Photo - Moticheck
play_arrow
View
58642

Moticheck

An always on employe experience monitoring

Estonia
Market: Consulting, Services, Other
Stage of the project: Operating business

Date of last change: 11.01.2023
Go to the owner's profile
2
equalizer from 2000
help
Calculated and estimated occupancy of the project (more about ratings)
My rating
1
2
3
4
5
6
7
8
9
10
Average rating:
 

Idea

The continuous employee experience monitoring SaaS tracking your employees' vitals with a tool that acts as an always-on smartwatch for your business to save costs and retain employees.

Current Status

MRR 6,800
15 paying customers
first customers still with us, 18 months since MVP
3 FTEs onboard

Market

Employers who employ primarily technical know-how.
Employers who work in several locations or exercise remote or hybrid work.

Northern Europe, USA, India, Malaysia, Philippines

The total HR market is $90bn, the niche we are in was at 15bn in 202 and is forecasted to grow to 25bn by the end of 2025. There is strong demand for the next level of employee engagement and feedbacking tools.

The market is heavily supported by hybrid/remote work, globalization, and M&As.

Problem or Opportunity

Listening to employees getting them engaged and involved to cut churn and costs and improving productivity and leadership quality are the biggest HR challenges companies are facing. Ask any HR leader and they say that they have no clue how people are doing in different roles and the employee surveys do not deliver as no one is using them. Great resignation. Quiet quitting. We would not have these phenomena if we companies would master employees' work life as expected.

Solution (product or service)

We help companies in:
- making decisions earlier and making better decisions
- saving on HR costs
- improving employee retention
- improving leadership quality
- saving up time
- engaging employees and improving employer brand
- digitalizing employee communication
- reorganizing work
- manage HR risks
- measure mental health issues among other categories of employee experience

Competitors

Explained in the deck. The HR tech is full of different niche operators. It is like fintech - a very large market, but also very many players.
- all-in-one HR systems - clumsy and not employee friendly;
- do-it-your-self kits and platforms - are time-consuming, and data leakage risks are high
- consultancies - can not provide always-on service, cannot cover the whole employee experience circle. Cannot deliver results to employees in a reasonable time, if at all.
- AI that reads employee sentiment from text and speech - people do not trust it and do not buy it. It is disengaging to employees.

Advantages or differentiators

Our unique approach gives us hedge in:
- ease of use
- rollout costs
- UX
- actionability
- ROI

Instead of focusing on HR challenges like most of our competition does, we focus on employees and the direct manager's relationships. We collect ~100x more data than the competition and enable early alerts, and better decisions. We are moving towards ML/AI management advisory service.

Finance

MRR is ~7k
The average MRR is 500/customer (improving)
Costs are ~8k
CAC is 3,5k
CLTV is 25k+

Business model

B2B SaaS, monthly or annual subscriptions based on the number of employees/users per

Money will be spent on

It is all about the people and networking:
- Inbound marketing people
- Outbound salespeople
- A customer support resource
- Product/IT Development resource
- Teambuilding/admin cost

$1m will give us a runway of 18-24 months and make Moticheck cash flow positive by the end of 2025 if SAM ambitions are retained.

Offer for investor

1000000 will buy 12%-18% of the company. We are looking to both leaders of the round and participants.

Team or Management

Risks

Key employee risk
Investing too much in a market that has not been prototyped/tested
Key customer risk in the early years
Risk of competitors catching up

Incubation/Acceleration programs accomplishment

GSD VC Accelerator and the BOSS program July-November, 2022
Selected to Huge Thing Accelerator Google for Startups in June 2022, but we opted for the US-based GSD VS Accelerator.
Vesbee startup of the month in July 2022

Won the competition and other awards

HR media is rather interested in what we are doing and how we are solving the challenges related to employee churn, quiet cutting, and leadership quality.

Photos

Photo 1 - An always on employe experience monitoring

Product Video

5,00
1
2
3
4
5
1 voice
Sign in/Sign up
arrow_back
EN
more_horiz
close
visibility388
star0
Add to favorites
Delete from favorites
share
close
thumb_up1
Like
Unlike
Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
Presentation