Monthly Investor Update [March]
Hello from Sapient! In Q1'19 we raised more than $1.5M in capital (and growing), tripled our sales pipeline to 120,000 buildings worth $2.4B ARR, and began planning deployments with some of the largest companies in the world.
- Raised $1.5M in capital, expected to reach $2M by the end of April, including several institutional investors
- Launched several critical R&D projects to begin development of the next version of Sapient Enterprise
We’re currently at over $1.5M in total proceeds for this round, with investments from several institutional partners including Engage Ventures, Plug and Play, Tech Square Ventures, and Urban Us.
We kicked off work with Cinch, a Philadelphia-based UI/UX design firm to build the next version of our application. After completing user-flows and storyboarding last week, wireframing should finish up next week. By the end of April, we expect to have designs for all new views, functionality, and features to be implemented over the course of the summer and into early fall.
The CIC deployment will be our first test of the new leaf node mesh WiFi network architecture for connecting outlets to the customer's network. We expect this to be an effective interim solution while we create a LoRaWAN solution for the future.
We're nearing the completion of the backend requirements for implementing our machine learning algorithms into the application.
We have developed a rapid-provisioning application that reduces the on-boarding of outlets from a previous 5 mins/outlet to about 3 seconds per outlet. This allows us to on-board outlets before performing the installation, reducing installation time drastically. We're still performing installations ourselves in order to learn as much as possible from the process and ensure a successful deployment for the customer, but over the next several months, we'll be building and testing a mobile application that will allow customers to easily install the system themselves.
Ways you can help
We're hiring as quickly as possible. Please share with anyone you think might be a fit. Our online application can be found here on the website: https://sapient.industries/careers/
Sam & Martin