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Oceain Insights

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A Digital Video Interview platform that uses AI to provide Corporate Personality Assessments

109%
 - 
Funded 9 May 2022
£200,004 target
£218,257 from 146 investors
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Business overview

Location Haywards Heath, United Kingdom
Social media
Website www.oceain.ai/
Sectors Data & Analytics Digital Mixed B2B/B2C
Company number 12795199
Incorporation date 5 Aug 2020
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Investment summary

Type Equity
Valuation (pre-money) £5.2M
Equity offered 4.06%
Tax relief

EIS

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Business highlights

  • Industry Disrupter
  • IP Registered and Owned by Oceain
  • Two Government Contracts & Multiple International Entities
  • The Future of Digital Recruitment
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Key features

  • Secondary Market
  • Nominee investment min. £11.34 +

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

Key Information

EIS Tax Relief

The company has submitted their application for Advance Assurance they they are eligible for EIS relief. As they are still waiting for confirmation, the campaign is currently not tagged as 'EIS' compliant. Once this is verified, the campaign will be updated.

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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

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 £5,161,968

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.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

Nominee investment

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the 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.

Learn more about Custodian here

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.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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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.

Learn more here

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

A security token is a digital asset that represents ownership or other rights. It is a digital form of traditional investments. In the future, you may be able to trade your investment through compatible exchanges.

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