The NZSA August Event: Angel at my Table featured some emerging and re-emerging companies pitching to three dragons, including Nick Hadley of Riscoveri International Ltd, a worker safety and risk mitigation SaaS with patents and agency sales models in place
3. Background &
History
Effectively a 21-year old start-up!
Original business had its roots in Risk consultancy, with
‘fat client’ software developed in 1993
Top-heavy consultancy structure
Nightmare maintaining and developing the software
Riscoveri now rises from these ashes with energy,
enthusiasm and a huge IP asset. Key missing
ingredient is finance
Riscoveri International Limited
6. Governance, Risk & Compliance (“GRC”)
Health & Safety
Accident
Register
Hazard
Register
Compliance
Manage-
ment
Staff & Staff
Compet-
encies
Contractor
Manage-
ment
Site-
Specific
Safety
Plans
Training
Function/
Position
Register,
Document
Library,
Induction
Register
Property
Owner, Site
& Floor
Registers,
Maintenance
Requests,
Protective
Features,
Survey
Details
Environ-
mental
Legal
Requirements
Register,
Environmental
Objectives &
Complaints
register,
Environmental
Incident
Manager
Audit
Systems
Register,
Register of
Certified &
Non-
certified
Equipment
Risk
Analysis
Risk
Identific-
ation, Risk
Assessment
Calculations
Can be sold separately as “Safetyware” - a stand-alone Health and Safety System Modules can be individually activated as needed
Riscoveri International Limited
7. Where the
products sit in
the market
Functionality
Cost $
Point solutions
for H & S
Document-based
Risk Management systems
Enterprise risk
management from
global providers
Riscoveri International Limited
8. What’s
included?
In effect, two opportunities; both SME and Corporate
products
NZ Patent on the software
Substantial pipeline of short and long-term prospects
Market-tested product; not dreamt up
Speed to market
Designed for global sales (we already have a UK reseller
lined up)
Riscoveri International Limited
9. Headline
financial
forecast
Riscoveri International Limited
x $1000
Yr 1
(Oct 14-Sep15)
Yr 2
(Oct 15-Sep16)
Yr 3
(Oct 16-Sep17)
Gross Safetyware sales
Less reseller commission
Net Safetyware sales
$572
-$257
$315
$4,524
-$2,036
$2,488
$10,454
-$3,659
$6,795
Riscoveri sales $231 $2,419 $5,706
Total net sales $546 $4,907 $12,501
Expenses $1,289 $1,737 $2,573
Profit ($743) $3,170 $9,928
10. What we’re
looking for
Proactive investor(s) who have a total of $700k- $1.2m
to invest. Could be in 2 tranches ($700+$500)
Even better, someone who wants be part of our story.
Riscoveri International Limited
11. Exit strategy
Options for exit in 3-4 years:
Trade sale to high-end GRC provider (eg
Oracle / SAS /Thompson Reuters) who
wants a mass market product
Sale to consulting company who want their
own product
IPO?
Riscoveri International Limited
Notas del editor
About me:
Late 50’s
Working life in technology: both sales and technical
3rd startup:
Software company: 1988 – 2004
Web technology company: 2008-2013
Riscoveri: Betting my farm! Been there for 4 months to breath life into the organisation.
The word “riscoveri” derives from a Dutch phrase meaning “risk-free”
8 shareholders
Founder of the company is a Health & Safety / Risk Management guru
Original software was built on MS Access
Had some major clients such as: Transalta, NRMA, Shell in 17 countries, numerous power companies, primary exporters.
Tender for large organisation (800 employees) in multiple industries. Estimated value could be $5k-$10k per month
Tender for property management company. Value $800-$2200 per month
Several corporates and public-sector bodies.
Commission paid on Safetyware sales is between 35% and 45%
1st tranche $500,000
Software dev $180,000, Marketing $210,000, Misc $110,000, Retire debt $200,000 TOTAL = $700,000
2nd tranche $500000 after 7 months allows us to open small office and take on client care staff + support staff = Takes us to $3m turnover within 18 months of launch
Talking to a Multi-national consultant engineering company who have already purchased project risk software company. Interested in business & environmental risk.