Help Lightning Series-A

This is the Help Lightning pitch deck to raise a $8m series-a round in 2020.

About

Help Lightning is a B2B software as a service (SaaS) company specializing in remote assistance. It provides next generation video collaboration services that enable a company’s experts to work virtually side-by-side with anyone needing help, anywhere in the world. The company’s cloud-based solution applies augmented reality features, including the merging of two video streams and the use of 3D annotation to improve real-time communications and solve difficult problems. Help Lightning is used for the installation, inspection, training, servicing, and repair of complex equipment and products. With Help Lightning, customers see immediate performance improvements including an increase in first-time fix rates, fewer truck rolls, expanded workforce capacity, and an increase in end customer satisfaction while enhancing service revenue and margin.

The company uses “merged” reality technology, which blends multiple video streams into one, to allow technicians, doctors, and experts to be hands-on from afar by virtually “touching” what is in their customer’s field of view.

Birmingham, Alabama-based Help Lightning said it saw a spike in demand during the coronavirus pandemic and the financing will be used to scale the business.

It’s part of a wider trend of augmented reality seeing greater usage as social distancing becomes the norm during the pandemic. The AR market could be worth $72.7 billion by 2024, according to research by Markets and Markets.

“Help Lightning saw a 4x increase in demand by our customers for virtual expertise due to the travel restrictions and we saw a similar increase in interest by investors in the company,” Gary York, Help Lightning CEO, told Business Insider. “We had interest from investors all over the country. While a few investors were pulling back or holding on new investments, most saw the pandemic as an opportunity to find companies that should outperform in the post-pandemic environment.”

York adds that the enterprise AR sector had already been growing at 70% year-on-year but that the pandemic means it has now gone from a “nice-to-have” to a “need-to-have.”

For context, the rest of the AR market has an estimated annual growth rate of 46%.

Much of the company’s funding was done virtually before the various parties found a safe way to meet in person during the latter stages of the process.

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