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Venture News | clevergig continues to grow
One of WeAreBrain’s startup partner ventures, clevergig, has seen phenomenal success in 2018 /2019 and we’d like to share a bit of what has made this growth possible.
clevergig delivers a powerful and innovative SaaS Workforce Management (WFM) tool which helps temp agencies to quickly match workers with open shifts with their clients, across several locations. Almost all WFM tools help companies to schedule their own workers at one location (e.g. in Retail, Hospitality or Factories). However, clevergig’s Saas WFM tool focuses on the triangle of workers, clients, and the agencies in between. Most of clevergig’s agencies provide short term staff for the Home Care, Hospitality, Security, Events, and Traffic Services industries.
Following the quintessential startup trajectory, clevergig’s first financial year was focused on high risk/reward and establishing firm ground to develop the business upon. However, 2018/2019 saw rapid growth for the business which, although was forecasted, still surprised. CEO and Founder of clevergig, Michel Pilet, is very pleased with the success of clevergig since its genesis in 2017. “We tripled our Annual Recurring Revenues in 2018, and will at least double them again this year without any new funding. We are currently cash flow positive so we can now fund our own growth” says Pilet. “But what is more important for us is the benefit our service provides our clients. In July 2019, clevergig helped over 70 agencies schedule over 6,000 workers for a total of 140,000 hours. We are very pleased with these numbers and we hope to improve them in the coming months”.
Harnessing the potential for further growth
Although clevergig is currently cash flow positive, we really want to continue to develop at a faster rate. This is primarily due to the fact that there is massive opportunity for companies around the world to benefit from clevergig’s Saas WFM tool. Speed is important in this instance in order to successfully implement a proverbial land grab of the market to bolster clevergig’s position as leaders and innovators in the industry.
Additionally, clevergig services a particular segment of entrepreneurs who are often underserved in the industry due to them operating within a niche of WFM software for temp and/or recruitment agencies. Due to this these entrepreneurs often either don’t get noticed, or they are forced to work with suboptimal alternatives, such as Excel and WhatsApp (or other regular workforce management tools) aimed at scheduling staff at one location.
“As more and more people use clevergig, we are seeing interesting network effects. Freelancers often work for multiple agencies, who in turn sometimes work together with other agencies. And clients of agencies often hire several agencies to help out with staffing needs. So there is a massive network already there, and we are tapping into that opportunity for growth. More workers are referring our app to other workers, and other agencies they work for. Or they start their own agencies.
Roughly over 40% of our leads now come in that way and we expect to grow that number over time. This all adds to our defensibility over time: the more connected our software is across agencies, their clients and workers, the less likely they are to switch to a competitive tool” says Pilet.
The company plans to invest future funding back into the business, with a 50% injection into their product team, and the other 50% into growth roles, such as marketing, sales development, and customer success. clevergig’s next focus is to accelerate growth in the Netherlands by expanding distribution channels through integrations and partnerships, and internationalise the business, most likely first to a bigger European market.
WeAreBrain is very proud to see the success clevergig has achieved in just 3 years. We couldn’t be happier with the progress made thus far, and the plans for growth and expansion in the future will be exciting to witness. We can’t wait to see what the next 3 years have in store. Onwards and upwards, Michel and the rest of the clevergig team!
Mario Grunitz
Working Machines
An executive’s guide to AI and Intelligent Automation. Working Machines takes a look at how the renewed vigour for the development of Artificial Intelligence and Intelligent Automation technology has begun to change how businesses operate.
