Cribber - Better Communication, Safer Worksites

Okay, great, awesome. So I'm Mike Watson. I'm the CEO and co-founder of Krieba. I spent the last decade working on construction sites around Australia and the Middle East. And just like Yammer was built for the corporate work environment and Slack was built for developers, I've built Krieba for the workforce and high-risk industries and the problems that they face. So in a high-risk industry, communicating information with the workforce is critical for keeping them safe and alive. And yet it's a complex, high-risk work environment, so there's so much noise around the information communication— communicated with the workforce. And the final delivery of the information to the workforce is still very manual and largely ineffective. Our solution is providing the right information targeted to the right individuals at the right time across multiple platforms and mediums with automated compliance reports, making the whole process efficient and effective. We have a web app where managers log in. They can manage their teams. They can target bulletins to groups or contractors or visitors or geo-targeted regions, like, for instance, if it's a geomobi. And then they can track the engagement with every message that goes through the platform and improve their communication and receive automated compliance reports. The workforce can use our mobile app to receive and engage with that message. They can also do that through SMS and email. And we're going to add communication channels continuously to always be cutting edge and other mediums. And we see voice and natural language processing as the future of workforce communication. So we'll be implementing that in the near term. We've had some great traction over the past 6 months with big names in oil and gas and construction. We have a client in the UK that's just signed up for a recurring annual contract. We've got some really exciting trials and pilots with big names in construction and oil and gas. We're at $5 per user per month. Our unit economics are looking good, and the market is a largely untouched market by by technology. That's the high-risk industries of construction, mining, and oil and gas. So global market, if we look at English-speaking countries only, it's about $2 billion. And if we expand into Asia and Europe, it's about $20 billion. Then once our platform evolves into more than just communication, more of an employee engagement tool, the market expands further. Like I mentioned, largely untapped. Our biggest competition is still really the status quo, manual communication methods. Some— been some investment in construction technology in the past couple of years that we've seen. Companies like SignOnSite doing great work around site attendance. And we do get confused with companies like Slack for communication, which is really unsuitable for a high-risk work environment. But we don't see them as competition, more of as a future integration partner. Our go-to-market strategy is inside and enterprise sales. This is our sales funnel at present, and it does represent over 150,000 potential seats, or about $10 million in recurring annual revenue. Our team has a wealth of experience in construction, mining, oil and gas, risk, venture capital, software development, and startups. And we are raising money, so if you're an angel, we'd love to talk to you about our company. With the funds that we raise, we want to do a lot a lot with our product around voice technology and artificial intelligence coaching around communication, and of course integrations, and push out sales as well to grow our user base and to grow our revenue. So if you're excited about workforce communication, do reach out to me. My details are there below. Thanks. Great.

Awesome, Mike. All right, why don't you throw your face back up on the screen there? And yeah, just as an example, I mean, we use Slack here at the Founder Institute, but we are very far from a high-risk business. You know, our use case, we send a lot of stupid memes and GIFs and things like that to each other. So, um, no, um, I think one of the— and just to comment on the pitch itself too, For someone in the space that sees a lot of pitches, that sees a lot of deals from startups and, you know, from the investor side as well, the unit economics in the presentation are excellent, right? And for those, if you are watching and if you are an entrepreneur or even if you're an investor, maybe starting, just getting started on this thing, you know, go back on the video and just check out his slide on the unit economics where he breaks down literally all of the very you know, the finite parts of the business, not only just the customer acquisition costs and the lifetime value, but also the sales cycle, right? Because especially when you're selling to some bigger businesses, that's one of the biggest risks that you can have. And it looks like you've gotten the sales cycle to a pretty decent state.

Yeah.

Yeah. So that was my first question too, is, you know, how— is there any trick to that? Or how do you think you've been able to get that sales cycle to a good to a good size?

It's evolved, I guess. We've managed to get our message a lot clearer, know who we need to speak to within the organizations, and know, like, in our pipeline, we do have some of the big elephant companies in there as well, but also targeting, you know, the deer companies where the sales cycle is shorter so we can actually get it moving faster. And the industry is funny. It's a bit— it's very risk-averse. So, once you get a couple of companies on board, the others tend to follow, which helps as well. So, it means everything kind of starts speeding up. And also, the nature of our platform is that when each project you will always— or worksite, you will always have more than one company involved. So, one of our first projects was with Woodside, and they had some people from Subsea 7 on the project. And then, from that, just naturally, it spun out to another project with sub C7, which is a complete, completely separate account. Um, so that, that helps speed up that whole, um, customer acquisition, um, reduce the cost and speed up. Right.

And as you said, you know, I think you phrased it really well, is that in a lot of these cases, these sort of old school— I don't know, old school businesses, but just a lot of the ones that still rely on paper, right? Uh, your biggest competitor is the status quo. And in those types of businesses specifically, you know, working kind of bottom-up, gaining trust and gaining other people is the fastest way to really change the behavior from a lot of people that are just super risk-averse, right? So I think it's really, really smart strategy. And I've definitely personally seen a lot of companies try to pursue these types of businesses to try to go top-down and, you know, invest a lot in you know, really expensive salespeople and to flush a lot of that money down the toilet. So I think the approach you guys are taking is super smart. So we got some questions here from the audience. So let's see. So Richard just had a less of a question, more of a suggestion, but Tickforce, a company in Perth dealing with compliance mining Richard suggests that you check them out. RBH asked, did you support only text chat or can you support sort of like 3D work instructions? You know, I guess that would be much more than, you know, is it just a text-based client or is it supporting other things that, you know, kind of will fit into other risk-based realms, right? I guess is how I would interpret that question.

I think I can answer that. So, at the moment, the communication that goes out is a text message with attachments that are images. You can embed videos in there. But one of the advantages we see of using us as the platform for communication with the frontline workforce— so, we're not talking about engineers and just them, it's everyone on site. but being able to push something out and then like deep link through to the right application. So we do see an integration, and we've already met with SafetyCulture to integrate with iAuditor, which is an excellent checklist application used around the world, so that you can send out the— we can send out the information associated with some incident that's happened on site with some piece of equipment. With the information about, you know, how it failed or what have you, and then link directly through to start the inspection of that person's piece of equipment. So all the context around what's happened, why it's really important that they go and inspect that piece, and then also start the inspection with the right form asking the right questions. Um, so, and that's just one example, but it can go, it can go further. You could take that to any kind of application, but if you think about it in the same type of the way that Slack works with all their integrations. That's really how it works.

Right, get people into a platform that solves, you know, some of their most, you know, day-to-day needs, and then that can open up opportunities to grow the platform in the future.

Right, right.

So let's see, I saw that Richard also asked, is this just a monitoring, or is it for for filtering as well? Does that make sense as a question?

I'm not sure. I'm not sure.

Okay.

So I guess I have one way of answering that. We are tracking all the information around engagement with messages. So then as a manager, you can go back and review how each communication was received by the workforce. Course, especially around, especially around tone, what was the subject, how much engagement, what was the feedback, were people pleased, engaged, reading it for a long time. All that type of information trended over time helps you engage. We're also planning to really build a data model around that to coach people that are coming to our platform about the when they're not using the right type of application or in best practices. Not sure if that answered the question.

No, no, it does. I thought maybe it was some industry jargon, to be honest. But I have a final question here too. And if anyone does have any final questions for Mike, please throw them in there. But just, you mentioned on the funding, that you guys are looking for? You know, obviously you've done a bunch of trials with some large companies. I saw, you know, Maersk was on there and some other big ones that I recognize. And, you know, you're getting the unit economics down to a pretty good state just from pure business perspective. What are some of the first things that you guys will look into investing as a business, you know, with some injection of funding?

We have a lot of product work to do that we think will unlock a lot of growth for us internally with our current customers that they're asking for a lot of things that they're already aligned with what we're doing. So a lot of it will be product. And then just getting out there and really going for global growth. Especially in countries that have similar occupational health and safety standards such as Australia, New Zealand, the UK, Canada, and the US. That's really our focus for the next year.

Yeah.

And we're— sorry, sorry, integration is going to be a big thing as well, which will help our product be really sticky once we get in with an organization. They start to integrate their, their system, their ERP systems with our systems to push out notifications automatically for certain events, and really relying on us to do the tracking and compliance piece, the last mile, like, like parcel, but with a last mile digital, digital delivery of information to, to a workforce.