Pick My Work (Coming Soon)
Revolutionizing Customer Acquisition in India
Official Website
Reports and Documents
₹ 2Cr.
Total Round Size
CCPS
Mode
₹ 15 Lakh
Minimum Ticket Size
₹ 50Lakh. - ₹ 1Cr.
Open for SAN Angels
Company Overview
PickMyWork is a groundbreaking platform addressing the low penetration of financial services in India, particularly in Tier 2 and Tier 3 cities. The platform leverages a vast network of agents to bridge the trust gap and facilitate personalized, face-to-face interactions for customer acquisition.
About the Opportunity
Challenges Addressed
- Trust Deficit: Overcoming the low-trust perception in the Indian market.
- Digital Skepticism: Tackling skepticism towards online content and advertisements.
- Financial Literacy: Addressing the lack of financial literacy affecting adoption.
PickMyWork's Solution
PickMyWork establishes India’s largest outsourced customer acquisition network, offering advantages for both businesses and agents.
Advantages for Businesses
- Cost Efficiency: Variable cost model, eliminating fixed costs associated with dedicated sales teams.
- Plug and Play Convenience: Seamless integration with no need for extensive infrastructure setup.
- Rapid Scalability: Utilizing a robust network of 12,000 agents for swift customer acquisition.
Advantages for Agents
- Limitless Earnings Potential: Agents can diversify income streams through the sale of over 50 products.
- Weekly Payments: Pioneering weekly payments for agents, providing financial flexibility.
- Pressure-Free Environment: Operating in a stress-free environment with no target pressure.
Agent Profile and Sourcing
- Age Group: Predominantly 17-35, focusing on younger individuals.
- Employment Status: 90% unemployed; PickMyWork serves as their first job experience.
- Agent Sourcing: 40% through referrals, 20% from job portals, 40% through influencer marketing.
Technology & Mobile App
- Integrated Network: Real-time API linkages for lead verification and feedback.
- Machine Learning: Matching agent profiles with projects based on pincode and relevant factors.
- User-Friendly App: Agents use a mobile app for training, lead submission, and payment.
Data-Driven Decision-Making
- Four Years of Sales Data: Informed decision-making based on accumulated sales data.
- Agent Profile Matching: Machine learning matches agent profiles with suitable projects.
Founders
- Vidyarthi Baddireddy (CEO): MBA from FMS Delhi.
- Previous experience at General Electric and Deloitte S&O.
- Passion for reading non-fiction and running marathons.
- Kajal Malik (CBO): MBA from FMS Delhi.
- Previous experience at Samsung R&D and Mahindra Holidays.
- Passion for visible societal change, reading novels, and travel photography.
Revenue Model
- Pay-per-Customer Acquired: Brands compensate PickMyWork when agents successfully acquire customers.
- Take Rate: PickMyWork retains a variable take rate (20% to 50%), passing the remaining amount as agent commissions.
Revenue Traction
- FY 2022: Revenue INR 2.27Cr working with 12 brands.
- FY 2023: Revenue INR 4.15Cr working with 30 brands, indicating significant growth.
Competitive Landscape
- Diverse Product Portfolio: Over 50 products provide a competitive edge.
- Community-Centric Approach: Localized sales enhance product relevance.
- Financial Empowerment: Limitless earning potential and adaptability to different industries.
Previous Rounds Details
- Total Round Size: INR 2Cr.
- Open for SAN Angels: INR 50Lakhs to 1Cr.
- Mode (CCPS / Equity): CCPS.
- Share Price – INR 14483.
- Pre-Money Valuation – INR 45Cr.
- Minimum Ticket Size – INR 10Lakhs.
- Commitments – INR 1Cr (INR 75Lakhs transferred by Gray Mattes Capital and HNIs).