Assertion Not publicly verifiable AI assessment confidence: 85% certainty 4/5 debate potential 1/5

ZeroApp closed prior $700K round at a $1M cap in May

Alex Babin · EP 531: $5m Note Cap Pre-Revenue? How? With ZeroApp CEO Alex Babin · Jan 6, 2017 · at 11:20

Alex Babin, CEO of ZeroApp, details the terms and valuation cap of the startup's previous $700K funding round.

0:00 / 0:00exact quote · 0.9s

720p mp4 · rendered on demand · StarZero watermark

“It was one million.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

The claim, plainly

ZeroApp's initial $700,000 round closed in May 2016 was raised on a convertible note with a $1 million valuation cap.

a quote alone can be ambiguous, so this restates it with the references and context of the conversation around it resolved. AI-written; the tape below the player is the source.

Assessment

Alex Babin's statement regarding the specific private financing terms of ZeroApp's May 2016 round (a $700,000 convertible note with a $1 million valuation cap) cannot be verified or falsified using public records. SEC EDGAR filings show no Form D filings covering this transaction, commercial venture databases (such as PitchBook, Crunchbase, and Tracxn) do not record these specific instrument terms or valuation cap, and corporate disclosures from Zero Cognitive Systems / HerculesAI omit these early angel round specifics. Because private convertible note terms and valuation caps are non-public and no regulatory or corporate filings document the transaction details, the claim cannot be resolved with publicly available information.

No SEC Form D filings exist on EDGAR under ZeroApp, Zero Systems, or Zero Cognitive Systems, Inc. for a May 2016 offering of $700,000 convertible debt or a $1 million valuation cap.
Major venture financing databases (PitchBook, Crunchbase, Tracxn, PrivCo) track later institutional rounds (e.g., Series A in 2022 and Series B in 2024) but contain no documentation verifying the specific terms, amount, or valuation cap of the May 2016 note.
Official corporate announcements and disclosures do not publicly detail the financial terms or valuation cap of the May 2016 initial round.

Checked against

[1] tracxn.com [2] tracxn.com [3] privco.com [4] ropertech.com [5] sec.gov [6] sec.gov [7] pillsburylaw.com [8] investin.am

site:sec.gov/Archives/edgar/data/ "Zero Cognitive Systems" OR "Babin" "ZERO" "Alex Babin" "Gevorg Karapetyan" "convertible note" OR "700,000" OR "valuation" "Alex Babin" "ZeroApp" Crunchbase OR PitchBook "ZERO Cognitive Systems" SEC OR "Form D" OR EDGAR "Zero Cognitive Systems" OR "Zeroapp" "seed" "2016" "ZERO Systems" OR "Zeroapp" "Streamlined Ventures" "2016" OR "Seed" OR "700"

assessed as of 2026-09-02

This assessment is an AI reading of a public statement, made against the cited references with the confidence shown. It can be wrong. The quote, the tape and the references are all on this page; if something is off, use report an error below. full disclaimer →

Mentioned

ZeroApp

⚑ Spot an error? Report it

More from Alex Babin

Insight

Babin: Email winners will offer convenience over the best product

“I guess not the best one, but the one who will penetrate the market with the most convenient way for the user, for the customer, because what we experienced is that when we started targeting customers specifically corporate customers, we saw that they just don…”

Alex Babin Jan 6, 2017 ▶ 5:19 EP 531: $5m Note Cap Pre-Revenue? How? With ZeroApp CEO Alex Babin

Opinion

ZeroApp claims to be the only email client running AI on-device

“In our case, we're probably the only company that develops an artificial intelligence on device. It's a device centric. So it runs on the device itself, not in the cloud.”

Alex Babin Jan 6, 2017 ▶ 6:45 EP 531: $5m Note Cap Pre-Revenue? How? With ZeroApp CEO Alex Babin

Disclosure

ZeroApp charges enterprise users $299 per seat per month

“Right now we have two 99 per month per user.”

Alex Babin Jan 6, 2017 ▶ 9:46 EP 531: $5m Note Cap Pre-Revenue? How? With ZeroApp CEO Alex Babin

Disclosure

ZeroApp raises pre-revenue seed on a $5M capped convertible note

“It's convertible note capped.”

Alex Babin Jan 6, 2017 ▶ 10:23 EP 531: $5m Note Cap Pre-Revenue? How? With ZeroApp CEO Alex Babin

Disclosure

ZeroApp closed a $700k seed round from tech angels

“We have a seed round closed in May, 700 K, mostly from angels. We have a great, great investors from Google, ex-Googlers, ex-Amazon, Skype, I mean, all of the communication companies, so we have angels from this company.”

Alex Babin Jan 6, 2017 ▶ 4:00 EP 531: $5m Note Cap Pre-Revenue? How? With ZeroApp CEO Alex Babin

Assertion Not checkable as stated

ZeroApp reports 30k downloads, 10k MAUs, and 2k DAUs

“We have about 30,000 downloads with 10,000 monthly active and 2000 daily active.”

Alex Babin Jan 6, 2017 ▶ 7:17 EP 531: $5m Note Cap Pre-Revenue? How? With ZeroApp CEO Alex Babin

ZeroApp closed prior $700K round at a $1M cap in May

More from Alex Babin

Turn any episode into a week of clips.