New Investment Opportunity: GoArc
Cutting industry costs by protecting workers and critical assets
- SaaS platform cuts costs and risk for major industrial enterprises in manufacturing, chemical and energy extraction by delivering real-time data and safety improvements
- Cuts operating costs by $2M+ per site per year; 70% accident reduction; 2.5X risk elimination; 75% process efficiency improvement
- Customers include Delek US (also strategic investor), ICL, Keppel; 130K end users at 100+ locations
- 100%+ YOY revenue growth projected to $11M in 2022 leveraging company's growing customer base, 135% net dollar retention; $7.8M contracts already signed in H1; 80% gross margin
- $10M Series B extension round. The initial $5M Series B was led by Delek US; iAngels and notable Israeli investors including Gideon Tadmor, Nir Gilad participating
BOOK A CALL
with your Investor Relations representative
Dear Josb,
Businesses in the US spend more than $1B each week on serious, non-fatal workplace injuries, while work-related deaths and injuries cost more than $171B each year, according to official US statistics.
OurCrowd is investing in GoArc, a safe connected worker platform that aims to transform the way large industrial companies protect their workers and critical assets in real time, cutting costs and boosting efficiency. The details in this email are based on information received from, and verified solely by, the company.
The Problem
Manufacturers and industrial companies, chemical, oil and gas plants, lose billions of dollars each year through workplace accidents that result in injury and even death. Most routine safety checks are executed manually and most accidents are caused due to human error and lack of real-time information.
The Solution
GoArc's SaaS safety platform connects legacy industrial machines to a cloud-based monitoring platform, protecting workers, machinery and other critical assets with real-time information and alerts. Using AI, the platform calculates the risk arising from all existing information sources, and connects the employee to the information needed in real time. The actionable insights provided by the platform enable fast, intuitive decision making, greatly reducing the risk of incidents becoming accidents.
The company's technology cuts operating costs by $2M+ per site per year, and improves process efficiency by 75%. The platform reduces accidents by 70% and eliminates risks by 2.5X.
GoArc's vision is to become the world's leading connected worker platform and the largest global manufacturing data provider.
The Traction
GoArc projects 100%+ YOY revenue growth from $5.2M in 2021 to $11M in 2022, leveraging its growing customer base of major industrial companies and 135% net dollar retention. $7.8M in new contract value was signed in H1 2022. The company enjoys gross margins of 80%.
The Customers
GoArc has 10 existing customers using its platform at more than 100 locations for more than 130,000 end users. Customers include Keppel (SGX: BN4), a major multinational based in Singapore that develops and operates infrastructure, energy and other major projects in 20 countries; Delek US (NYSE: DK) a petroleum refiner; and ICL (NYSE: ICL), an Israel-based multinational industrial manufacturer of fertilizers, metals and chemical products.
The company has been approached by Shell (LON: SHELL) to install its platform at eight sites in the US and Canada.
The Round
The company completed a Series B round of $5M at a $65M pre-money valuation led by DK innovation in February 2022. OurCrowd is investing up to $1.5M in this Series B extension round at the same $65M pre-money valuation. Delek US, a major customer, is also a strategic investor.
Meet the CEO
We're hosting a webinar/conference call on Wednesday, July 13th, at 7PM Israel / 12 Noon New York / 9AM San Francisco for investors to meet CEO Dror Barak and learn more about GoArc.
Can't make the webinar? Register and we will send you a recording of the call.
The GoArc Solution
GoArc delivers a constant flow of information from the connected worker and processes through an integrated, centralized, cross-organizational data and EHS management system. AI-driven analytics identifies pain points and generates a risk model to drive improvement in company asset and safety strategies and control the impacts of change on workers and productivity. With edge-to-enterprise visualization and intelligent data management powered by AI and machine learning, the connected workforce and management across the company have clear and simple universal access to validated data and context. GoArc's safety platform connects siloed information, providing real-time operations and safety performance data with analytics and insights, including anomalies and corrective actions, visualized on one platform. Extensive analytics and risk assessment based on asset health and safety data enables conducting risk-based inspections based on threat likelihood and potential consequence, to proactively identify hazards and implement risk control.
Next steps:
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