Evaluating only WaveAI’s profile at its peak — without knowing the outcome — the model ranked Competition as the #1 likely cause. Documented cause: Market too small.
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Documented cause
WaveAI built predictive workforce analytics for large enterprises, using machine learning to forecast attrition, productivity, and hiring needs. The product achieved strong NPS in Australian deployments with 35 enterprise clients including ASX-listed companies. However, the Australian enterprise market was saturated after 3 years and US expansion in 2020 proved costly: enterprise sales required local US sales teams, reference clients, and SOC2/FedRAMP compliance that consumed $4M in a single year without closing enough accounts to justify the spend.
Lesson
“US expansion for enterprise B2B AI requires 18 months of dedicated runway, local hires, and at least 3 US reference clients before you can compete. Plan for this upfront or stay focused on your local market.”