The numbers were out in force for the August edition of Startup Victoria‘s monthly pitch night. A full house (no doubt helped by a new beverage sponsor…) heard from another batch of startup hopefuls, operating in very different sectors: medtech, recruitment, food logistics and domestic services. Despite some AV issues, this event showcased some interesting businesses, all of them demonstrating some impressive early stage traction.In order of appearance, the night’s pitches came from:
Launched in April 2016, this online tool allows recruiters and hiring managers to film, edit and share their job ads. The business already boasts more than 60 clients (some of them very high-profile), with the data suggesting an 82% higher success rate in hiring outcomes. This performance is largely attributed to the simple fact that candidates spend up to 4 minutes watching a video ad, rather than the average 12 seconds candidates spend reading a text-based ad before they submit an application.
The tool, which runs on a mobile device, includes a tele-prompt feature, in-app editing functions, a one-step process to publish to social, plus e-mail. Customer pricing is based on a $79 monthly subscription to place unlimited video ads. One reported benefit for clients is much stronger candidate short lists.
Given the changing dynamics in the recruitment market, where companies are finding themselves competing for talent and striving to become employers of choice, any new hiring solution has the potential to be a game-changer. Which is what the founders are probably banking on as their exit strategy, with a likely trade sale to a complementary recruitment platform.
This medtech startup (previously known as ManageBGL) offers an app-based solution to help diabetes patients manage, monitor and predict their blood glucose levels. Despite regular patient testing, according to the founders, 80% of the data is actually ignored.
Able to offer more “real-time” testing, the app claims to fix wrong insulin doses within 3 hours (not the usual 14 days with traditional clinic-based testing), offers more precision dosing, and predicts patient levels up to 8 hours ahead.
It also has the option to incorporate live exercise data (from wearables), and serve patients who can’t afford expensive insulin pumps. As well as paying a monthly subscription, patients are also paying for insights based on the data. With a $10 per month fee, over 80% customer retention rates, and around 600 sign-ups per month, the app is breaking into the US market.
Asked about potential risk factors and the margin for error in patient testing, the founders explained that the user results are somewhat conservative, so they are embarking on clinical trials to refine the analytics.
Billed as “your very own personal butler”, Jarvis is one of a number personal concierge services, catering to the time-poor, inner-city residents who want to outsource domestic chores and errands.
From $33 per week (and an average of $55), Jarvis differentiates itself by offering a more personal touch, because the business hires and trains employees, rather than using freelancers or contractors.
Launched in January 2016, Jarvis is experiencing 20% growth per week, 90% customer retention, high referral rates and generating 10-15% margins. The founders are working on their logistical efficiency – routing, grouping – and deploying scalable technology – such as cluster algorithms. Pat of the attraction for clients is the fact that Jarvis does not see itself as a transactional service like some freelance and task-based apps and platforms.
The panel of judges asked about the risk of being disintermediated (by their own employees going direct to client). Jarvis claims that their key defense is the proprietary Butler app for employees.
Last up was Pantreeco, which was established in 2014, with the goal of building “productive partnerships in food” by streamlining the logistics and supply chain communications between food suppliers and buyers.
A self-styled “co-commerce” solution, Pantreeco includes a messaging tool between producers, wholesalers, distributors, restaurants, cafes, grocers and providores.
Offering a freemium SaaS model (based on a per customer per channel basis plus commission), Pantreeco is in the process of taking its model to overseas markets via some major international expansion.
Asked by the judges about the competition, such as TradeGecko and Unleashed, the founders stress that they are not simply an e-commerce or inventory management solution. Instead, Pantreeco developing a range of integration services in response to customer demand – e.g., invoicing, accounting, communications as well as inventory management with 3rd party platforms such as Xero, ZenDesk and SalesForce. They also have plans to on-board major enterprise clients in the food and beverage industry.
Based on the audience voting, Pantreeco took out the honours on the night.
Next week: When robots say “Humans do not compute…”