Oceain Insights, a digital video interview platform that uses AI to offer Corporate Personality Assessments, has raised 78% (£156,617) of its £200,004 target from 27 investors (at the time of writing) via Seedrs with 24 days left in the firm’s crowdfunding campaign.
Located in Haywards Heath, United Kingdom, Ocean Insights operates in the Data & Analytics sector (Digital Mixed B2B/B2C). Incorporated in August 2020, the company’s investment summary is as follows: Type Equity Valuation (pre-money) is £5.4 million; Equity offered is 3.56%; a £3.78 share price, along with Tax relief, EIS.
Here are the business highlights shared by the firm:
- Industry Disrupter
- IP Registered and Owned by Oceain
- Two Government Contracts & Multiple International Entities
- The Future of Digital Recruitment
Key features are as follows: Secondary Market; Seedrs nominee min. £11.34 +
As noted in the update, 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.”
The team added that they are (or claim to be) “a market and industry disruptor whereby traditional personality assessment 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 “utilizes both AI and Psychometrics to provide an organisation with competencies-based outcomes and Personality Insights of any given candidate.”
As explained in the update, 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.”
As noted by the firm, this is “how Oceain will become the future of digital recruitment.”
While sharing its monetization strategy, the company explained that they have “three prime monetization plans in place for the three categories of clients that we currently interact with.”
- Companies with 1,000+ staff generally move onto our enterprise model level.
- We have subscription-based model for SME’s
- Pay as you use, for smaller company less than 20 people.
As confirmed in the update, the above three categories have made them “cash flow positive.” However, the real value “is in the data that is being generated by [their] platform.”
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!