Introducing Casu
Q: Can you give us some insight into how your company started?
A: Our business is called Casu. The name is a play on the Australian slang “Cas”, meaning casual. The whole idea came about when my co-founder, Sam, who previously worked in carpentry, wanted to find casual work when he had time off between his corporate roles. He discovered a gap online; there wasn’t a straightforward platform to find flexible, casual work working for businesses that needed extra staff. Most platforms he found were akin to Air Tasker (which is Australia’s Task Rabbit). That’s when the light bulb went on, and we began discussing the potential of such a platform.
Why Antler?
Q: Why did you decide to apply to Antler?
A: I’ve always been inclined to startups, possibly rooted in my time at Morning Brew in New York. To kick off Casu, we began with basic market research, talking to potential customers to understand their needs. During this phase, a founder friend introduced us to Antler. After some research and chats with a few who had been through Antler – mostly overseas as I wasn’t acquainted with anyone from the Australian cohort – we decided to join them. The accelerator program played a pivotal role in our growth. Our association with Antler changed our trajectory, injecting speed and direction into our growth. The investment and support we received were invaluable, making our experience truly positive.
Antler’s Application Process
Q: How would you describe the application and initial steps with Antler?
A: The application process starts with an online form. Initially, I thought they were mainly assessing the potential of our business, so I detailed our idea extensively. However, in hindsight, they used this to assess me as a founder. How deeply you’ve explored your idea and any progress made could indicate your qualities as a founder.
After the online submission, I underwent two or three one-on-one interviews. While they did ask about the business, I now understand they were more focused on evaluating me, my experiences, and my approach as a founder.
Q: When you joined Antler, was your company already established?
A: Yes, we had set up a company, but it was in its nascent stages. Essentially, we had decided on the idea we wanted to pursue and had done some basic groundwork and research. Our situation was somewhat unique for Antler. Typically, Antler aims to connect founders who may have a budding idea or are still determining their business direction. They encourage participants not to fixate on a single concept too early.
In our case, we were already committed to our idea, which might have made us an atypical candidate for the accelerator. Antler’s approach generally involves matching potential founders, but we already had our partnership established with Sam, my partner and co-founder. We soon understood that, based on Antler’s methodology, Sam needed to get involved, as evaluations often considered co-founder dynamics. Their primary audience is probably individuals with a vague idea, looking for a co-founder, since they typically don’t invest in solo founders. Our business, when joining Antler, was more or less still in the ideation phase, even though we felt strongly about its potential.
Inside Antler’s Program
Q: What does Antler’s program look like?
A: Once accepted, they’re upfront about their investment terms. This is beneficial as it ensures no surprises later on. Before officially starting with Antler, they grant you access to your cohort and encourage interactions. This phase is tailored to each participant’s needs. In our case, we had considered finding a technical co-founder, but since we already had our foundational team, it wasn’t our primary focus. For others, this networking phase is crucial. Antler also provides materials to acquaint you with the upcoming program and its stages. The three months leading up to the investment committee are structured, with several milestones. They progressively share information about the program, ensuring you’re not overwhelmed. Essentially, once accepted, you’re introduced to your cohort and provided with foundational details about the accelerator journey.
Q: Does Antler provide mentors or any educational sessions during the program?
A: Yes, Antler offers various educational tools that participants can access throughout the program. This includes a comprehensive database and various portals with resources. The content covers diverse topics, from foundational concepts to more advanced material. Depending on an individual’s background and project requirements, they can tailor their learning path. Antler introduces resources at different stages, ensuring that participants are not overwhelmed. The depth of engagement with these materials is up to the individual.
Q: Did you experience any “aha moments” during your time at Antler?
A: One of the major takeaways from Antler was understanding the difference between having a great business idea and scaling it to a significant extent. Antler emphasized the need for ventures to be VC-backable, a term they frequently used. This context helped me transition from a business mindset – thinking about tactics and marketing – to a scalability mindset, which involved larger infrastructure and financing. Antler equipped us with the tools and mentorship to pursue this, but they also emphasized that it’s up to the individual to apply them. Their program acted as a launchpad, legitimizing our business and fostering numerous valuable conversations and insights.
Q: Would you mind sharing an example of this learning experience?
A: A defining moment for me came closer to our final pitch at Antler. It revolved around grasping our business’s financial model. This was pivotal as I, without a financial background, had to deeply understand the various parameters of our model, from unit sales to transaction metrics and cost assessments. Using the tools provided by Antler, I played with our financial model, which illuminated the scalability of our venture. This wasn’t just about potential revenues but understanding the work and strategies required to achieve those numbers.
Current Status of the Company
Q: Where does your company stand today?
A: As of November 20, 2023, our Casu app, launched in Brisbane, Australia, in May 2023, has over 650 workers and 60 business users on the platform. The past months have been a whirlwind of learning, adapting, and growing. Witnessing this traction and the positive impact on our target audience has been immensely gratifying. Currently, we’re both working full-time on Casu, which is exhilarating. Since launching our MVP app, we’ve managed to raise funds, enabling us to connect businesses and workers daily. Our primary focus is on individuals seeking casual work.
Understanding our target audience was crucial. Most of our recruits come from colleges and sports clubs, meaning many of them are young, perhaps still studying. They aren’t typically set up as contractors with their own businesses. Knowing this, we incorporated payroll and onboarding processes to better cater to them. This has meant we’ve forged a whole new legal path in the gig economy by facilitating true causal employment.
Q: Which are your main growth channels?
A: For the business users, our primary channel is direct sales. We rely on personal contacts, personalized outreach on Instagram and Facebook, and partnerships with larger organizations eager to offer our solution to their clients.
On the worker side (the other half of our marketplace), our most successful channels have been partnerships with relevant organizations, particularly colleges and rugby clubs. We intend to continue this strategy as we expand because it has yielded the most success. Students, in particular, are enthusiastic about working flexibly and on their own terms.
Final Advice
Q: Do you have any final tips for founders thinking of applying?
A: I would highly recommend it! Joining Antler was precisely what we needed then, and I’m incredibly grateful for the rapid learning experience it provided. Furthermore, after securing funding, we’ve had ongoing access to Antler’s resources, although we operate quite independently and haven’t fully utilized them. However, I should note that we were fortunate to have a two-person team (my partner Sam and I) when we joined. The experience would likely differ for solo founders who need to find a co-founder within the program’s timeline. But rest assured, it’s doable!