Can This AI Lead to Actual Sales? | Elevator Pitch S13 EP4 - video Dailymotion

Entrepreneur

Meet Andrew Swisher, founder of Covent, which helps GTM teams drive more leads, meetings and pipeline from events — and helps event organizers secure sponsors faster.  Get ready for the adrenaline rush of Entrepreneur Elevator Pitch! The stakes have never been higher as three powerhouse investors — Kim Perell, Laura Chau and Jonathan Hung — search for the next big idea.  But it's not just about drama — Chau cuts to the chase with one contestant: "Success equals money, which equals sales. So what are the sales for the business so far?" Meanwhile, Hung reminds pitchers, "You gotta have the ask ready no matter what. I need to understand what you want from me."

Transcript

00:00I'm Andrew Swisher, CEO and co-founder of Covent. Covent is the app that connects event

00:07organizers and event sponsors using AI. Covent's proprietary AI matching algorithm connects both

00:12sides instantly based on goals, getting events funded and sponsors better ROI. Our revenue comes

00:18from transaction fees and subscriptions for advanced features. We started with the B2B tech

00:22community in New York and San Francisco with plans to expand, and we're now asking for $100,000

00:27on safes at a $9 million valuation. I thought that was pretty good. We'll pitch. I thought it was a

00:35good pitch. I think he covered the bases. Yeah, did you want more? I was definitely curious. My only

00:40hesitation is that there's so many of these out there. I kind of like him. He's $20 million already

00:45committed from transaction fees. I wonder what percentage he is getting from that. Yeah. A

00:49little bit confusing in terms of how he's accounting for all of that. Should we vote?

00:53I like what you're building. I think there's a true market here. So much of this category is focused

01:01on the big sponsorships, and many times they already have their partners. So for that reason,

01:06I'm going to pass. Honestly, I love the idea, and I think there's a big market actually. But for me,

01:12fortunately, I'm passing as well. But Jonathan. Okay, Andrew. Let's do events. I'll give you $50,000

01:23if you give me five events for $10,000 in sponsors each. And then if you can get me more, I'll get

01:30you a whole $100,000. $10,000. Well, do we have a deal?

01:39Yes, we have a deal. Congrats. Let's do it. A match made in heaven. Let's go. Thank you.

01:50Thanks, guys. Congratulations. Thank you.

Can This AI Lead to Actual Sales? | Elevator Pitch S13 EP4

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