Oceain Insights

Idea

Introduction

AI (Artificial Intelligence) solutions help boost the accuracy in the hiring process, where they are found to be at least 25% superior to human evaluations.

We are a market and industry disruptor whereby traditional personality assesment methods can take anywhere from 20 minutes up to a full working day and longer. Using Oceain this can be reduced to 6-8mins in total. With the results being available in real time.

Oceain is a Digital Video Interview platform that utilises both AI and Psychometrics to provide an organisation with competencies-based outcomes and Personality Insights of any given candidate.

Client Testimonial: Alanna Turpin-Director at Omnicom Media Group

Oceain’s on-demand video screening tool accelerates, enhances, reduces bias and builds consistency in the applicant screening process. This capability makes the experience seamless and easy for recruiters, hiring teams, and candidates alike.

This is how Oceain will become the future of digital recruitment.

Substantial accomplishments to date

- We have acquired one of our largest competitors into the Oceain organisation.

- Invited to present at an International Psychology Conference as to how we are automating corporate personality assessments.

- Currently working with leading brands to name a few, AXA insurance, University of Notre Dame Australia, and a government contract with The Ministry for Health and Prevention.

- Our platform is post revenue

-Since mid-2020, we have completed approximately 17,500 digital interviews globally.

-Our aim is by the end of the current year to have over 35,000 Digital interviews completed.

Monetisation strategy

We have three prime Monetisation plans in place for the three categories of clients that we currently interact with.

1. Companies with 1,000+ staff generally move onto our enterprise model level.

2. We have subscription-based model for SME's

3. Pay as you use, for smaller company less than 20 people.

The above three categories have made us cash flow positive. However, the real value is in the data that is being generated by our platform.

Use of proceeds

- Marketing, PR and brand awareness to grow B2B and B2C.

- Growth of our sales team to match the lead generation from our marketing campaign.

- Further growth of our operations globally.

- Development of Strategic business partnerships

- Working capital in the balance sheet to allow continuous tech development and R&D

- Evolve Data collection and analysis that will allow us to potentially generate a new revenue stream