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FGMNT (Figment Technology Pty Ltd)

“Empowering care workers and engaging the businesses that need them”

Developing world class Augmented Reality & Virtual Reality apps and tools for global clients.

Business Highlights

FGMNT (Figment Technology) is a software development and production company, raising A$1.5M to fund and commercialise their new revolutionary training product, Outpace.

Outpace is a scalable, immersive training and accreditation ecosystem for the global aged care industry.

Outpace exists because of the distinct lack of viable solutions to the myriad systemic problems persistent in the aged care industry. Care workers are consistently subjected to poor working conditions, low pay and inadequate training. These people are responsible for caring for our loved ones as they age, and high-quality foundational training, delivered in a globally scalable way is a key component to solving the trickle down pain points being experienced across the entire industry.

Opportunity in the aged care workforce:

  • Ageing population – requiring millions more carers globally
  • Existing carers churning at unprecedented rates due to retirement and low job satisfaction.
  • 65% of the workforce are ‘voluntary’ unpaid and untrained.
  • Untrained, creates additional risks to both the carer, recipient and business.
  • Initial Total Addressable Market; Australia, UK, and USA. 2,930,000 paid care workers at $11 per month = $322,300,000 ARR
  • Outpace has created a solution that is both globally accessible and effective

Outpace The Product

  • Immersive learning
    On demand video based training (an entirely new paradigm in Aged Care training). Interactive. Multilingual. Accessible anywhere on Mobile / Desktop / VR.
  • Accreditation App
    Verifiable, gamified accreditation at your fingertips. Training results automatically populate your profile and are instantly shareable with employers.
  • Team Management & Analytics
    Train entire teams and manage analytics from the powerful dashboard

Transaction Overview

Figment Technology is raising A$1.5M at A$0.085 per share at a pre-money valuation of ~A$5M

Use of funds:

  • Build a scalable commercialisation pipeline through our early adopter program and beyond;
  • Recruit additional team members & specialists in the aged care sector;
  • Extend the run of a pilot program through to commercialisation within industry businesses;
  • Continue testing and refining the product to suit carer needs;
  • Finalise market research activity;
  • Continue software development to provide end-user tools and analytics.

Outpace Investor Presentation

Company Overview

FGMNT (Figment Technology) is a ‘new tech’ Software Development and Content Creation Company, specialising in developing world class, immersive and virtual reality solutions to solve important global problems.

FGMNT‘s team comprises highly skilled software engineers, designers, mobile app and virtual reality specialists and incredibly dedicated content creators and team managers. We’re a diverse team of men and women, representing 7 different countries in our Melbourne office.

FGMNT is an Australian based company with global ambitions. Operating out of its South Bank offices, FGMNT aims to be an impactful, diverse and earth friendly company, while returning exceptional growth performance for its investors.

Carer Training Platform Solving the Aged Care Crisis

E-Learning Provider

Solving Proven Pain Points Within the Industry

Upskill
Grow
Outpace

Videos

Team

Nicholas Owen

Chairman and Non-Executive Director

Nick Wright

Executive Director and Chief Executive Officer

Robyn Harrison

Company Secretary

Jamie Daou

Chief Commercial Officer

Dr Travis Cox

Chief Technology Officer

Navjeet Sandhu

Lead Back-End Developer

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