- Flashgate is revolutionizing the retail loss prevention industry by reinventing the technology as a digital signage platform
- Classic disruptor entering a mature $9 Billion industry and transforming it into a larger recurring revenue business from the sale of Digital Out Of Home advertising
- Strong IP portfolio and technology roadmap – at the front of the race toward the “cashier-less” store (Amazon Go)
- Acquired an existing retail loss prevention business with 400 retail customers through which to roll out new technology
- Launched live product in April 2017 with a growing order backlog
Flashgate's recurring revenue business model is based on a monthly fee for Flashgate Enterprise analytics data plus the sale of advertising to brands to be placed on the bright, LED displays within the Flashgate units located at the front entrances of the retail store. This contrasts with the traditional retail loss prevention model of selling hardware for a small margin. Flashgate has multiple recurring revenue streams and captures the data to be a leader in all of them.
The Flashgate business model benefits all parties: The retailer gets the most advanced anti-theft system on the market today for virtually zero capital outlay while also getting access to advanced customer analytics; Brands get access to consumers with purchasing intent in a brand positive shopping experience plus demographic and traffic data; Flashgate generates revenue to grow while continuing with the innovation and advancement of its patent pending technologies and products. The Flashgate revenue streams are:
- Recurring revenue from the sale of Digital Out Of Home (DOOH) advertising
- Sales of data analytics
- Sales of customized consumables
Flashgate is innovating at a rapid pace across the Company's whole product line. First generation product is already in the market and being used by customers and we are continuing to advance all areas including:
- Patent Pending ability to combine RF and RFID detection capability with display technology
- Cloud based monitoring, advertising delivery and scheduling technology
- Analytics platform trending store traffic counts, alarm events, sales sell through and biometrics such as age, gender, time spent in store and customer exit satisfaction
- Retail POS integration with RFID detection combined with display technology
By combining some of the best software developers and hardware engineers with a novel vision on what is possible, Flashgate has invigorated retail loss prevention with new technology and capabilities. Flashgate systems are the firewall at the front entrances and exits of the retailer and are positioned to provide advanced unattended checkout capabilities. Furthermore, with the burgeoning Programmatic Advertising industry driving demand for location based advertising, the delivery of the technology to uniquely identify the geo-coordinates of every display screen in every retail customer along with the exact traffic measurements, retail store clientele profile and trade area demographics makes Flashgate unique in the advertising industry.
Led by an experienced management team, Flashgate has been built from the ground up for the future. Founder, Chairman and CEO Greg Watkin was formerly COO of Epic Data, a Vancouver based technology provider to the aerospace industry, servicing customers such as Lockheed Martin and Bombardier. He also led the $100M+ registry services technology division of Davis+Henderson, providing services for Canada's largest banks. Board Member and President Kyle Hall was formerly CEO of PNI Media, a Toronto Stock Exchange listed company providing eCommerce services in a SaaS model for companies such as Walmart, Costco, CVS, Sam's Club, Rite Aid, Walgreens, Tesco and Office Depot. Hall successfully negotiated the sale of the business to Staples Inc. in 2014 and spent two years as an executive at Staples before leaving to join Flashgate. Both principals have experienced hyper growth multiple times while successfully managing the business to deliver profitable, sustaining returns.