SenSen Networks Ltd Advances Emerging Technology Application Pipeline After Achieving Record Revenue
SenSen recently completed the acquisition of Scancam Industries Pty Ltd – specialists in the retail sector, particularly in fuel theft.
(,) has made its mark in four business sectors – Smart Cities, Casinos, Retail, Smart Surveillance – and has a pipeline of emerging technology applications in many new sectors.
The company achieved record revenue for fiscal 2021 of $ 5,532,537 with growth of 47% year-over-year.
SenSen generated annual recurring revenue (ARR) of $ 2,673,821 with continued ARR growth of 33% proforma.
The company’s solutions are based on its intellectual property, which is protected by a large and growing patent vault.
SenSen currently has a portfolio of patents covering eight patent families, four of which are granted and the rest are pending. Further patents are planned in the short term.
Highlights of fiscal year 2021
At the start of fiscal 2021, SenSen took a major step in listing on the U.S. Venture Capital Market OTCQB (SNNSF), to make it easier for U.S. investors to participate in SenSen’s growth story.
In line with its active growth strategy, SenSen acquired the Snap Network Surveillance business, a global leader in AI-powered multi-camera tracking software.
This strategic acquisition allowed SenSen to integrate all intellectual property internally, including patents, trademarks and know-how, to launch a revolutionary new capability to autonomously track people and things across networks. large-scale cameras.
It is now an integral part of the proprietary SenSen SenDISA platform.
Well funded to improve delivery capabilities
SenSen successfully raised $ 7.15 million in January 2021 with strong demand from institutional and sophisticated investors.
The funds are being invested to accelerate revenues and improve SenSen’s delivery capabilities to global customers, particularly in the United States.
Since the capital increase, SenSen has established its North American headquarters in Las Vegas with strong support and grants from the Nevada government and has made key hires to support sales growth in the region.
Acquisition of the Scancam
Towards the end of the last quarter, SenSen entered into an acquisition agreement with Scancam Industries Pty Ltd – specialists in the retail sector, in particular in fuel theft.
This acquisition, which was finalized in the first quarter of the new fiscal year, significantly unlocks future revenue for the SenSen platform through organic and targeted growth of the Australian fuel retail market from 250 customers to 1,000 over the three years. coming years ; there are a total of 6,500 gas stations in Australia alone.
At the same time, SenSen’s dedicated sales team is already looking to secure clients in the broader retail market with a view to securing clients in this adjacent market both in Australia and overseas.
The company rebranded and changed its web presence to www.sensen.ai to better reflect its vision and ability to deliver sophisticated AI-powered data fusion solutions.
SenSen is on the right track with its plans for rapid expansion across all lines of business and seeks to create growth momentum by:
- Investment – develop its marketing and sales channels to support accelerated growth in the smart city, retail, smart surveillance and casino markets and enable the company’s product team to create robust and scalable products.
- Expansion – gain a foothold in all current and adjacent verticals including:
- Increase the use of SenSen’s intelligent surveillance analysis software from 10,000+ cameras to 100,000+ cameras in 2-3 years
- Develop SenSen’s casino gaming solutions to over 30 casinos in 2-3 years
- Grow SenSen’s fuel theft solutions offering from 250+ to 1000+ in 2-3 years. The long-term goal is to implement this solution in the wider retail market and grow to over 1,000 stores in 2-3 years.
- Develop SenSen Smart Cities solutions, including road safety, traffic analysis, sidewalk and parking management solutions, from 35+ cities to 100+ cities in 2-3 years
- Openness – Unlock future revenue from SenSen’s patented platform by building the app developer ecosystem to increase customer base and associated revenue through third party developers.