Photo - VideoCV.io
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VideoCV.io

Job Application with Emotion

USA, New York
Market: Another
Stage of the project: Prototype or product is ready

Date of last change: 10/23/2018
Min investment
$  250.000
1
Total required
$ 1.000.000
Rating
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Idea

VideoCV allows hiring managers to quickly get job candidates, getting an intimate and realistic idea of the person you are looking to hire through the video based platform. Employers can spend less time in the interviewing process by utilizing our technology, helping your organization to recruit the best team members.

Current Status

In the beginning of 2017 we launched our MVP and soon got our first paying customers. Later we made agreement to integrate our service with CV-Online ( job board, part of Monster Group ) to offer their clients video recruitment. This integration can expand to other Baltic countries.

Now we have Country Managers in Lithuania, Denmark and Australia. Soon will open more markets.

Market

$300B - HR Tech market size.

7 Million - Job openings per year.
4 000 - Job postings in NYC every month.
These numbers are for only USA, but the opportunity is global.

Problem or Opportunity

Popular employers receive more than 100 (sometimes even 1000) resumes for every vacancy advertised. Going through all applications, commonly 3 pages per resume, is very time consuming process, even that there will be applications left to sift through.

$ 4 , 0 0 0 - per candidate on Interviewing, scheduling and assessments.
42 DAYS - The average time to fill.
MEDIOCRE - High quantity of low quality applicants.
COMPLEX - Poor job descriptions, information overflow.




Solution (product or service)

SCREEN CHEMISTRY
Hearing someone talk and seeing how they present themselves will give an employer valuable insight into their character, confidence levels and personality traits. The viewer can see how the candidate might fit into their team and how they come across to an audience.

BODY LANGUAGE
Exaggerating, or falsifying qualifications and experience is very easy to on a paper. On camera, it is far harder, as nine times out of ten, a person’s body
language will give them away.

REPEATED VIEWINGS
VideoCV allow the viewer to watch the application more than once, and to share with colleagues to solicit their opinions. A candidate’s strenghts and weaknesses can be discussed at the same time as the video is running to see if everyone in the room thinks the sam about them.

Competitors

HireVue - biggest competitor. Their recruitment process takes 40min.

VCV, JobVite and other similar video recruitment tools offer their solution for in-house use only and they are closed systems.

Greenhouse, Workday, iCIMS and other similar ATS providers and old dinosaurs on the market. They do not have video recruitment solution at all.

Advantages or differentiators

VideoCV advantages:

Interview process takes only 2-3 minutes.
AI interface.
Different games and tasks.
ATS capability.
Only important data that recruiters really need.
Open platform for everyone to browse job offers and apply.
Talent bank where everyone can upload their VideoCV and send it to the employer.

Finance

In the next 5 years we have reached 2500 monthly job postings that generate $1M revenue.

Business model

One job posting per one month starts from $400.

Money will be spent on

50% of Sales and Marketing - build up teams in USA and Europe.
30% of R and D - to develop new games and task, AI integration and testing.
20% of Operational - to keep this epic company running.

Offer for investor

Discussed personally in the process.

Risks

In every internet business there is risk for someone to copy, if they have better team than us and a lot of time and money.

Incubation/Acceleration programs accomplishment

Starta Accelerator

Product Video

Website address

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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
Website address