Sponsored by Outt.com
Outt.com aims to transform the UK social care staffing sector. Having already achieved 105% overfunding, with 290 investors thus far, this innovative team is hitting every target.
With investments starting at just £10.20 and ambitions to reconfigure the fragmented multi-billion pound care recruitment market, the potential is substantial.
The current Crowdcube funding raise closes on 11th December 2021, so there is limited time remaining for investors to get on board.
Outt.com Crowdfunding Investment Opportunities
Launched in late 2020 and initially focused on the Greater London area, outt.com was founder-funded in response to the widespread staffing shortages impacting social care across Britain.
Since then, the partners have developed a rapid registration model and future-proof digital application, embracing remote communications and dynamic responsiveness.
With a management team comprised of accomplished social care professionals, backed by digital expertise and proven through the Beta launch, the technological solution looks to:
- Reduce vacancy fulfilment from weeks to just hours, with in-built compliance functionality.
- Provide full candidate support 24/7, promoting fairer pay and enhanced worker rights – an approach which quickly attracted 700 applicants during testing phases – now at 2,500 registered candidates.
- Meet the extraordinary demand for qualified care professionals, forecast to reach an additional need of 490,000 care workers by 2035.
- Advocate for better employment terms, providing competitive pay rates, lower employer costs and fully compliant PAYE taxation structures.
The early-stage venture has achieved £669,000 in beta revenueto Nov21, a positive balance sheet in the first year-end accounts, and is now eager to push into the broader market.
Backed by an InnovateUK Government grant, the app has gained considerable traction during this period and is a participant in The Growth Accelerator programme.
It expects to generate revenues of £43 million, with forecast pre-taxation profits of £2.5 million over the next few years.
The Social Care Investment Climate
Worth over £50 billion a year, the adult social care industry relies on conventional staffing agencies that overwhelmingly fail to meet an ever-growing demand.
Disparate recruitment strategies, low retention metrics and failure to attract new talent and skill compound the issue, making it extremely difficult for millions of care facilities to offer sufficient capacity to generate viable profits and maintain high standards of care.
Outt.com, designed and tested by a highly experienced team, addresses these entrenched issues, reimagining the agency fee model to offer a streamlined, digital and highly effective alternative.
This approach uses tech-led strategies to offer cost reductions, higher placement competition, and absolute flexibility for employers and candidates.
Steve O’Brien, the co-founder alongside head of legal Ben Oakley, says:
“The social care sector is amidst a huge staffing crisis.Over the last 18 months, our team has developed new tech to provide a real solution.
As a technology-powered, people-based business, we knew that crowdfunding was an excellent chance to offer investment equity to get involved in the company through a regulated platform.”
Investment take-up demonstrates a keen appetite to support the Outt.com mission, building on existing accomplishments to pave the way for faster, fairer and ultimately more efficient social care recruitment.
Invest in Outt.com Through Crowdcube
Interested investors have just a week to take advantage of this exciting crowdfunding opportunity, set to close on 11th December with significant overfunding.
When the raise ends, the business intends to:
- Release the fully tested software to the broad UK social care market, expanding recruitment capacity and accessibility to organisations across the board.
- Invest in sales team growth, enhancing the existing strong social media presence, and reporting in high-visibility publications.
- Launch into the next phase of enterprise growth, hitting a market in severe need of reform.
- On-board employers in major metropolitan regions and key social care hubs, including Birmingham, Manchester and Sheffield.
- Prepare for a submission into the NHS tendering process in 2023 (annual spend £6.2 billion on temporary and contract staffing).
- Invite new applicants, targeted to reach 700 per month as indicated by test campaigns.
When Outt.com hits the market running, it intends to make a sizeable impact and forever change how managers in social care organisations rebalance their depleted workforces.
Capital as risk.