180.62 |
*Maximum number of shares offered subject to adjustment for bonus shares. See Bonus info below.
Time-Based:
Super Early Bird Bonus
Invest within the first 48 hours and receive 15% bonus shares.
Early Bird Bonus
Invest within the first 72 hours and receive 10% bonus shares.
Amount-Based:
Tier 1 | $1,000+
Invest $1,000+ and receive 50% off Ambassador. 50% off the retail price of one Ambassador Interpreter (cannot be combined with other discounts).
Tier 2 | $2,500+
Invest $2,500+ and receive a Free Ambassador + 5% bonus shares.
Tier 3 | $5,000+
Invest $5,000+ and receive a Free Ambassador + 10% bonus shares.
Tier 4 | $10,000+
Invest $10,000+ and receive a Free Ambassador + 15% bonus shares.
Tier 5 | $25,000+
Invest $25,000+ and receive a one free Ambassador, pro access to Audience, a Subtitles unit for your business or organization (when production begins) + 20% bonus shares.
Audience-Based:
Current Investor Bonus
Current investors receive 10% bonus shares for reinvesting in the company
*All perks occur when the offering is completed.
StartEngine OWNer’s Bonus:
The 10% StartEngine Owners’ Bonus
Waverly Labs Inc. will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.
This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Series C Common Stock at $9.78 / share, you will receive 110 shares Series C Common Stock, meaning you'll own 110 shares for $978. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.
Investors will receive the highest single bonus they are eligible for among the bonuses based on the amount invested and time of offering elapsed (if any). Eligible investors will also receive the Owner’s Bonus and the Current Investor Bonus in addition to the aforementioned bonus.
Irregular Use of Proceeds
The Company will not incur any irregular use of proceeds.
Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$1,186,593.00
USD
$627,242.00
USD
Cash And Cash Equivalents
$614,968.00
USD
$136,408.00
USD
Accounts Receivable
$5,557.00
USD
$0.00
USD
Short Term Debt
$490,551.00
USD
$889,897.00
USD
Long Term Debt
$496,335.00
USD
$101,845.00
USD
Revenues And Sales
$832,033.00
USD
$423,312.00
USD
Costs Of Goods Sold
$631,479.00
USD
$348,510.00
USD
Taxes Paid
$0.00
USD
$0.00
USD
Net Income
-$1,246,760.00
USD
-$1,135,320.00
USD
Risks
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.
Updates
It’s Coming: Forum App Launches Soon!
about 1 month agoAnd here we go …
Our newest solution is launching next week: Forum, transcription and translation for meetings, conferences, events, and experiences.
Forum app allows users to present and converse with their guests, regardless of what language they speak. Create a session, invite guests, and experience translated conversations on your mobile device or computer.
We’re already trialing with an off-Broadway show, and planning to deploy with various groups, including community service organizations and education. The feedback has already been very positive!
Here are a few FAQs:
-
What is Forum?
Forum app is our newest solution, and does not require the Ambassador headphones. It’s perfect for large groups or remote sessions, where teachers, lecturers, and conference organizers need mass communication.
-
Can the lecture be translated into multiple languages simultaneously?
Yes, the session can translate into multiple languages simultaneously.
-
How fast are the translations?
The translations are designed using our real-time translation algorithm, which produces the translations within seconds, almost instantaneously.
Forum is our first subscription based software product, and alongside Ambassador, we expect the application to amplify our sales with recurring monthly revenues. Both products complement each other as interpretation solutions for our customers.
If you’ve been waiting, now is the perfect time to invest and join an award-winning team on our journey to breaking down language barriers!
Sincerely,
Andrew Ochoa
CEO
Only 1 Day Left on StartEngine!
about 1 month ago
There is only 1 DAY left for our campaign on StartEngine! With the help of our investor community, our summer campaign is adding to the $3MM+ that we've raised as we get ready to launch our newest product!
We are dedicated to developing cutting edge technologies allowing for accurate in-person translation. Our portable translation earbuds allow for seamless communication across language divides.
Already, Waverly Labs has achieved:
Over $10MM in Gross Revenue across two product lines
Raised over $4MM from 3,500+ investors
96% YoY Growth in 2020 to 2021
55,000+ units sold worldwide
Customers, partnerships, and trials with companies like Hilton, Walmart, and Amazon Fulfillment Centers for major B2B testing
Waverly Labs has been featured by Forbes, Wired, The Verge, BBC, CNN, The Huffington Post, Nerdist, Inc., New Atlas, The Atlantic, Popular Science, TechCrunch, USA Today, CNET, Business Insider, and the International Business Times!
Help us go after the $225B language industry and revolutionize how people communicate. There is still time to invest!
The perks of being an early investor include:
$2,500+ - 5% Bonus Shares
$5,000+ - 10% Bonus Shares
$10,000+ - 15% Bonus Shares
$25,000+ - 20% Bonus Shares
Visit our raise page today to invest or reinvest to help us close out our StartEngine campaign with success! Please share this amazing investment opportunity with your friends, family, and network.
Warmly,
Andrew Ochoa
July 2022 Pro-Forma Numbers Are Looking Hot!
about 1 month agoSummer figures are hot this year, and as we continue to tally up revenues, it looks like July is coming in as a strong month of recorded revenue of $86k. And this is before we start shipping our newest product, Forum, which features subscriptions!
Here are a few highlights:
July 2022 saw a 54% increase in revenue over the same month in 2021
Month over month revenue had marginal growth between June 2022 to July 2022 but ultimately stayed in line with summer expectations
Direct sales comprised a significant amount of revenue this period, as the company nurtures larger orders with its B2B solutions
July appears to be our best month this year, and maintains the trend of back to back month revenue increases over the past few months. Although these figures are pro-forma, unaudited, and pending the completion of the monthly financial statements for the month, July is looking good!
AND the big news is … Forum app is just around the corner! With the upcoming release of our first subscription based software product, Forum, and alongside Ambassador, we expect to augment our sales figures moving forward with recurring monthly revenues as both products complement each other as interpretation solutions for our customers. As we speak, we’re meeting with a multinational billion dollar luxury brand to demonstrate both solutions … fingers crossed 🤞
If you’ve been waiting, now is the perfect time to invest and join an award-winning team on our journey to breaking down language barriers!
Sincerely,
Andrew Ochoa
CEO
We're Going to Hollywood (with $50k)!
about 1 month agoBig news everyone - we closed on a $50k contract with a major production company for an upcoming tv show!
We’re limited in what we can say about the new show coming to television soon, but what we can say is that the production team asked us to build out their voice and language services to support their production team. And as a part of the deal we’ll get some brand recognition on the upcoming program!
So basically we’re movie stars now.
We have a few other big deals in the pipeline, and we’ll keep shareholders updated as these opportunities move through the sales cycle. But as we begin deploying our solutions to various industries we can expect more customers signing up to use our services to solve their communication challenges. After all, breaking down language barriers is why we do this.
If you’ve been waiting, now is the perfect time to invest and join an award-winning team on our journey to breaking down language barriers!
Sincerely,
Andrew Ochoa
CEO
Only 3 Days Until Our Campaign on StartEngine Ends!
about 1 month ago
We are making great strides in our StartEngine campaign but still need your help to reach our goal.
There are only 3 days left to invest in Waverly Labs’s campaign!
To everyone who has already made an investment in Waverly Labs, we thank you! Our growing investor community has helped us achieve:
Over $10MM in Gross Revenue across two product lines
Raised over $4MM from 3,500+ investors
96% YoY Growth in 2020 to 2021
55,000+ units sold worldwide
Customers, partnerships, and trials with companies like Hilton, Walmart, and Amazon Fulfillment Centers for major B2B testing
Please share our campaign with your family, friends, and network to help us grow our investor community. The perks of becoming an early investor include:
$2,500+ - 5% Bonus Shares
$5,000+ - 10% Bonus Shares
$10,000+ - 15% Bonus Shares
$25,000+ - 20% Bonus Shares
Visit our raise page on StartEngine to learn more about the benefits of reinvesting. Our previous campaign raised over $3M and we strive to beat our record!
Together, we can build a world without language barriers!
Warmly,
Andrew Ochoa
Only 5 Days Left to Invest in Waverly Labs on StartEngine!
about 1 month ago
Waverly Labs is making amazing progress on StartEngine! There are only 5 days left until the end of our campaign.
We are dedicated to developing cutting edge technologies designed to create accurate in-person translation tools. Our portable translation earbuds allow for seamless communication across language divides.
Waverly Labs has been featured by Forbes, Wired, The Verge, BBC, CNN, The Huffington Post, Nerdist, Inc., New Atlas, The Atlantic, Popular Science, TechCrunch, USA Today, CNET, Business Insider, and the International Business Times!
We need the continuous support of our investor community to help us achieve our mission to create a world without language barriers.
Please visit our raise page to invest to help us close out our campaign with a successful raise! Share this amazing investment opportunity with your network.
Warmly,
Andrew Ochoa
Waverly Labs Webinar Highlights
about 1 month ago
Waverly Labs is making waves in the language translation industry. Recently, CEO Andrew Ochoa sat down with our lead investor Michael Casella to discuss the explosive growth the company has experienced since releasing our first products.
Did you miss out on our exclusive Q&A webinar? Don’t fret! You can watch the full recording!
Our last campaign raised over $4M and attracted 3,500 new investors to the Waverly Labs community. We have evolved the company from pioneers in the language tech industry to becoming a global phenomenon on the world stage.
This is your chance to invest in a diverse team with over 30 years of combined experience bringing such products to life. To date, Waverly Labs has generated over $10M in gross revenue - and we’ve achieved a 96% year over year growth in 2021 compared to last year.
Join our investor community today! Together, we can say goodbye to language barriers once and for all.
Warmly,
Andrew Ochoa
Only 1 Week Left for our StartEngine Campaign!
about 1 month ago
There is only 1 week left to invest in our StartEngine campaign! Our previous campaign raised over $3M, and we hope to beat our record!
Help us go after the $225B language industry and revolutionize how people communicate!
Waverly Labs develops accurate in-person interpretation tools for business, educational, or casual conversations. Our translating earbuds use the latest technology and have sold over 55,000 units worldwide!
Some of the perks of being an early investor include:
$2,500+ - 5% Bonus Shares
$5,000+ - 10% Bonus Shares
$10,000+ - 15% Bonus Shares
$25,000+ - 20% Bonus Shares
Waverly Labs has generated over $10M in sales! Now is a great time to join our investor community.
Visit our raise page on StartEngine to learn more about the benefits of early investment and please share with your network!
Warmly,
Andrew Ochoa
Top Reasons to Invest in Waverly Labs!
about 2 months ago
Hello Waverly Labs Community,
We are solving the problem of language barriers across the globe using the Ambassador translation earbud!
Some of the top reasons to invest in Waverly Labs’s mission today are:
Over $10MM in Gross Revenue across two product lines
Raised over $4MM from 3,500+ investors
96% YoY Growth in 2020 to 2021
Customers, partners, and trials with companies like Hilton, Walmart, and Amazon Fulfillment Centers for major B2B testing
Waverly Labs utilizes cutting edge interpretation technology with our patented hardware, intellectual property, and algorithms to go after the $225B translation market (CSA Research). Already, 55,000 units have already been sold worldwide.
Learn more about how to become an early investor by checking out our raise page and joining our community of over 3,500 investors.
Together, we can bridge global communication by building a world without language barriers!
Warmly,
Andrew Ochoa
Only 2 Weeks Left to Invest in Waverly Labs on StartEngine!
about 2 months ago
Waverly Labs has a vision to revolutionize the translation industry and create a world without language barriers! Our portable translating earbuds allow for easy communication across language divides.
There are only 2 weeks left to invest in our StartEngine campaign!
Our software engineering team utilizes cutting edge interpretation technology along with our patented hardware, and algorithms to transform how people communicate in both business and casual conversations.
Waverly Labs has achieved:
Over $10MM in Gross Revenue across two product lines
Raised over $4MM from 3,500+ investors
96% YoY Growth in 2020 to 2021
55,000+ units sold worldwide
Customers, partners, and trials with companies like Hilton, Walmart, and Amazon Fulfillment Centers for major B2B testing
Learn more about how to become an early investor for as little as $489 by checking out our raise page!
Help spread the word by inviting your network to join our community of over 3,500 investors!
Warmly,
Andrew Ochoa
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