AnyGood?, the crowdsourced talent platform, addresses the failings of the recruitment industry, rewarding the power of human relationships and networks to ensure employers get access to the best recommended candidates, faster and at a lower cost.
Unlike agencies, who often have no personal connection to the candidates they submit, AnyGood? members have a real-life relationship with the professionals they recommend and therefore would have an in-depth knowledge of their capabilities and suitability for the role. With AnyGood? they get rewarded with £1,500 for every recommendation subsequently hired.
Even though we generally feature roles paying £50k and above (or £500 p/d for more than 3 months), we still charge a fixed £6,500 fee, well below standard agency rates where a senior hire could cost tens of thousands in the first year.
With the £1,500 reward, AnyGood? members receive their share of the fixed fee, far outstripping most agency or in-house referral schemes. Members also enjoy an additional 10% profit share in AnyGood? based on their activity and value to the platform, and members who invest in this crowd raise will have their £1,500 rewards raised to £2,000 for 18 months following successful close of the round.
The recruitment sector is an out-dated space, where stakeholders rarely have transparency or a truly exceptional experience, especially compared to the high fees charged. We feel that systemic inefficiencies result in significant time to hire, and a focus on quantity over quality means that employers and candidates often both lose out. While other industries have now been disrupted by sharing economy propositions, we feel the recruitment industry has fallen behind this curve.
We believe we have now found the solution – the model of crowdsourced talent.
An AnyGood? candidate has been personally recommended for a specific role by a member of AnyGood?’s network of professionals.
By crowdsourcing talent the AnyGood? way, we believe there’s more credibility, more opportunity, and less scope for irrelevant CVs to be blindly trafficked. Our focus on real-life connections is a key element in ensuring that quality, not quantity, is protected within the recruitment process. All this at a lower cost than the current market rate.
Substantial accomplishments to date
AnyGood? has hit a number of key milestones to date:
- 320 successful candidate referrals.
- 117 roles added in 2018.
- 686 unique members logged onto the platform in 2018.
- AnyGood? app went live in 2018.
- 42 recognised clients reached.
- Platform currently boasts over 1,100 members.
- In 2018, PwC recognised us as a high quality start up, ready to scale, and invited us to join their Female Founders programme. We have since retained close ties to the multinational professional services network.
- We are currently on the Business Growth Programme for the Mayor of London’s official promotional agency, and will look to continue on to their international programme this year.
- We were recently approved by Sharing Economy UK, who recognised AnyGood? as an example of a true peer to peer model, helping to make the UK a global centre for the sharing economy.
- Recognised partner of Beam, winner of London Homelessness charity awards 2018.
The AnyGood? proposition falls within the rapidly growing sharing economy sector, with a forecasted global growth to $335m by the end of 2025.
We have estimated to reach 287 clients within the three year model. With a current average of 7 candidates per client, this client model would have to account for 840 placements at £6,500 per placement, within the three year period. We believe that this forecast is particularly conservative given the scale of the market that we are operating in. The base case only considers international expansion to two additional territories, beyond the UK. Reality would suggest that there are far greater opportunities for international expansion.
We plan for this primary revenue stream to be supplemented with the introduction of retained clients towards the end of 2020, with the business projected to retain 103 accounts by the close of 2021.
Use of proceeds
We are planning to complete this round of crowdfunding investment by Q2 2019 to capitalise on the growth opportunities we see before us. We have a proven business model, a winning sales formula, a proprietary website and app, and a database of highly engaged, loyal clients and members.
We plan to accelerate our growth by expanding our footprint in a high growth market, by delivering best in class and disruptive recruitment solutions for clearly defined, existing problems, by developing a brand that stands out against the competition. We'll also prove the value of our world-class management team through opportunity qualification and development support.
In order to do this, we need investment towards:
• Membership Acquisition;
• Marketing Campaigns;
• Web, App and Platform Development;
• Operational overheads.
AnyGood? currently has outstanding convertible loan notes totalling £350,000. These notes have an interest rate of 5% per annum. The conversion mechanism for these notes is as follows: (i) the notes will convert with a 20% discount on the price per share in the event of a successful fund raise of £5,000,000; or (ii) the notes will convert on the maturity date of 31 December 2019 into shares representing 4.7% of the Company's share capital.
Please note that investors in this round will be diluted by the conversion of these loan notes.