Collabed is an online recruitment platform with an attached industry-specific social network.
- 14,000 users since June 2021
- Helping employers make effective recruitment decisions
- In 2020, construction recruitment projected to be fastest-growing
- Ambition to exit via trade sale in 4-5 years
Collabed started in November 2020 during the Covid-19 pandemic. Our aim is to bridge the gap between University and the Workplace as well as help solve the skill shortage within the Construction Industry. Our company was founded by Alex Ramsden who has 8 years of experience within the construction sector.
Collabed offers job adverts to companies and recruiters within the construction industry. We also screen candidates with plans to use AI/Profile matching to match candidates to jobs. We believe that the industry experience that our team brings to our business, as well as our advisory board, is what will set us apart from traditional job boards.
Our aim is to be the go-to recruitment platform for the construction industry within the next 4 years, offering quality candidates quickly and at a reasonable cost.
Substantial accomplishments to date
Back in April 2021 we ran a Crowdfunder campaign. We raised £6,200 from our community to launch the website. Since launching that website in May 2021 we have had over 12,500 sign ups to the social network/job board.
Since inception we have made contacts within the industry, working alongside several companies and forming partnerships with institutes such as the Chartered Institute of Architectural Technologists. Collabed has also raised money for charities within the construction sector, hosting a quiz to raise money for the Architects Benevolent Society and CIOB Assist charities in November 2021.
We also intend to use Indeed/Glassdoor and LinkedIn to bring additional candidates to the jobs on the site. We have started this process with Indeed to help grow our recruitment platform.
Our founder Alex Ramsden was one of the winners of the Young Entrepreneur scheme (hosted by Virtually There) in 2021. He has also pitched Collabed to the University of Northampton winning two grants totalling £7,500 with the latest being awarded in February 2022 worth £6,000.
Although Alex has years of experience within the construction industry. We felt that it was sensible to bring on advisors to fill in gaps of knowledge. These advisors come from several industries and bring a range of expertise to the business.
When the Collabed platform is fully live, job ads will be sold to recruiters and companies within the construction industry. A standard job ad will likely cost around £200 and will go live on the site for 30 days. All candidates that apply to the job will answer questions by text and voice and the employer can then see all responses as well as their CV.
Collabed intends to use LinkedIn and Indeed to increase the candidate pool so that the strongest candidates are presented to the employer.
We are aiming for an exit in 4-5 years either to a recruitment tech company or an existing job board.
There are other revenue streams that we intend to explore in the future. For example, Collabed could look to monetise the user base by offering premium subscriptions, allowing companies to advertise on the site, charging for learning courses and taking a percentage of sales from a freelancer marketplace.
Use of proceeds
We plan to use these funds to reach new clients to scale revenue and continue to develop the recruitment platform.
The breakdown of these funds are as follows:
35% - hiring a B2B and account manager
30% - marketing
25% - website development
10% - services such as social media management
The company has £150,000 SEIS allowance for this round. The first £20,000 reflected in the campaign is not eligible for SEIS. Therefore those investing until the campaign progress bar reaches £170,000 will be eligible for SEIS, and funds raised after this amount will be EIS.
The company has a £25,350 loan from the founder which doesn't accrue interest and will be repaid when the business is in a position to do so.
The funds from this round will not be used to repay this loan.
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