In Force Technology ("IFT") was co-founded by a father-son duo in late 2017 with a deep operational understanding and expertise in the government and law enforcement industries. Together, the co-founders developed a software application, IN FORCE911, which provide schools and other at-risk organizations the means to notify and communicate with law enforcement in a more efficient and effective manner by reducing response time and increasing communications. After recent school shootings like Sandy Hook, the Department of Justice released an important study indicating that the reduction of law enforcement response time is the only mitigating factor when it comes to preservation of life. Therefore, time equals lives!
IN FORCE911 is a mobile panic button which provides teachers and school staff the ability to instantly alert law enforcement, in as little as four (4) seconds of a potential life-threatening event. Instead of picking up the phone to 9-1-1, a 53 year-old antiquated technology , teachers may launch an alert from our app, residing natively on any device, and alert law enforcement directly at the local level. Specifically, the local agency is notified directly to their in-car computers, at the local dispatch center and via the mobile phones of officers - both on or off duty. Moreover, the app opens up a real-time, two-way chat function which allows those experiencing the threat the ability to communicate directly with first responders. Of equal importance, IN FORCE911 allows teachers and other staff members the ability to communicate amongst themselves and share real-time information.
IN FORCE911 includes additional features and functionality, including IP camera integration, integrated and interactive building floor plans and schematics, information repository for staff, a reunification feature, and reverse alert notification. The reverse alert notification provides law enforcement the means to alert a school or school district of a potential threat in which the schools may otherwise be unaware - like a police pursuit in progress.
When an individual dials 9-1-1 it's most likely received at a centralized answering point not at the local level. Accordingly, the call must be routed to the correct, local agency after a series of questions have been asked and answered. This routing process can take upwards of 5 minutes to complete. Alarmingly, the majority of school shootings are over within 5 minutes and the national law enforcement response time to an active shooting is 12.5 minutes. Most disturbing, one individual is shot approximately every 15 seconds during an event. The problem is that law enforcement is arriving on scene after the event has ended, not before.
What makes IN FORCE911 Unique.
IN FORCE911 is the only holistic and all-in-one real-time notification application available in the industry today. While other companies provide variations of hard-wired panic buttons and other obsolete alerting mechanisms, none compete technologically or operationally with IN FORCE911. In fact, IN FORCE911 offers the only proprietary law enforcement interface which adheres to both CJIS-5 and FIPS 140-2 compliancy regulations. Moreover, IN FORCE911, including all its data, is hosted in the government section of Microsoft's Azure cloud environment. This means customers are not require to host the data on-premise and creates a smoother workflow. Furthermore, IN FORCE911 does not require any hardwired or third party integrations to accomplish the features and functionality as marketed - making it truly a "whole package."
IFT operates as a software-as-a-service (SaaS) business model. The company introduced the product to the market in June of 2018 and achieved over $100,000 in sales in just six months and with no sales force. In 2019, the company introduced its first Institutional Investor. The preferred investor invested roughly $1.8M through an equity transaction, at which time the company's pre-money valuation was calculated at $8M. With the infusion of capitalization, the company grew its operations by increasing personnel, launching new sales & marketing initiatives while undertaking new software R&D projects. Accordingly, the company's annual recurring revenue (ARR) increased by 124% to $373,632. Fiscal year 2020 was poised to be a significant year in terms of revenue growth, but the COVID19 global pandemic caused a massive and material interruption to business. Though the company had projected increasing its ARR by more than 100%, the municipal government and K-12 industries were entirely shutdown and became effectively unavailable. Despite that, the company did increase its overall ARR by roughly 10% and expanded its national footprint. Today, the company is established with approximately $500,000 in ARR and expects to double that number by the end of fiscal year 2021.
IFT predominately sells and markets its software to the municipal government and K-12 markets. Each contract entered into includes a three-year contract term and the renewal price per site license increases by 8% year over year. Since inception, the company has experienced about a 5% customer churn-rate and maintains exceptionally high margins. The annual cost of goods sold (COGS) calculate to about $15,000 per year. That number is subject to change as the company's customer adoptions rates increase.
Use of Funds.
With this tranche of funding, the company intends to allocate approximately 70% of the proceeds on expanding its sales and marketing efforts strategically in an effort to drive more interest to the company's website and social media platforms. Through the placement of digital ads, as an example. the company is confident that it will convert those contacts to leads. In doing so, the sales team will be in receipt of qualified leads which evolve to opportunities with a shortened buy-cycle. In addition, the company intends to allocate approximately 20% through enhanced R&D projects while the remaining 10% will be allocated toward operational expenses.
The time to invest in IFT is now! The stress of the pandemic has created a national mental health crisis. In fact, nation-wide, we have witnessed a 5% increase in domestic abuse call outs, a 75% increase in internet searches relating to support for domestic violence and abuse, depression cases are at an all-time high and, suicide rates amongst teens have never been higher. Isolation paired with psychological and economic stressors accompanying the pandemic as well as increases in negative mechanisms like - alcohol and substance abuse – are likely to come together in a perfect storm to trigger an unprecedented wave of violence in American classrooms. IFT must be prepared to answer the call from the industry when, not if, another mass casualty event unfolds. As a father, I hope we never witness another Parkland, FL shooting. But the reality is and as experts predict, the worse has yet to come. Invest in IFT now so that we can make the difference our children deserve!
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