ReadiiTel Case Study

Overview

ReadiiTel Pty Ltd is a 100% Australian-owned telecommunications and managed Information Technology (IT) services company providing clients with a fast, flexible and reliable private network, Australia-wide. Through a custom-built optic fibre network and personalised customer services, ReadiiTel enables businesses to achieve their maximum productivity and performance. 

The company believe that every business deserves the same level of care and customer support regardless of their monthly spend, understanding that some businesses live or die based on internet access and IT support. Australia has long suffered from sub-par internet connectivity – currently 62nd in the world for broadband speeds - and service as a result of outdated telcos that are too big and impersonal. ReadiiTel strive to change this, providing Australia with the necessary solution.

Offer Highlights

After going through our due diligence process, we decided to partner with the company for the following reasons:   

Deep Industry Knowledge

Team come from a variety of complementary backgrounds, with extensive experience and understanding of the telecommunications sector.

Strong Pipeline

Established a strong sales pipeline with $70,000 in monthly recurring revenue and a clear expansion strategy to take its provision of Internet Services and Managed Services offering across Australia.

Robust Business Model

Business model incorporates both fixed and recurring revenue streams through a combination of both Internet Service Provider (ISP) and Managed Service Provider (MSP) offerings, allowing clients to have all of their telecommunications needs catered for through a single solution.

Industry Primed for Disruption

The telecommunications industry is dominated by large incumbents weighed down by outdated technology. These companies don't provide their smaller clients with the network service and customer service they require and deserve, something ReadiiTel currently seeks to address.

ReadiiTel’s CSF Campaign

With exciting plans to roll-out its Fixed Wireless network stations and expand its coverage across the country, ReadiiTel required capital to scale quickly.

As a B2B business, the company didn't have the benefit of a large database or social media following to generate initial interest in the offer. Instead the team engaged their personal networks and customers as well as undertook paid advertising to get the message out there. On top of this, our audience showed keen interest in the offer and through paid advertising, press (including Anthill, Chief IT, Daily Mail and The Australian.) and email communications, ReadiiTel successfully raised $425,750 from 154 investors, easily passing its minimum target in just 12 days. The average investment was $2,827 - more than $1000 higher than our usual average. The offer closed on Christmas Eve as everyone tucked into their Christmas turkey.

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