mVerify Investor Overview

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Private Equity XIX: 2007 National Venture Forum. New York, New York, Juen 8, 2007. Overview of the mVerify plan to provide a comprehensive solution for mobile app testing.

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mVerify Investor Overview

  1. 1. mVerify ® A Million Users in a Box ®Investor Overview Robert V. Binder, CEO Bob_Binder@mverify.com 312 881-7337 x1001 www.mverify.com
  2. 2. The Mobile Testing Nightmare  Mobile is a hot sector  Mobile app configurations increasing exponentially  More testing necessary for competitive quality, reliability, performance  Billions in avoidable cost and lost revenue mVerify Corporation Confidential 2
  3. 3. The mVerify Solution MTS  A Million Users in a Box ®  Architecture = 10 yrs custom + 2 yrs ATP R&D  Platform-agnostic, uniquely versatile  Edge: RFID, WiFi, GSM, CDMA, …  Core: Web Services, RDB, Beans, … Value Proposition  With MTS, solve the mobile testing nightmare  With MTS, slash time to market  With MTS, competitive reliability and performance mVerify Corporation Confidential 3
  4. 4. mVerify Customers mVerify Corporation Confidential 4
  5. 5. Current Pipeline Microsoft: Model-based Testing, phase II Harbison pitching C-level contacts at Boeing, Lockheed, Raytheon, BAE, … 1.6, MTS/NET: VOIP, multi-host, … Exclusive Reseller of Imbus TestBench Intelligent Decisions, Govt Sales Plan mVerify Corporation Confidential 5
  6. 6. MTS: Any App, Any PlatformConsole Host Agent Host MTS Model Editor MTS MTS Test Repository Agent/STE MTS TEST RUN Console REPORTS MTS Remote Agent Agent Host Client Plug In Under Test MTS Test Agent/STE Client Host Under Test MTS Remote Agent MTS Remote Agent Server Under Test Client Channel Under Test Emulator Server Host Under Test Client Host Under Test Host Under Test may be ü Cell Phone, PDA MTS Remote ü Desktop or Server Agent ü Embedded Processor ü Comm Interface Plug In Server ü Network Equipment Under Test ü Access Point Server Host Under Test ü Base Station mVerify Corporation Confidential 6
  7. 7. SAAS Offering Patent Pending mVerify Certification Facility MTS Client Disruptive benefits: MTS Client Account Management Channel MTS  Minutes, not Months Client Test Model Editor Emulator Virtualized  Near zero incremental Hand Helds cost Robotic Test Suite Test Suite Hand Held Generation Execution Harness MTS Client Opportunities  iPhone  Google Android  RIM  Verizon mVerify Corporation Confidential 7
  8. 8. Intellectual Property Automatic Test Generation  Automatic Model  Environment simulation Generation  1000x over manual  Enterprise license for global collaboration  100x over scripting  Create advanced tests from  Patent 7,339,891 simple lists  Advanced reliability testing Certification as a Service  Patent Pending  Test results in minutes, not weeks  Distributed Testing Platform  Very low incremental cost  High productivity, efficiency  World-wide enterprise solution  Platform/network agnostic, adaptable framework  Platform/network agnostic, adaptable framework  Proven and stable  Patent Pending mVerify Corporation Confidential 8
  9. 9. Competitive Landscape TestQuest Mobile $6B mVerify Agilent, Ixia …Platforms Mobile Complete Mercury, Segue … Legacy $7B 1X 10x 100x 1000x Legacy Advanced Test Technology mVerify Corporation Confidential 9
  10. 10. 2008-09 Focus: Infrastructure 100 Addressable 80 Infrastructure 60Accts Market 40 20 MSPs DoD 0 Carriers 2008 2009 2010 2011 Mfg  Total Market: Infrastructure  220 Manufacturers  128 Carriers  104 DoD Procurement Units  464 Mobile Service Providers mVerify Corporation Confidential 10
  11. 11. 2009-11 Focus: Applications 1500 Addressable 1000 ApplicationsAccts Market 500 ISV 0 EIT ROW 2008 2009 2010 2011 EIT NA  Total Market, Apps:  1,000+ Independent Software Vendors  13,000+ Enterprise IT (U.S.,1000+ employees)  ~90% CAGR to $2B by 2010 mVerify Corporation Confidential 11
  12. 12. MTS Road Map Tester Edition  Enterprise Edition  Single user, 10 DUTs  Site License  1.6: GA Jun 08  Vertical solution bundles  1.7: GA Oct 08  Q3 2008 * MTS/NET (1.6)  Testing as a Service  VOIP Quality  Single User  Multi-host  Carrier Certification  Channel Emulator  Logo Testing  Q1 2009 * MTS 2.0  1000X Model-based  Team Edition  Symbian, LIMO, OHA  Work group  Q1 2009*  Q1 2009 * * Assumes Jun 08 funding mVerify Corporation Confidential 12
  13. 13. Core Team Robert Binder, Founder and CEO  32 yrs software entrepreneur and technologist, internationally recognized software test expert; MS, MBA John Harbison, Acting Director A&D Sales  30 years exp., President Raytheon Commercial Ventures, Booz- Allen Aerospace/Defense practice lead; MS, MBA, CPA Tony Wasserman, Board of Directors  CEO/Founder, Interactive Development Environments; VP of Bluestone Software; Professor at Carnegie Mellon West; PhD mVerify Corporation Confidential 13
  14. 14. How Will Funds be Used? Seeking $6M+, first institutional round Allocation of Proceeds  45% Sales and Marketing  40% Production  15% Operations Detailed monthly line-item budget Forecast cash-flow neutral in 24-30 months mVerify Corporation Confidential 14
  15. 15. Forecast 2007 2008 2009 2010 2011 ActualCustomers 8 55 539 1,313 3,698Revenue 80 1,023 3,135 10,340 29,809Expense 664 1,822 4,627 7,635 17,253EBITDA (471) (1,134) (2,394) 710 8,204 $ 000 omitted – Assumes 2009 Q1 Funding mVerify Corporation Confidential 15
  16. 16. Exits from Comparables Market cap, all app test firms, ~$10B Recent comparable exits  Dec 2002: IBM+ Rational= $2.1B (~$420M testing)  Feb 2006: Borland + Segue = $100M  June 2006: HP + Mercury Interactive = $4.5B  June 2007: IBM + Telelogic = $745M All were start-ups Possible acquirers  Agilent, IBM, HP, JDS Uniphase, Ixia, Spirent, … mVerify Corporation Confidential 16
  17. 17. Why Invest in mVerify? Unique solution for mobile testing nightmare IP for rapid growth, competitive advantage Amazing achievements while bootstrapping Proven traction Disruptive value proposition in space growing 90% to $2B Comparable exit multiple: 3.8 mVerify Corporation Confidential 17
  18. 18. Q&AmVerify Corporation Confidential 18
  19. 19. Back Up mVerify Corporation Confidential 19
  20. 20. Strategy for Market Dominance Continuous Disruption  Set the marketplace agenda Tactical IP Initiatives  Limit competition, protect our position Agile Marketing  Word of Mouth, Web 2.0 campaign Compelling Innovations  High value, excitement, brand leadership Optimal Development  Sustainable codebase, low cost, managed, agile mVerify Corporation Confidential 20
  21. 21. Sales Plan, Large Manufacturer ~15-20 big projects ~150 opportunities $6,000,000 Annual Enterprise Team Assumptions $5,000,000 Tester  5% initial penetration $4,000,000  60% saturation $3,000,000  15% Tester Ed @ $30K  35% Team Ed @ $80K $2,000,000  10% Enterprise Ed @ $250 K $1,000,000 $0 Y1 Y2 Y3 Y4 Sales Plan, Large Manufacturer mVerify Corporation Confidential 21
  22. 22. mVerify Background  1994-2001: develop custom test automation for mission-critical apps  National Security Agency, Naval Air Warfare Center, JMPS Compatibility Lab, McDonnell-Douglas,RBSC NASA/JPL, Ford DAI, Lucent, Motorola Iridium, Nokia, Fannie Mae, Caremark, Exxon Production Research, Union Pacific, The Options Clearing Corp  Chicago Board Options Exchange  1999: Binder publishes definitive Testing Object-Oriented Systems: Models, Patterns, and Tools  1,098 pages  Translated to Chinese, Polish  10,000+ copies world wide mVerify Corporation Confidential 22
  23. 23. mVerify Background Mobile Systems Verification  March 2001: mVerify founded to productizeA Million Users in a Box™ approach for mobile systems  January 2002: Patent app: “Method and System for Evaluating Wireless Applications“  May 2003: $1.9M NIST/ATP award  May 2005: AMATE demo, ICSE 25  June 2005: MTS 1.1  May 2006: MTS 1.2  Oct 2006: MTS 1.3  July 2007: MTS 1.5  March 2008: US Patent 7,339,891 mVerify Corporation Confidential 23
  24. 24. Simulation, Testing, Monitoring Real System Of World Inputs Outputs Interest Discrete SOISimulation SOI Model Event Input Synthetic Input Behavior Synthetic Response Output Analysis Predictions Generation ModelManual Inputs System Outputs TestTesting Under Test Pass/FailMonitoring Real Inputs System Outputs Condition Alarms World Under Test CheckingScripted Input System Check Test Inputs OutputsTesting Script Under Test Script Pass/Fail mVerify Corporation Confidential 24
  25. 25. MTS Advanced Test GenerationReal System OfWorld Inputs Outputs Interest Environment Model MTS/STE System Test Environment Inputs Outputs MTS Under Test Pass/Fail Simulator MTS Expected Output System under test not simulated or emulated 1000x better productivity 1000x better effectiveness mVerify Corporation Confidential 25
  26. 26. MTS Tester Edition Features Distributed Test Harness  Performance Monitoring  Edge to Core  Collect real-time metrics  Object-Oriented  Plug-in + XML-schema  Scalable  Function & Performance test Test Objects  Trend graphics, data detail  Best practice  Stochastic Test Engine  One-click repeat  Automatic test generation  Composable, Reusable,  Accurate reliability analysis Data-driven  Simulation-based generation  Open Source (Tcl)  Millions of tests in minutes Test Run Reports  Adapters (1.5)  Generated in real time  Win CE family  Browser  Web Services, DBMS, *nix  XML test log  Bar Code Image, GPIB  Summary, detail, exceptions  Framework – any GUI or API mVerify Corporation Confidential 26
  27. 27. MTS Tester Edition mVerify Corporation Confidential 27
  28. 28. MTS Tester Edition Capabilities Simultaneously test up to ten handhelds per desktop Record any user scenario for verbatim replay Fully automatic analog or data comparators Any Windows CE device or emulator One-Click Repeat™, run unattended tests over 24+ hours. Open Standard Tcl (Tool Command Language) Advanced object-oriented testing framework Automatic test object generation Reuse or customize any test object in any test suite APIs for web services, C#, C++, Java, XML, SOAP, databases, … Monitor testing anywhere with instant email notification XML test logging Detailed test run reports viewed in any web browser mVerify Corporation Confidential 28
  29. 29. Applications and Benefits Benefits  Up to 80:1 reduction over manual test time  Reliability metrics for release, accept/reject, compliance  Consistent and repeatable  Scalable to system of systems Applications  Testing: functional, stress, load, stability, reliability, regression  Debug, tuning, calibration (retest after change)  Security evaluation – abuse case generation  End-to-end, Edge-to-core, mobile, wireless, multi-tier  Any embedded API, Server mVerify Corporation Confidential 29
  30. 30. MTS/NET Lab Configuration MTS Test VOIP End Point VOIP End Point  VOIP End Point Agent MTS Test Agent CE IUT IUT RA IUT IUT MTS ControllerConsole VOIP VOIP End Point Channel End Point Emulator POWERFAULT DATA ALARM MTS ComponentMTS Test RA RA RA RA RA RA Agent Wired TCP/IP USB IPC WiFi mVerify Corporation Confidential 30
  31. 31. MTS/NET Field DeploymentMTS Test Agent VOIP End Point VOIP End Point  VOIP End Point MTS Console MTS Test Agent Cabin Satellite MTS Test Access Agent Data Link IUT Point VOIP End Point RA RA RA RA RA RA Ground Station MTS ComponentMTS Test Wired TCP/IP Agent USB IPC WiFi mVerify Corporation Confidential 31
  32. 32. MTS/RCT: Certification as a Service The Pain: Logo and Certification Testing  Manual, bottleneck, superficial  Dev community resistance Rapid Certification Testing: MTS/RCT Solution  Test results in minutes, not weeks  Supports world-wide enterprise solution  Platform/network agnostic, adaptable framework  Patent pending Straightforward extension  Re-configure client and server deployment  Add Account Management Cooperation sought  Business: Carrier designation  Technical: Manufacturer stack support mVerify Corporation Confidential 32
  33. 33. MTS/RCT Overview mVerify Certification Facility MTSClient MTSClient Account Management Channel Emulator MTSClient Test Model Editor Virtualized Hand Helds Robotic Test Suite Test Suite Hand Held Generation Execution Harness MTSClient mVerify Corporation Confidential 33

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