Othership

Summary: Othership is a membership for people who want to work the other way. Members access a network of flexible workspaces, weekly events, member perks and an online community of coworkers from £30 a year. 

About:

Founders & Team

• Benjamin Carew – CEO, CMO and CTO “Engineer for 7+ years, Management Consultant in Digital for 3 years, BP Tech Lead for 7 Months”
• Arnaud Mardegan – CFO and COO “Project Management Consultant and Innovation Consultant for 4 years”
• Built team of 10 people including freelancer support: 6 nationalities, 4 women, fully remote

Opportunity:

• Market size: Global £666B+, UK £5B+

Pain points:

• Employer – Providing the workforce with a hybrid office & remote solution, in an affordable way whilst fostering connectivity.
• Workers – Lack of affordable workspace, painful commutes, distractions at home, and loneliness.
• Hospitality & real estate – Under-utilised space.

Solution:

• The ability for a person or team to quickly book a free or unique workspace across our network of partner spaces, seeing where friends, colleagues and other members are working from that youcan easily message and connect with.

Traction to-dote:

• Launched Feb 2019
• UK-wide network, active community, working product and service. 650+ paying members, 1450 historical free members
• £10k Monthly Revenue
• CAC – £25 to £50 (Lowest measured £17.5) LTV: £610 (Measured)

Competition:

• USP: Membership first (not another booking platform!) – Most flexible (Pay as you go & Free workspaces)
• Fundraising:
• Raising £2.SM EIS eligible
• Use of funds: 66% Growth/Marketing/Sales, 10% Product and Technology, 24% Operations, Legal & Other