LooView – 30 September
This week we present LooView: the all-in-one automated business management system for portable toilet owners and operators. LooView is allowing these businesses to provide a higher level of service at a fraction of their original cost. They are ultimately saving portable toilet rental companies large amounts of time and money, making for business models that are more efficient and more effective.
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LooView’s ideal customers are portable restroom rental operators (which consist of owners, drivers and operators/dispatchers). Typically, portable toilets are monitored manually and serviced on static schedules. Portable restroom operators (PROs) lose hundreds of hours annually using traditional methods of route planning and service dispatching. PROs spend valuable time and resources planning routes and servicing toilets on a routine schedule, regardless of their actual condition and service needs. Current solutions available on the market are unreliable and time consuming to integrate because they rely on mixing different types of incompatible solutions together. The system is inefficient and has a tremendous amount of room for improvement.
LooView is an all-in-one business management system, designed specifically for PROs. LooView has developed a smart sensor (Spot) that is installed in portable toilet tanks. The sensor, coupled with the LooView web application, provides PROs with a real-time overview of their inventory, customers, and drivers, all from one location. Using real-time location and fill-level monitoring provided by the Spot sensor, LooView’s system determines which toilets are in need of servicing and generates the most efficient routes to provide the highest level of service.
LooView has a first mover advantage on the infrared-based level detection hardware, coupled with a SaaS model which will retain 100% of customers. The hardware is built to withstand extreme conditions ( i.e temperatures and harsh chemicals) and hold a twenty year battery life.
The company currently has several customers throughout western Canada and Florida. They did a soft-launch in September 2021 with customers that have already expressed interest in purchasing LooView’s new hardware and software. They also have exclusive partnerships with a manufacturer of smart sensors and other IoT hardware.
LooView’s biggest hurdle is to ensure that they can integrate their solution into Portable Restroom Operator businesses in a timely and efficient manner, before their busy season starts next year. Given the dissipating threat of the COVID-19 pandemic, they project that it may be one of the busiest seasons for the industry to date. They will overcome this hurdle by establishing business relationships with PROs and designing a standardized system for service implementation.
James Eung, Chief Executive Officer – LinkedIn
Neal Sorochan, Chief Technology Officer – LinkedIn
Pranay Ramash, Co-founder – LinkedIn
Seth Glasner, Co-founder – LinkedIn
LooView is currently seeking to raise capital. They are looking to get $2M invested at a $10M company valuation. They plan on using this funding to increase their inventory levels, hire quality talent, pay their current employees, and begin sales & marketing initiatives. The company is currently funded by Private Investors, Doppl Inc., and all the sales they have made thus far. In terms of expanding their team, LooView is planning to hire more developers, business development representatives, and customer relation specialists.
The financial model of the company is based on the Serviceable Obtainable Market. The sales revenue projections for the first year are $5,916,000. The company then projects significant growth, hitting 5% of market penetration in North America by August 2023 which will allow the company to see an annual revenue of $31.7M.