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Watch their pitch and Q&A session with FundedHere!
The biggest challenge for any business is signing up customers. In India, it is extremely difficult to get customers through digital channels, hiring a sales force on the ground is not an alternative as it is both expensive and time-consuming. PickMyWork is a gig platform that gives businesses an on-demand sales force to sign customers at 1/20th the cost on a pay-per-task model, using upskilled unemployed youth. Clients provide a condensed training video to educate gig workers on the products and services to be sold.
1. Customers (Merchants) are not engaged on social media
2. Keeping an in-house sales team is costly
PickMyWork developed a gig platform that gives businesses an on-demand sales force that provides services such as merchant acquisition, sales, auditing, and more to come! PickMyWork has helped 90,000 small-medium businesses in India scale up to 10x faster with their cutting edge technology in customer acquisition, providing up to 31.6% of cost savings.
PickMyWork has a Total Addressable Market of US$661bn and Serviceable Addressable market of US$3.2bn. The gig economy is rising with the number of freelance/contract workers rising from 20% to 25% in the past 2-years and 1 in every 4 freelancers globally is from India.
PickMyWork's digital platform allows businesses to easily acquire workers and help youths to find, interview, train and manage their job all in one app:
1. Business Facing Side
2. Gig Working Facing Side
1. PickMyWork collects $4 for every task completed from businesses
2. $2 (50%) is passed on to the gig worker as payment
3. Development of technology to monetise gig worker data for insurance and loans for increased margins
4. Pilots underway to offer services for companies to advertise gig workers
PickMyWork is in 150 cities across India signing 15,000 customers for their clients every month. Their user base has 40% week-on-week growth.
PickMyWork's clients include:
Key Team Members
Fundraising Round & User Of Funds
PickMyWork is raising a Pre-series A priced round of US$1m with a term sheet and investment of US$500k secured from lead investor SOSV at a US$6m pre-money valuation. US$200k has been allocated to FundedHere.
1. Building Gig Worker Population (40%)
2. Technology & Digitalisation (30%)
Website - www.pickmywork.com