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Invest in SampleServe, Inc.

Environmental Sample App For Collecting, Mapping, and Reporting Contamination

Pitch Video
Investor Panel

Highlights

1
Environmental sampling and reporting projects completed faster, accurately, and for a 50% savings.
2
Our patented Digital Chain-of-Custody (D-COC) has applicability in other significant markets.
3
It's easy to learn and to use. Most users learn and become proficient in under 4-hours.

Our Team

I'm a Geologist and I've been collecting environmental samples and creating reports for 34-years. I developed this software over the years to speed sampling, increase efficiency, and reduce errors. The SampleServe software platforms is design from the ground up to account for each of the user types in the environmental project data cycle. Each user group has specifically designed functionality for their particular data needs. Data is digital right from the start and stays digital for repeated cycles and reporting. No paper necessary.

Investor Video Introduction

SampleServe Pitch Deck

This Presentation is for SampleServe’s Environmental Sampling Data Automation and Reporting Platform.

You may or may not know this, but most groundwater pollution sites in the US are related to the storage of gasoline and diesel fuel, basically your typical gas station. The numbers vary based on the operator, but at any given time, between 10% and 25% of all gas stations have some kind of on-going pollution problem. Other industries like manufacturing firms, chemical companies, dry cleaners, even home heating fuel tanks also contribute to the problem, but gas stations make up the majority of contaminated sites in the US.

The rules vary by state, but when a tank does have a leak, all states have regulations about the owner of the site conducting an investigation and performing on-going monitoring of any impacted groundwater and conducting a cleanup if necessary. 

You would think that the environmental industry, an industry founded in science and technology would be using the latest and greatest technologies for gathering data, conducting investigations and preparing reports! I'm Russell Schindler, Geologist and Founder of SampleServe and I’ve been doing this work for 33-years and I’m hear to tell you, they’re not, in fact it’s quite the opposite.

They still scheduling and tracking project details in excel, they’re still writing down data on paper forms. They’re still filling out sample bottle labels and laboratory instructions by hand. All this information is then manually entered back at the office, typically by a third person. Then, they complete the reports based on the billable hour using outdate software and techniques. Bottom line, the industry is still gathering data and preparing reports the way they did 30-years ago.

Again, the investigation work and the associated regulatory reporting is required by law. This work has to be done. Most of these projects cost hundreds of thousands of dollars and take years to complete. The lifetime length of a typical project is between 6 to 8 years with some projects going on for 30 or more years. The current practice is that nearly all reports produced by the industry are generated manually, on a time and materials, billed by the hour basis, using Microsoft Word, Excel, AutoCAD or GIS products. Reports generated in this fashion cost between $2,000 and $4,000 each and are typically prepared 4 times per year, that adds up! This current practice equates to billions of dollars spent annually on sample collection, data entry and report preparation techniques that were developed back in the 80’s.

The SampleServe solution to this outdated methodology, is a software platform that ties together all the different users under one central database. This software platform has a web-based project management tool that can save Project Managers time on scheduling and communication.

The project scope and details of each project are pushed to our mobile field app which allows the field technician to collect and transmit all relevant environmental data including GPS and photos. They then can also print QR-coded sample bottle labels in the field, at the time of sampling.

For the lab, the QR-coded labels couple with our patented digital chain-of-custody allows them to log samples at the lab instantly and saves them significantly on data entry costs and completely eliminates transcription errors.

Then when all laboratory analysis is complete, the lab pushes data back to the platform where actionable graphical reports can be generated within seconds. Data Box Maps, Groundwater contour maps, iso-chemical contour maps, graphs and data tables, all generated and ready for delivery in seconds.

Using SampleServe's web and mobile application we can save the field sampling crew roughly 20% of their time on a typical sample collection investigation. Because our software can take all the same data and generate all the required reports in an instant, we save about 90% of the cost of the current report preparation technologies.

Here’s how our business model works. Our fees are based on project sampling and reporting activity. There are no sign-up fees, no monthly, or annual fees, and no fees based on the number of users. You can have as many users as needed for a successful project; you decide. Because we bill by the sample, small projects have small fees and larger projects have larger fees. SampleServe fees are very predictable and affordable. 

We provide all the tools and software necessary for people to collect their raw data, then we turn it around as well organized and easily customizable graphical reports that are completed in seconds.

The report preparation fee is based on the number of samples collected for the project so that the fee scales with the size of the project.

The environmental engineering services market is a huge worldwide market. In 2018, it was nearly $33 billion. By 2025 it'll be a $44 billion market, all driven by ever-increasing environmental regulations and environmental liability. A large portion of these funds is spent on inefficient investigations and inefficient reporting.

There are approximately 18,000 engineering companies in the US that provide some type of environmental engineering services. These 18,000 companies collect approximately 135 million environmental samples every year. Using an average of 18 samples per report, that translates into about 7.5 million reports generated every year and growing. At an average price of $270 per report, the potential revenue is over $2 billion. The basic report is just the beginning of many products that can be offered, so that means there is still plenty of room to expand the opportunity in the future.

Our early customer acquisition has focused on the end user clients such as mid and large size oil companies, manufacturing and chemical companies. Companies that have hundreds of properties that have on-going sampling projects. We already have traction and increasing revenue with companies like 7-Eleven and BP Amoco. We currently also target mid and large size engineering companies that service those same clients. The cycle time from freemium user to paid reporting customer is approximately 8-12 weeks.

Revenue from software is coming in. As we on-board new customers and put them through their free trial, we anticipate revenue to multiply. As more and more clients become familiar with our program and we fine tune our sales and onboarding process, sales revenue is anticipated to grow rapidly. Revenue is projected to exceed expenses in roughly 16 – 22 months.

By far the largest form of competition is the Status quo, engineering companies that use old school paper documentation and AutoCAD or GIS to do reports. There are a few competing products that have some of the features that SampleServe possess, however, none of them offer all the required features in one platform. The biggest differentiator I think between our platform and their products is that the SampleServe platform handles all the users needs, without having to supplement old paper techniques to fill the gaps. Ours is the only product that prints QR-coded sample bottles labels in the field saving time and increasing accuracy. Also, with the SampleServe platform, report production bottlenecks are eliminated. With most other report production platforms (GIS, AutoCAD, etc..), only certain users have access to the software and/or the skills to generate the needed graphics and images. 

I’m the founder of SampleServe. I’m a Professional Geologist with deep industry experience. I’ve founded several environmental companies and hold 7 patents related to groundwater remediation and sampling.

Frank Swierz is the CTO and leads Product Development. Frank has a computer engineering degree and has 20 Years experience as a software developer with Thomson Reuters

Paul Goudreault leads our sales development and strategy. Paul has substantial experience managing environmental engineering companies and selling to large petroleum energy companies.

This platform was originally developed for groundwater sampling, however there is a significant volume of work in other types of sampling media, such as, municipal drinking water, (as an example… think City of Flint MI), cannabis sampling, (the legalization of cannabis in more and more states has brought with it the requirement for lots of product safety testing), there are other types of sampling opportunities as well.

While some of the nomenclature and data units of measure need to be adjusted depending on the type media, the process is essentially the same. These other sampling media formats are currently being evaluated for potential opportunity.

In exchange for an equity stake in the company, we are asking for $2,000,000 investment.

2 previous equity rounds for $1.8 Million dollars closed Feb 2019 and again in February of 2020. A $300,000 convertible note was also converted in December 2019.

We will use these funds for customer acquisition efforts such as direct sales, web and social media marketing, sponsorships and advertising.

It's anticipated that an exit via an acquisition will occur within 3 to 6 years. The types of potential acquiring companies include laboratory related software companies, larger environmental and civil engineering companies and possibly larger environmental laboratories.

Thank you for your time and attention! If you have any questions or would like additional information, I can be contacted at the e-mail and phone number shown here.

Supplemental Information

Here’s how our patented digital chain of custody works. When a sample is collected, we verify the sampler's identity using three-part authentication. The first part is the username and password. The second part is the user's signature. The third part is we require the user to take a selfie with each sample collected. In addition, we collect the GPS coordinates and a date and time stamp for each sample collected. Although not currently built into the app, our patents also include other biometric factors like fingerprint, retina scans, and facial recognition.

In order to do a custody transfer with another party we use the same process. The user identifies the samples they are relinquishing custody of. They then go through the three-part authentication process. The person taking custody either scans the QR-codes or selects the sample IDs they are taking custody of. They then go through their own three-part authentication process and accept custody of the samples. The platform recognizes, in real-time, that the new person is in possession of the samples transferred. Again, the time and GPS location is recorded for both parts of the custody transfer.


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