CR8 - Flamingo – Personalised customer experience technology using Artificial Intelligence Technology “Rosie”
MC - 23.8mil, Cash - 4.2mil, EV – 19.6mil
Flamingo is a revolutionary disruptive technology to change the way insurance and financial services are sold.
Been suspended for 6 months and I’m expecting there to be plenty of news flow in the coming weeks and months, this technology is cutting edge and the Insurance sector is a massive sector!
This is all just a background of what the tech is and what we know, however what we know is months behind, I look forward to an update from management.
So why Flamingo and what is it?
Online Selling Reimagined
Customers often have difficulty with the complexity of financial products. This makes it difficult to sell to these customers online, causing low conversion rates.
Flamingo guides customers from page view to purchase (on both mobile and desktop). This reduces the overwhelm and makes financial products easier to buy, increasing conversion rates.
With each completed interaction, Flamingo intelligently learns more about how your customers and employees interact. This allows the process to be automated, meaning your employees are required less often, or not at all.
The Process
1. Invite customers to a journey to buy your product
Customers are invited to participate in a journey through a simple link.
The journey is a guided experience which allows the customer to co-design, within your parameters, the product and relationship to suit their individual needs.
This experience can be assisted by your employee or fully automated (or anywhere in between).
2. Quote
The customer joins a journey with one of your employees (or one of our automated assistants).
Flamingo uses human-centered design principles to concierge the customer through their options to co-design the product to meet individual needs.
Customers can live chat with your employee as an integrated part of the experience.
3. Purchase
After completing the quotation together, the employee will guide the customer to make a payment.
After payment is made the employee acknowledges and congratulates the customer.
Our clients call this the fireworks moment!
4. Automation
With each completed journey, Flamingo intelligently learns more about how your customers and employees interact.
Every question asked and answered, every keystroke and chat message is analyzed by our advanced data-mining algorithms.
This allows Flamingo to automate your journey, so employees are required less or even not at all.
5. Analytics
Flamingo provides dashboards and real-time analytics related to individual and aggregated customer experiences.
- Descriptive statistics
- Product and experience configurations
- Customer behavior insights
- New market discovery
- Performance and effectiveness of interactions
- Customer insights & engagement scores e.g., NPS
- Flamingo to date what we know (prior to listing)
Hoping to sign up a larger company than Nationwide on the East Coast of the U.S. and also an arrangement with one of the world’s largest CRM vendors. Flamingo is also currently in negotiation with around 20 large companies (Many Fortune 500) and a large secret vendor so this is certainly exciting. They have an extensive news flow and aggressive product development roadmap over the next 12-18 months. They are looking for a COO and also two data scientists in the next 6 months.
North America is a big focus and Catriona said she knows where the money is and that is her focus, however lots of Australian companies also want a piece of Flamingo as does a company in Hong Kong (couldn’t quite hear properly).
http://www.australianbankingfinance.com/banking/flamingo-looks-to-asian-expansion-/
Nationwide have paid for a significant amount of development so far and Flamingo have spent the last month doing free trials that will set up revenue. Nationwide is a US$40 billion dollar revenue company in the Fortune 500. In May 2016, Flamingo secured Nationwide Insurance as a foundation client. The Flamingo platform improved customer renewal/retention by 17%. It also increased the net promoter score by 30 points.
Nationwide wanted the full package - as said by Catriona Wallace listen to sound bite - (34 mins)
Nationwide chose Flamingo over other Customer Experience Management companies due to:
1.Customer Acquisition Capability
2.Easy Integration
3.Inexpensive move to AI
4.Strong Data Privacy Capability
5.Automated Customer Interactions
6.Data Science & Algorithms
Flamingo has a solid client base already with these clients and there is a strong sales pipeline in place:
1.Nationwide
2.Quay Credit Union
3.The Daily Gazette
4.Prime
Initial focus is the U.S. insurance market which is worth US$17.7 billion, has 2,500 businesses and 176 million customers. Digital sales in financial services will increase 125% over the next 5 years.
Dollars and Cents
Cash burn is $250,000 per month (good IMO).
$700,000 in revenue so far, but I expect this to grow rapidly and probably has already that we don’t know! This is only from Nationwide.
Cash
$3m raised heavily oversub and gained interest from investors before the raise was mentioned. Raise also at 4c which is above 52 week high!
Media coverage
http://www.smh.com.au/technology/in...-into-positions-of-power-20161025-gsaopj.html
http://thetechportal.com/2016/10/13...-flamingo-heads-towards-au23m-listing-on-asx/
http://www.zdnet.com/article/sydney-ai-focused-fintech-startup-readies-for-au23m-asx-listing/
http://www.copyright link/leadershi...ling-robot-to-24m-asx-listing-20160913-grfjis
http://www.copyright link/leadershi...-entrepreneur-catriona-wallace-20140725-jybuo
Plus many more!
As below - we are now upto 10 proposals and these are with Fortune 500 companies!
Paid Trials and Case studies to show evidence that the SaaS works 
So next this the performance milestones and IMO ones that are meaningful and if successful will provide MASSIVE value to shareholders
The team, one of the best I have seen!
Dr Catriona Wallace - CEO
Catriona is an Entrepreneur.
Having founded and led a number of companies in the Customer Experience sector - Fifth Quadrant, a Customer Experience Strategy, Design, Research & Analyst firm; ACA Research, a market research firm and The Ventura, a women entrepreneur's co-working space - Catriona's full focus is now on leading Flamingo Customer Experience Inc, an Intelligent Guided Selling SaaS company (www.flamingo.io), based in NYC, LA and Sydney.
Catriona is well recognized globally having won a prestigious Pearcey Foundation Tech Entrepreneur Award, chosen as Top 4 Best Respected People globally in Customer Experience, was inducted into the Australian Business Women's Hall of Fame, selected as one of the top Australian female entrepreneurs by Springboard Enterprises; Ernst & Young Entrepreneur of the Year and Telstra Business Awards. Catriona is on the Board of ADMA.
Catriona has a Phd in Organisational Behaviour: Leadership, is a well published author and international public speaker on the topics of the Future of Customer Experience, Innovation, Women in Leadership and Co-creation.
Catriona is also the founder of Philanthropic funds - Indigo Express Fund which funds Indigenous Literacy; Kids in Philanthropy which mobilises children to have a broader social consciousness and fund children in need; and Out & Up an employment Program for Women Prisoners,Refugees and Asylum Seekers.
Source : Linked In
Cathie Reid - ChairWOMAN
Cathie is the Co-Founder of Australia’s Epic Group, including Epic Pharmacy and Epic Good Foundation, and Digital Advisor to the Icon Group Board.
Epic Pharmacy is one of Australia’s largest pharmacy service providers to the hospital, oncology and aged care sector, participating in the healthcare of more than 100,000 Australians each year.
Icon Group, which includes Icon Cancer Care, Radiation Oncology Centres (ROC) and Slade Health, is Australia’s fastest growing provider of integrated cancer care services. The Group has recently expanded its footprint beyond Australia, with the acquisition of Icon SOC in Singapore, a radiation oncology partnership in China, and agreement to build and integrated cancer centre in New Zealand.
Cathie brings a passion for innovation to her role as Digital Advisor to the Icon Group Board. As a significant contributor to the Group’s evolution and depth of business, Cathie intimately understands the operational challenges and opportunities.
A tech geek at heart, Cathie has always believed in the role digital solutions play in exceptional healthcare delivery. It is this commitment that saw her found Epic Digital, a business focused on technology solutions that connect healthcare professionals with their patients, improving access to information, facilitating work flows and empowering patients to actively manage their health. Now part of Icon Group, Epic Digital is bridging the gap between the paper-based industry we know today and the digital future of tomorrow.
Cathie currently sits as on the Board of Assured Digital Group as a Director, the United Kingdom’s leading provider of digital infrastructure and information governance for sovereign data assets, is the Chair of Flamingo Customer Experience Inc., an innovative software-as-a-service (SaaS) company developing customer experience automation platforms designed for selling complex financial products online, and sits on the Board of the Brisbane Lions Australian Rules Football Club. She has been recipient of several industry awards and honours including: induction into the Australian Businesswomen’s Hall of Fame in 2015, named one of the Top 100 Women of Influence by the Australian Financial Review in 2013, winner of the National Telstra Business Women’s Award in 2011, and recognised by Monash University with a Distinguished Alumni Award for Professional Achievement in 2012.
Cathie’s fascination in breaking new ground saw her invited to be part of the original Google Glass Explorer program and is one of Virgin Galactic’s future astronauts. She eagerly awaits the opportunity to travel into space and see the world from a very different perspective.
Cathie regularly speaks on a broad range of topics, including digital healthcare, wearable technology, entrepreneurial lessons from the Epic business story and the role of women in leadership.
Source : Cathiereid.com
Faldi Ismail – Director
Mr Ismail is an experienced corporate advisor who specialises in the restructure and recapitalisation of a wide range of ASX-listed companies.
He has many years of investment banking experience and has advised on numerous cross border transactions including capital raisings, structuring of acquisitions and joint ventures overseas.
Mr Ismail is also the founder and operator of Otsana Capital, and is currently a director of a number or ASX listed companies.
Source : Otsana.com
Otsana’s core values and why Flamingo and Otsana became such a good fit!
Otsana’s Core Values
Our "Core Values" guide our work to ensure that everyone we touch benefits greatly and grows to become the person they aspire to be.
Our core values guide Otsana team members in meeting and achieving their goals and objectives.
Generosity
We generously share the value we create. We value generosity, rewarding those involved, giving a lot back, spreading the wealth and we are not driven by greed.
Creating Value
Consistently delivering massive value is of the utmost importance. We always deliver recapitalisation services of exceptional quality that add value to all involved.
Trust
We believe trust is paramount. Our employees, customers and investors depend on, rely on, and must be sure that we will meet our commitments. Each of us is truly responsible for our actions and outcomes and owns everything that takes place in our work and our life. We are accountable for our results.
Humanitarian
We value a balanced approach to life, remembering that spiritual, social, family and physical aspects are as important as finance and the business. We strive to look after the needs of those involved with us like family.
Self Growth
We recognize people are important. Helping fellow team members and clients grow and develop is a priority.
Independence
We encourage people to stand on their own feet, value relationships and strive to build a solid network of entrepreneurial associates.
Transparent
We are transparent and communicate openly and honestly without taking umbrage.
JOE WALLER
Chief Technology Officer
Former Technology Strategist and Chief-of-Staff of Betfair, the worlds biggest sports trading platform.
Played a key role in growing the company from a UK technology startup into the world's largest internet betting exchange.
Ran the product and platform teams that built and scaled the exchange to annual revenues of over $700 million, matching over 30,000 trades a minute. (more than all of Europe's stock exchanges combined).
RACHEL WHITE
Chief Financial Officer
Well known as a leading CFO within the technology sector and has been instrumental in the success of innovative technology groups along with being a mentor to several early stage ventures.
Over 20 years commercial finance and accounting experience with a strong focus on the technology sector.
Recognized public speaker on topics of Entrepreneurialism, Start Up Finance, Employee Engagement and Capital Raising.
DR JACK ELLIOTT
Chief Data Scientist
Internationally recognized and published expert in large-scale, natural language processing and linguistics.
Software Engineeringing career spanning over 15 years and three continents across the banking & financial sectors.
Leveraging expertise to drive the development and deployment of text processing algorithms on a massive scale, providing intelligent commercial insight.
Can't wait for relist
Cheers
GT
(20min delay)