Matidor eliminates collaboration and visibility challenges by consolidating all key project information on one intuitive, map-based dashboard, with real-time updates that can be shared between multiple parties.
With Matidor, all stakeholders can drill down to a specific location with user-friendly GIS tools and key data such as budgets, tasks, and files, making it easy for non-technical users to update and share geospatial information along with critical project details. This platform has been a value add for project managers, field workers, and environmental consultant.
We currently have five paying clients in the energy sector, including a mid-size operator, and are partnered with nine environmental consultants accumulating $82,000 CDN in revenue to date for our SaaS product offering. User engagement is strong, with over one hour daily active users (DAU) spending up to two hours on the platform each day.
Product is live and running. However, we are continuously improving it using Agile methodology - the next in the roadmap will create an API layer to integrate with 3rd party software such as accounting software and GIS software. Eventually, we want Matidor to become slack-like integration platform.
Total revenue to date would be $850,000 CDN. The majority of revenue is from a joint collaboration project working with a consortium of technology partners like Unity, MNP and provincial health authorities along with FEMA as part of the Digital SuperCluster's initiative to build out a pandemic monitoring platform against COVID-19. We have another $200,000 expected to close within this quarter as well from our partnerships.
The global market for field and environmental services is growing year on year and is expected to hit 44 billion dollars by 2022. Out of the 30 Billion dollars spent on field services, we have identified (through our paid channels and clients) an obtainable market of 225 million, targeting mid-sized environmental and engineering firms across North America.
Our ideal customer is a mid-size field servicing firm, with anywhere between 20 and 200 employees. Companies in this segment have often outgrown their start-up phase, where there are little to no standard operating procedures in place, but have not yet reached a size where it is financially viable to develop a bespoke data management system.
They often have hundreds of active projects at any given time and are faced with inefficiencies and missed opportunities due to poor data management practices. Furthermore, they have many clients across multiple sectors, with whom they need to share data in real-time - a need that simple spreadsheets cannot address.
We will build out the market by moving down from Calgary and targeting important demographic regions such as Denver, Houston, Dallas, and surrounding areas. Since these regions are the main drivers in influencing the environmental and energy markets across North America, our initial goal is to bring on board at least a few producers and servicing firms in each of those cities.
Problem or Opportunity
Whenever any form of digging, mining, building, or developing is being performed, the government and developers require that builders/operators have a proper lay of the land.
Project managers, consultants, and field workers in this space are still using archaic tools such as spreadsheets and complicated mapping software that often result in the inability for them to effectively do their jobs while complying with their environmental responsibilities.
It has been a recurring problem where sharing data is cumbersome and still for many companies, managing field projects with a lot of moving parts is a challenge: the process of accessing tabular and spatial information requires too many steps and involves too many people, making it frustrating, slow and costly.
Matidor’s map-based interface uniquely meets the needs of field companies, allowing for tasks and information relating to physical locations to be readily available to both technical and business audiences.
Matidor can be used as a stand-alone platform, or integrate with corporate systems, third-party data sources, and field devices. With fewer people and less time tied up distributing information, Matidor powers more informed decision-making, reduces project risk, increases efficiency and makes every day more productive and successful. We have repeat usage of at least 1 hour daily on the platform while being able to manage their data. A lot of other software only have a one-way sharing capacity that does not allow multiple collaborators to easily share data and that is the biggest problem in the industry is that people do not understand the aspect of collaboration can save a lot of time and cut down inefficiencies.
Solution (product or service)
Matidor’s map-based interface uniquely meets the needs of field companies: tasks and information relating to a physical location can be readily seen understood by both technical and business audiences due to this interface.
Our key features to help companies stay on top of their daily workflow include a centralized dashboard showing budgets, cost reports, files & historical details. In addition, our detailed site maps & user-friendly geospatial drawing tools help eliminate collaboration hurdles between departments, improve operational efficiency, and business development effectiveness.
Matidor doesn’t require the long training cycle of other industry-specific systems, and an unlimited user model opens the door to viral growth. Stickiness is built-in through historical data storage and the aforementioned network effect. Matidor’s founders also have the right mix of technical and domain expertise to support customers in their journey. Matidor is the only software product that combines mapping and project management with controlled, two-way sharing.
The majority of Matidor’s competitors are indirect, either in the Portfolio & Project Management (PPM) or Geospatial Information System (GIS) categories. Leading PPM solutions focus heavily on textual or numerical features like spreadsheets and time tracking, and include products like Excel, MS Project and Basecamp. Leading GIS solutions, on the other hand, focus on geospatial functionality like data manipulation and visualization, and include products like ArcGIS and Google Maps.
The closest threat to us comes from legacy enterprise software solutions that have added more collaborative components to their platforms, like SiteView for example.
Fortunately, our style of development allows us to be far more agile and to integrate with many software solutions, which they often cannot. Furthermore, rather than going head to head with such software giants, we choose to approach smaller and younger companies that do not have the barriers of years of legacy data locked by enterprise software.
Advantages or differentiators
Matidor is the only software product that combines mapping and project management with controlled, two-way sharing, and can be used as a stand-alone platform or be integrated with corporate systems, third-party data sources, and field devices. Matidor doesn’t require the long training cycle of other industry-specific systems, and the unlimited user model opens the door to exponential growth. Stickiness is built-in through historical data storage and the aforementioned network effect. We believe that these factors, and many others, will contribute to the success of our solution against competition.
Value Prop: 1. Operational efficiency – less budget overrun, more organized data, historical tracking 2. Better customer-vendor experience – sharing and collaboration allows transparency and real-time problem solving 3. Intuitive and turn-key – no upfront investment or heavy training required to operate. 4. OEM and customizable – a team of web GIS experts are ready for integration or any customization needs.
Our revenue is generated via a base-license fee per company, with an additional per-project, location-based charge on top. By avoiding the pay-per-user model commonly used by similar software providers, we keep our clients’ costs lower, while also protecting their security and privacy. This model allows the number of Matidor users to grow exponentially as clients bring other stakeholders on board, which has been a major differentiator when compared to other software solutions.
For consultants, Matidor charges a Platform Access Fee of $8,000/year which allows for unlimited projects and user setup. For enterprise clients, Matidor charges the same Platform Access Fee of $8,000/year, plus $100 per active project/year. For example, a company with 400 projects would pay $48,000/year. We also offer development services for companies that have custom requirements or integration needs.
Our expectation is to hit $550,000 CDN by end of this year, $1.83 million CDN by end of 2022, $5.46 million by end of 2023 and lastly our project revenue is hitting $16 million by 2024.
Matidor can be sold as a standalone business application or as middleware. The main channels we use to acquire customers include:
1.) Partnerships with consultants: Our strategy is to onboard environmental consultants as channel partners, and to gradually introduce Matidor to their clients through their networks and joint marketing efforts. Through these partnerships, we will not only decrease our own business development costs, but will also benefit the consultants by offering them generous referral incentives. Ultimately, we are hoping to capitalize on the network effect by which our customers organically refer Matidor to their own networks.
2.) Integration partnerships with data and technology providers: Our ultimate vision is to provide a one-stop-shop experience for the field professionals. Examples of potential integration partners include providers of: financial data, asset tracking, drone imaginary, lab analysis, risk assessment, etc. So far we have secured three data collection partners (YodelMe and Krinkle Apps,) and are in final discussions with a lab data management company called ESdat and a geomatics data provider called Terramaps.
3.) Direct Outreach and Events: We regularly promote Matidor to mid-size operators and servicing firms through events, direct prospecting (cold calling and Linkedin outreach), and in-person selling. Our live events include conferences and lunch-and-learns in target regions, and we support these events with online, email, and social promotion. For example, back in February, we were selected to present at the Alberta Chapter of CLRA (Canadian Land Reclamation Association).
During more recent times, webinars have also become an important part of our promotional strategy, and we hosted our first webinar in June in collaboration with the ESAA (Environmental Services Association of Alberta).
4. Association memberships: We have joined multiple associations, such as the ESAA, CLRA, CETAC (The Canadian Environmental Technology Advancement Corporation) West, and CleanTech Alliance to help us gain exposure through industry-specific publications, webinars, and educational awareness. Through these partnerships, we have had our case studies, blog content, and videos published to help educate the field servicing market and their value chains. We have also utilized Canada’s trade commissioners to help build cross-border relationships with our target cities in the U.S.
Money will be spent on
50% R&D: API and data partners 40% Sales & Marketing: expansion into CO, TX, and other major environmental and energy serviced states 10% G&A
Strength: Intuitiveness, turn-key, tailored to non-technical users. Interactive map with operational data Sharable and collaborative Integration ready, flexible and customizable
Weakness: Brand awareness Lack of distributors and partners Lack of case studies
Opportunity: Replace fragmented and outdated solutions and become the industry standard for location-based project collaboration Integrate geospatial with AR and VR Increasing reliance on web geospatial solutions (logistics, field services, energy, emergency response, healthcare, etc.)
Threat: Emerging competitors Uncertainty in global economy and hence IT spending
Incubation/Acceleration programs accomplishment
Participation in Cascadia Cleantech Accelerator Participation in e@UBC Core Venture Program Phase 3
Won the competition and other awards
•TechCrunch Disrupt 2020 Startup Battlefield 2nd Place •Emerging Rocket Cleantech Award •Top 3 Finalist at Canadian Export Challenge