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Aiming to address the UK staffing shortage in social care, Outt provides a tech-based marketplace helping employers find social care professionals. With a ready to launch product - beta version has 1469 registered users - they are raising to ignite their 'go-to market' strategy in a >£6.2b market.

  • 105k vacancies in social care, estimated to rise to 490k by 2035
  • Aiming to reduce hiring time from weeks to hours - avoid compliance delays
  • Beta made an Av. revenue of £52k/month Apr-Sep '21 (EBITDA £198k - FY to Mar '21)
  • Experienced team, Beta tech launched, backed by InnovateUK funding

Idea

Founded in late 2020 in direct response to rising staff shortages in social care since Brexit and Covid, Outt is a tech-based social care jobs platform, providing ready to work care professionals for temp & perm vacancies.

According to IBIS World the staff agency market is highly fragmented. We aim to remove traditional agencies by attracting candidates with a tech-led, flexible solution and operating a competitive fee-based cost model for employers.

Outt offers candidates work flexibility, plus a 24-hour support service. We are campaigners for fair pay and key worker rights, which struck a chord, attracting over 700 registrations from excited care professionals during test campaigns.

With an estimated 490k additional care workers required by 2035, care professionals are in short supply, demanding work flexibility. Employers are searching for new staff solutions which Outt aims to provide.

Achievements:

- £253k in revenue, £141k net profit FY Mar. '21

- Awarded InnovateUK Government funding in 2020

- Currently participating in "The Growth Accelerator" Network Programme

- Strong media presence with articles published in iNews on fair pay and tax cuts for social care professionals

- Software is ready to launch to the wider market

This investment will allow us to launch, we intend to grow the sales team and kickstart our 'go to market' strategy.

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Outt has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

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