Agoracom Blog

VIDEO – HealthSpace Data Systems $ $HDSLF Aims to Redefine Government Efficiency with Explosive Growth & New Contracts

Posted by AGORACOM at 2:26 PM on Saturday, July 10th, 2021
HealthSpace HS 300 x 300

If there is one thing we know about governments – whether it’s at the local, state, or federal level – it is that they can be hugely inefficient.

HealthSpace Data Systems’ (CSE: HS) (OTCQB: HDSLF) (Frankfurt: 38H) “empowering government efficiency” solution has led the firm to become an industry leading tech pioneer, providing both enterprise- and mobile internet-based applications to more than 500 state and local government organizations in North America, including in California, Missouri, Illinois, Wisconsin and Ontario.

In April, HealthSpace launched GovCall, a teleconferencing platform focused exclusively on the government market. The company now offers the only integrated product suite that incorporates inspection, administration and analytics across all platforms in North America.

  • cloud-based and mobile platform helps revolutionize every aspect of government regulatory work
  • including licensing and inspections, accounting, even disease surveillance

The company continues to go from strength to strength. Last month, CEO Silas Garrison presented a sizable corporate update, outlining:

  • a strong start to the year: US$3.8M in new deals in Q1 2021 and US$5.6M in deals since the year’s start
  • Anticipate achieving US$8M in ARR under contract within the next 6-9 months.
  • This past December $HS raised more than CAD$6M million in equity. 
  • Will be used to deal with more aggressive R&D and feature development strategies, as well as handle the increasing volume of customers
  • $HS has doubled the number of team members over the last 9 months, with over 30 new hires, and has 74 full-time team members today
  • Paul Victor joined as our Head of Engineering in March
  • Chirag Bhatt joined the team in May as Director of Regulatory Affairs for Environmental Health. 
  • The total pipeline of deals stands at over US$22M, expected to close over the next 12-18 months.
  • Since last corporate update in Nov 2020, $HS has converted approximately US$7.3m of the pipeline to either signed or contract awards. 
  • Annualized, this is an 80% conversion rate from the pipeline (contract numbers, not by dollars).  As of today, the pipeline represents the addition of US$6.8M in new deals added to the pipeline in 2021.
  • The deals in this pipeline are of all sizes, ranging from US$9,000 to over US$5m.

We sat down with him to talk through the company’s progress and look ahead to 2022 and beyond.  

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