Today’s Q&A Wednesday is with Lemuel Williams, Director of Business Development at Uptime Devices.
Q: Give us the elevator pitch for you company?
We are a hardware manufacturer of data center sensors that can detect threats such as ambient, power, and security. We have engineers in India and Australia allowing us to compete within a global scale for software development; along with, relocating our manufacturing facilities to Singapore and El Paso, Texas to serve our customers in different regions of the world that our product offering covers, and drive down channel cost on acquiring these devices.
Q: How has the company been financed so far? Are you looking for additional capital?
Bootstrapped and no Angel Investors. We have had several financing options with local financial institutions in times of need for capital and operation expenses, and have kept our revenue and sales above the “yellow line”. Since our industry requires a heavy infusion of capital to keep up with the giants in the competitive space, acquisition, mergers, or closing its doors are the options that one has. Yes, we are looking for additional capital to help offset from the purchase back in 2001 either being debt to capital recapitalization. This will allow us tons of breathing room to create products in which we know that will help shape our market further 2-5 ahead along with channel partners requesting new offerings to help with their current sales model to bundle these sensors.
Q: What was your first indication that you really had something interesting here?
When we signed our first OEM agreement with a Fortune 500 Industrial component leader that then signed another of our OEM partners, we knew we had something good but had to ensure that we are delivering our message correctly and supporting our channel partners who are implementing our technology as a solution than just a standalone offering. The sensor market to date has a market cap of 300-500M and the share of it “Intelligent Sensing” being 8-10% and growing
Q: How has customer adoption been so far?
It has been a steady adoption. We have been in the business of educating our customers of the product offering that we have along with what is being seen and what will occur in our market. Now that power, cooling, and energy are a “hot” topic, this is yielding channel interest along with having our product offerings integrated into other solutions.
Q: What can we expect to see in the future from your company?
We will be expanding our product offering into the power space with flexibility for price and distribution. Also, we are developing our hardware platform to software since our partners are seeing this trend within the field and our industry is moving away from hardware to software implementation. Since power reduction, green energy are the hot topics within the data center, we are looking for ways to tackle the problems at first so that competitive advantage will not have the best of us, also ensuring that we keep a close eye with our channel to know what they need from us.