Hardeep Singh
Achieve 10x more with Pigro’s AI and automation
Introduction – Pigro is a solution working on your knowledge base like a super powerful search engine. After inserting your question in a natural language interface, our Knowledge Retrieval algorithm provides a clear-cut answer picked from the knowledge base without the need to read tons of content.
The technology offered by Pigro allows you to have a setup time up to 10x faster than standard solutions and requires zero effort in maintenance. The system is dynamic, which means it imports and self-learns automatically from all-new content created daily, regardless of the file type or the repository the file is archived.
Early Days – Pigro technology was born in 2015 thanks to Nicolò Magnanini, a brilliant student and developer who invented the algorithm, and two passionate high school teachers and entrepreneurs, Armando Fontana and Daniele Galvani. They totally changed the semantic approach in AI-chatbot creation adopting a revolutionary statistical method.
But the product is not enough to make a company: you need a business model and you need to test it in different industries. This is the reason why Stefano Marzani, an engineer working in Silicon Valley, joined our team in 2016.
Stefano helped Nicolò to define the company mission, its value proposition and the revenue model. Thanks to Stefano, PIGRO technology switched to the virtual assistant market, clarifying Pigro’s identity as a valuable tool for optimizing customer service and internal help desk processes.
After validating the product in the Italian market on July 3th, 2018, Pigro entered the LUISSEnLabs acceleration program of LVenture Group, completing its team with an experienced sales and marketing person, Nicola Abbasciano (COO), and Ahmed Nasser (CTO), an expert data scientist.
In 2019 the team realized that Pigro had the potential to become much more than a chatbot: it could help organizations to solve the knowledge management problem much better than existing technology. Pigro started expanding in the Italian market as a useful tool for large enterprises’ Knowledge Management.
In 2020 the Pigro Team has grown up with marketers and developers. From the end of 2020 Pigro is moving towards the internationalization process from UE and UAE markets. The goal is to build a business network that acquires corporate customers and improves our core product with reference to the needs of the country.
Marketing Strategy – Pigro is a cloud solution for big enterprises. On-premise installation is available on demand. The pricing is made up of an activation cost – depending on customer needs – and an annual fee.
We started our internationalization process in April 2021 from Dubai thanks to Dubai Future Foundation and its acceleration program Area2071. We are working to move to a more scalable model. We are building a SaaS platform for the consumer market and small teams.
User Base & Valuation – Pigro at the moment works with big organization mainly in Italy as Sky (Comcast group), BNL (BNP group), Amadori, Credemtel, MSC Cargo, ACI (Automobile Club Italy).
Help desk process optimization and automation, knowledge retrieval, and knowledge sharing represent the “comfort zone” of Pigro technology.
Pigro can optimize Knowledge sharing between employees and departments such as the HR or IT division. It can support help desk employees in information retrieval from the corporate’s knowledge base and improve their productivity.
HELP DESK operation is a key factor in any corporation. Speeding up operations supporting help desk agents to browse the huge amount of information available is fundamental. Our pre-money valuation is 4.5 million €.
Funding – We’ve not opened any fundraising but we are looking for 1.5 million € for speeding up the internationalization path and developing the SaaS platform for individuals and scaling.
Revenues & Losses – Our expected revenue for 2021 is € 400K (+100% vs 2020). We are profitable and we achieved the breakeven point in 2019 (we have been incorporated in 2018).
Acquisitions – N/A
Awards – The awards are as follows:-
- October 2020: “Premio innovazione SMAU” thanks our project with SKY Italia.
- October 2020: contest “Atena startup battle” second place.
- October 2020: Accenture Special Prize – Gaetano Marzotto.
- February 2020: Sirti contest “Imprenditivity” category “Field data feedback” first place.
- October 2019: “Premio innovazione SMAU” thanks our project with Reggio Emilia municipality.
Present Time & Future Goals – Nowadays Pigro is an enterprise solution focused on Italian market. Our goal is to develop a SaaS solution for English speaking market for individuals and small teams. Becoming more scalable and international are our goals in the next 2 years.
Conclusion – Founded in 2018, Pigro is a b2b startup already profitable. Our solution fits big corporations and public administration needs in knowledge management.
Amid the COVID-19 crisis, the global market for Knowledge Management estimated at US$366.8 Billion in the year 2020, is projected to reach a revised size of US$1.1 Trillion by 2027, growing at a CAGR of 16.8% over the analysis period 2020-2027.
Let’s see how far we can go. For more information on startups, follow and stay tuned to StartupTrak.
