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Renderro

Cloud tool for creatives to work and collaborate remotely

Poland, Lublin province
Market: Internet and IT, Information and media, Culture, art, Another, Mobile applications
Stage of the project: Operating business

Date of last change: 24.03.2021
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Idea

Every modern filmmaker, graphic designer and animator needs the right tools to create - and those take a lot of time and money to obtain and upkeep.

Renderro is a cloud based solution that allows those creatives to perform their work from any device connected to the internet in a pay-as-you-go model.

Renderro launched a public beta version of the product in October 2020 and since then is growing more than 50% MoM in terms of customer acquisition and revenue, generating traffic mostly from the US, UK, and Germany.

Current Status

In October 2020 we released the beta version of our product. Even though it was a silent release - up to date we have gained 455 users located in 31 countries. We are registering 47% CMGR growth in terms of user accounts, and 30% MoM growth of the webpage traffic.
In February our revenue summed up at $632.
Currently we are at the beta test phase focusing on getting feedback fr om users to examine our platform, reveal weak spots and find out what can we do better.
At present we are at the point wh ere creators are already able to use Renderro for the whole workflow, but we still have a lot of work in front of us.

Market

Our initial target market are creatives such as filmmakers, graphic designers and animators as well as film/animation studios of any size. Renderro is oriented both on B2B and B2C clients. We estimate our total addressable market at $26,3 bln with a minimum 21 mln potential customers. This is based on the number of people working in film and graphic design alone. We estimate our SAM at 2 mln potential customers - these are professionals in film, and graphic design we can reach directly as of today through social media.The biggest target markets in terms of initial SAM for us are North America (380k users), Europe (660k) and Mid Asia (1M).

Problem or Opportunity

Right now a filmmaker, graphic designer or animator, to perform his work still needs to buy a powerful specialized computer, software and a lot of storage space. This kind of equipment is costly and cumbersome and he can’t perform his work on personal devices - those just lack the necessary computing power. Developments in technology force him to constantly change and upgrade his equipment and he has no efficient means for doing his work remotely, collaborating with other creatives at a distance or have effective, remote client feedback when working real-time. The only way to perform his demanding work is to buy expensive, massive equipment and work from a single place - local studio environment.
For Renderro it is a great opportunity to become a game changer. We provide a cloud based solution, which grants our users high mobility, security, high computing power and easy collaboration - all in a cost effective model.

Solution (product or service)

Renderro is a Cloud Workplace that allows filmmakers, animators and graphic designers to perform their work faster and cheaper. We make all the tools needed for audio/visual content creating processes easily accessible from any personal device. We grant our users high mobility, security, high computing power and easy collaboration - all in a cost effective model. Renderro is an "out of the box" solution for such creatives. This means that the only thing they need to do, is to load their media to Renderro and afterwards the workflow is exactly the same as with the traditional solutions. What changes is that the users have their projects always accessible to them via the internet, can work remotely, they don't need to worry about having the right computer for the job they want to do. They can also collaborate easily with coworkers or clients who are in different locations and all their data is safe and secure. What is important - thanks to the pay-as-you-go model creators pay only for time spent working on their projects.

Competitors

Our market is still in the "blue water" phase – at this point there is no single leading player. Majority of the market still uses traditional solutions based on physical, local infrastructure - powerful computers in a studio, connected to a NAS storage. When considering solutions with the concept of moving this into the cloud environment - then the closest to ours is developed by Bebop Technology. However, it is a complicated and un-user-friendly solution that still requires an infrastructure engineer on the client side to properly implement and manage it. It is also lacking some of the key features that are being developed by us.
Other similar solutions are Cloudalize and Paperspace; however, these do not have a clearly defined client group and so do not support key needs of our users. There are also emerging solutions such as InOneMotion and Vagon.io, that are focused on bringing Cloud Computers to the customers in the creative industry, but those focus only on the DaaS aspect, without providing those creatives with the collaborative work options.
There are also render farms like Rebus Farm, that help creatives do part of their work in the Cloud, but those allow only the last part of the creative process to be done there - process of rendering the project.
Next are companies such as Frame.io. Those tools allow only feedback on shared files, but all the work with the files themselves still happens on the traditional, physical infrastructure.
We also know that Netflix started developing their own DaaS platform for their internal usage, but knowing them it will be only available for the post production of their own content (we are in constant contact with the Netflix team based in Amsterdam).

Renderro differs from each of these competitors, due to our orientation on the entire content creating process (including editing, animating, rendering, collaboration between teams, creatives and decisive parties, as well long-term archiving of the projects) and a user-friendly interface.

Advantages or differentiators

Compared to traditional solutions our users will no longer need to buy specialized, powerful, stationary computers & storage space for work purposes, and will gain freedom to work wherever they are from their personal devices (such as laptops, tablets or smartphones) connected to the Internet. They gain the highest possible computational power without the need of buying any hardware, as well as high mobility, safe storage for all their data, easy, real time collaboration and sharing. All of this is in a pay as you go model which drastically lowers initial costs of demanding projects and so lowers the threshold of taking on such projects.
In terms of competitors from the innovation field; Renderro differs from each of the above mentioned competitors, due to our orientation on the entire content creative process. Moreover, our technology is user-friendly and easy to understand. Our user can do the whole workflow in one place (including editing, rendering, collaboration between teams, creatives and decisive parties, as well long-term archiving of the projects). Thanks to that Renderro is a much more viable solution to the creative industry when compared to the competitors.

Finance

We use a pay-as-you-go model. That means that for every minute spent working on Renderro the user pays an amount of money depending on the workstation he uses. (billed per session), from $1,6/h, the use of Cloud Storage (billed per month of storage) - from $30/1TB, and the use of licensed software provided by us (billed per session), from $0,1/h. Our solution is dedicated both to B2B customers (studios) and B2C customers (freelancers, students).
For major B2B implementations we are also open for discussing long term enterprise subscription models.

Business model

Renderro consists of 3 key elements: the secure cloud storage for all of users data, powerful cloud workstations and a managing platform which allows intuitive management of all of users data,workstations, projects and gives easy collaboration and team sharing options. Our solution is dedicated both to B2B customers (studios) and B2C customers (freelancers,students). We charge our customers in a Pay as You Go model for: time spent using Cloud Workstations (billed per session), from $1,6/h, the use of Cloud Storage (billed per month of storage) - from $30/1TB. For major B2B implementations we are also open for discussing long term enterprise subscription models.
In October 2020 we released the beta version of our product. Even though we only have made a silent release - up to date we have gained 455 early-adopters coming from 31 countries, with 98 credit cards attached. We are registering 47% CMGR growth in terms of user accounts, and 30% MoM growth of the webpage traffic with a 4,66% web page conversion rate.
Most of our monthly active users are freelancers or SMEs. We’ve recently been approached also by the bigger enterprises - one of them is HBS.tv - and we are still doing initial tests and negotiations with them, so no ground-breaking contract yet.

Money will be spent on

Firstly we are planning to spend money on expanding our product development team. Renderro is growing rapidly and our developers simply do not get on with such a rate. That is the reason why we have 5 positions opened for the product development team.
Also, we aim to expand the sales team. Now we have only one person responsible for sales and marketing, but we are in need of hiring 2 more people: salesperson and growth specialist assistant. We need to build new sales and marketing strategies as our current is definitely not optimized.
Last thing we are going to spend money on is installation of our own hardware. Now we are providing our service based on AWS, however we are planning to set up our own data centers. This action requires an investment at the beginning, but will increase the margin in the future.

Offer for investor

We provide investors an opportunity to invest in the fast growing startup at the seed stage. We are looking for €1M as a whole seed round with €300k already committed.
We estimate that investors will be able to liquidate their investments through an IPO or industry buyout in the next 5 years.

Team or Management

Risks

There are two main risks to Renderro. First is the scalability of our product - currently we are using AWS as a basis of our technology, however it does not allow us to properly scale our service and raise margins. The only way we see now is setting up our own data centers around the globe. This method requires investments at the beginning, but enables to raise margins in the future.
The second risk to us is that big players in the field of filmmaking industry will develop their own cloud environment for digital audio-visual content creators. As there is no single leading player on the market at the moment, in case any of the existing corporates will invest huge amounts of money and develop an analogue of Renderro, we would need to invest the same amount to compete with them. However if any of the big players would decide to develop the same solution as ours,firstly they will try to buy one of the existing solutions and here Renderro is at the first place among competitors.

Incubation/Acceleration programs accomplishment

In 2018 we took part in a pre-accelerator program ReaktorX by Reaktor Warsaw, to validate and develop the business idea. There the first building blocks for Renderro were laid. We created the Proof of Concept for the technology and have initially validated the market need. Our project was awarded first place in the DemoDay competition which concluded the ReaktorX program (January 2019). We also took place in V4 Startup Force Program (May 2019) and in the Founders Academy by Google for Startups (August 2019 - January 2020)
At the moment we are planning to apply to one of the accelerator programmes in the USA, as a lot of our current customers are coming from this market.

Won the competition and other awards

Our project was awarded first place in the DemoDay competition which concluded the ReaktorX program (January 2019).

Photos

Photo 1 - Cloud tool for creatives to work and collaborate remotely
Photo 2 - Cloud tool for creatives to work and collaborate remotely
Photo 3 - Cloud tool for creatives to work and collaborate remotely
Photo 4 - Cloud tool for creatives to work and collaborate remotely
Photo 5 - Cloud tool for creatives to work and collaborate remotely

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video