HS Govtech Solutions Inc HDSLF

Technology Software - Infrastructure

HS Govtech Solutions Inc. is a Canada-based software-as-a-service company. The Company's principal business activity is the development and sale of information and communication management systems for health inspection departments of federal, provincial, state, and municipal governments in Canada and the United States of America. The Company is focused on providing an efficient data and workflow management platform. Its platforms provide inspection, information, communication, and data management systems that enable government agencies to operate more efficiently. Its cloud and mobile-based platforms are deployed in approximately 800 state and local government organizations across North America. Its solutions include environment health, code enforcement/ fire & safety, virtual inspections, payment processing and more. The Company also delivers government grade technologies to private businesses through its My Health Department platform.

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HS Govtech Solutions Inc

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Post by Checkouton Jun 08, 2021 8:12pm

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An Update from Its Chief Executive Officer, Silas Garrison:

June 8 2021
As we move into the second half of the year, we are confident that the growth HealthSpace has will accelerate. We continue to strive towards our goal of helping government agencies operate more efficiently. Our team works long hours and gives great care to each implementation, each feature, each part of the process when it comes to delivering software for each of our customers.
HealthSpace has had a strong start to the year with US$3.8M in new deals announced in the first quarter of 2021, and US$5.6M in deals since the start of the year. Based on current visibility and the conditions of the government market, we anticipate achieving US$8M in ARR under contract within the next 6-9 months.
Please read some highlights from our news release and visit our website to read in full.
Increased Resources
Raising over CAD$6M million in equity has enabled us to bring on the substantial resources needed to deal with more aggressive R&D and feature development strategies, as well as handle the increasing volume of customers.

Team growth to 74 Full-Time members
New Senior management members: Paul Victor, Head of Engineering and Chirag Bhatt, Director of Regulatory Affairs for Environmental Health

Sales Pipeline
I am immensely proud of the growth our sales team has generated, especially in a time where getting customers' attention can be extremely challenging.

The sales pipeline has increased every month so far in 2021. The total pipeline of deals currently stands at over US$22M which are expected to close over the next 12-18 months.
Since November 2020, we have 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.

R&D and Innovation
Our main focus as a company, outside of sales growth, has been on innovation.

Developed a product roadmap that includes GovCall
New features for My Health Department and,
The launch HSPay - which we anticipate will begin generating revenue in 2021.

GovCall
GovCall was chosen as our next product innovation after careful selection and consideration. The launch of GovCall has profound implications for the growth of our company.

The fastest to revenue of any product/feature the company has ever released.
Allows us to expand into new markets with a key product differentiator which truly is a disruptive technology for government.

We believe GovCall will not only serve the market needs of today but will help shape their perception of what technology should be in the future.
HSPay

Continuing our development and deployment of HSPay.
Start transacting early this summer which means HSPay will be generating revenue.
Nearly every new contract signed over the course of 2021 has included a provision for HSPay.

The State of Virginia Department of Health signed a contract amendment in late April to add HSPay to their HSCloud implementation. The first phase of the rollout for HSPay in Virginia is scheduled for October. Annually, Virginia collects over 30,000 payments with amounts ranging from $25 to over $1,500 each. Once all phases are implemented, we believe the majority of the tens of thousands of payments will flow exclusively through HSPay.
My Health Department
My Health Department continues to be a key product differentiator in the market. We are continually improving upon the platform by adding new features.

Allows for our customers to utilize My Health Department as a Content Management System (CMS) which allows government agencies to control what data and how they publish to the public online.
My Health Department support custom content to be published online and it does so from within HSCloud which means any or all of the regulatory data that underpins each department can be published with a click.

We at HealthSpace are grateful to our customers for entrusting us with their business, to our fellow team members for the dedication and hard work we share, and to our shareholders for their trust and investment. Please visit our website to learn more.