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Imployable

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Disruptive SaaS, recruitment/edtech startup, supporting people, businesses & the economy with employment

228%
 - 
Funded 26 Mar 2021
£100,000 target
£228,734 from 276 investors
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Business overview

Location Plymouth, United Kingdom
Social media
Website imployable.me
Sectors Recruitment & Procurement Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 10850868
Incorporation date 5 Jul 2017
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Investment summary

Type Equity
Valuation (pre-money) £5M
Equity offered 4.34%
Tax relief

EIS

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Business highlights

  • 7 contracts won with DWP in November at a value of £493,750
  • £99,249 Innovate UK Grant won in November
  • Clients/Partners - UK Gov, Babcock, BP, Sodexo, Google, Serco
  • Multi-award winning inc NatWest Entrepreneur of the Year Award
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Key features

  • Secondary Market
  • Nominee investment min. £10.20 +

Idea

Introduction

Imployable is a mobile application that allows people to identify, map and track their way in to a career. Our users build a digital profile which acts as their online CV (also exportable as physical CV). Once their profile is built we show them, as a percentage, how they fit compared to potential careers and live jobs on our jobs board within the app. We show the users what experience & qualifications are needed, what they are missing and allow them to search and apply for training and volunteer roles in the app.

The app is completely free, all encompassing & completely user centric, with integrated coaching suite, local & national support organisations, career insights and live jobs, experience and qualifications boards.

Imployable is accompanied by a free to use web platform that allows organisations to post jobs, training & experience, currently used by over 270 businesses including BP, Metro Bank & Sodexo. We are now in partnership discussions with The Open University and Virgin.

Substantial accomplishments to date

Founded July 2017, imployable went through a lengthy R&D process before its official launch in October 2019. The app launched by Minister for Veteran Affairs Johnny Mercer MP & former head of O2 Business Simon Devonshire OBE at our office in Plymouth.

Achievements:

- Partners/Clients - Google, Babcock, Study Academy, Pirkx, Open University, and in discussions with Virgin & Indeed

- Featured Forbes, Telegraph, Evening Standard, Daily Mirror, BBC (News and Radio)

- Won NatWest Great British Entrepreneurial Spirit Award - Regional & National

- Inducted to HubSpot & AWS Startup Programmes

- No 1 trending business app on Google Play in April

- A first of its kind, paid pilot for the police, providing a 4-day resettlement course due to be rolled out as a service

- Exploring with Lord Waverly to launch app to governments around the world, in long term global strategic partnership to create in-country talent pools to boost local & national economy

- Working with Devon County Council & Kent Council to support post covid job creation & economic support, supporting future of employment & education

- 7 DWP contracts won Oct 2020, contract value up to £493,750

- £99,249 Innovate UK Grant won in November 2020 to develop live data intelligence and cohort management dashboard

- Finalist 6 awards in 2020

- Gave 1% of our company to a random unemployed person in JobCentre to spark social movement in businesses

Monetisation strategy

Imployable is a multi-revenue startup, leveraging every arm of the company to realise value, creating an ecosystem where multiple areas of our business are monetised & working in conjunction.

Imployable is split into 4 departments - app, recruitment & employer branding, big data intelligence, coaching, and support. Each department works together whilst being independent, each department has its own teams, targets, and revenue streams.

Imployable App - Completely free for users with subtle referral partnerships (Pirkx, Study Academy) - proved revenue & we aim to see a significant increase as we scale our userbase.

Recruitment & Employer Branding - Packages that allow businesses to target job posts whilst boosting their employer brand.

Visum - Data for good, aggregate & anonymous data for a live labour market intelligence dashboard and cohort management system (SaaS).

Training & Support - Bespoke physical coaching & resettlement programmes for government contracts.

Use of proceeds

Strategy moving forward changes from increasing runway (80%) & growth (20%) to acceleration of growth. In the last few months we have won 7 contracts & Innovate UK grant, allowing us to allocate revenue of our run rate business to runway, giving us the freedom to allocate the investment funds as follows:

25% - Staff - Marketing, sales staff

15% - Development - In-app personality profiling, we will be able to show app users how they fit personally compared to potential & live jobs & increase value proposition

60% - Marketing - We have gone through extensive testing with a relatively small userbase (15,000). These results allowed us to change the onboarding process, improve app features & get product-market fit. We are in a position to scale our userbase with less churn risk, with an initial aim to hit 50,000 app users by June 2021. The budget is to be split between user acquisition, brand awareness, and sales

The overall aim of the investment is to help increase ARR quickly and attract Series A investment mid next year.

Key Information

Outstanding debt

The company has the following outstanding loans:

1. A Bounce Back loan of £40,000, interest-free for 12 months, and 2.5% thereafter. This is to be repaid over 60 monthly installments starting May 2020.

2. A £200,000 loan from The Una Group Limited. This has an interest rate of 7% per anum, This is not to be repaid until February 2023, however the lenders have the right to demand repayment in the event of a sale of 50% or more of the equity of the company. Please note, one of the directors and 50% owner of The Una Group Limited is also a shareholders and Director of Imployable, and another director and 50% owner of The Una Group Limited is a shareholder in Imployable.

None of the funds raised in this round will be used to repay these loans.

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If you successfully purchase a share lot of this business, you will be granted access.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited (trading as Republic Europe) ("Republic Europe"), which is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Republic Europe platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Republic Europe platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Republic Europe does not make investment recommendations to you. No communications from Republic Europe, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Republic Europe does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Republic Europe, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £5,042,310

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

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Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

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Nominee investment

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

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Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

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Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

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