NEW YORK,, May 10, 2023 (GLOBE NEWSWIRE) -- To our Shareholders
We are excited to provide an annual update for the Company, as much has happened since our merger with Tekumo LLC last June. As we outlined in our first letter, it was time to switch from being an IT Service company to our real “soul” of being a software company, to address the growing needs of a networked world and smart connected devices.
This decision to switch business models wasn’t taken lightly, as the management team knew in doing so, we would have to say goodbye to some prior long-standing contracts, that revenue would dip, and questions from outsiders would arise. However, the vision is still there, and the target is way too big to forget.
To that end, we have completed the development of our Service Delivery Platform to manage technical resources for installation and support, as well as monitoring and maintaining our customers’ connected devices.
We are also pleased to announce anchor customers in four areas:
- IT and Retail Services: The rise in adoption of automation & digitization in the field services industry, and the manual methods that hamper managed service providers today, has led to an industry leader adopting Tekumo as its OnDemand field workforce solution. We have also added partners in digital signage with OnPremise, and the rollout of smart technology across automotive dealerships, and two prominent Quick Service Restaurant chains.
- Smart Apartments: Smart apartments offer property managers more control, more insight and better ROI through smart locks, access control, smart thermostats, water loss prevention and energy conservation. We have contracts to install several thousand units across the country with a leading Smart Home provider beginning in Q2.
- Smart Buildings: Water and energy conservation play a critically important role in managing operating budgets for facility managers. Tekumo offers a comprehensive IoT platform that that allows managers to view and manage all their IoT technology needs in a single view. We have recently completed our first site surveys on properties in Miami and New York.
- Hospitality: Regulations to protect employees and guests in hotels are changing rapidly. We have been engaged to install panic buttons and other wireless technologies in leading hotel groups.
Our value proposition is simple - “Service delivered, with lower cost, more revenue, less effort – Just Smarter.” For Managed Service providers, we extend their network of service technicians, while lowering costs with less effort. For OEM’s, we increase revenue by providing a national installation network, while monitoring and maintaining their devices 24/7. For asset and facility managers we give visibility to all their assets, while providing an installation and maintenance network. For Smart Home providers, we have you covered.
Like the meaning of our name in Japanese, we are the next generation “Tech Cloud” that manages the work needed to deliver on the Internet of Things.
Our History
We started Tekumo after acquiring all the assets of Sequenza Inc. in January 2020. Sequenza dates back to 2013 as a managed service provider for IT and telecommunication services having completed projects for such companies as Target, Home Depot, McDonalds, US Bank, 7Eleven, and AT&T.
Many of the team have a shared background from one of the leading technician marketplaces, Field Nation. After a successful corporate exit, we realized collectively that providing a platform that could manage the whole service delivery process, rather than just self-sourcing a technician, was a much bigger problem for product and service companies. Our TekumoPRO service platform was developed over the last couple of years and has successfully delivered over 30,000 work orders and growing.
At the same time, the explosion of connected devices and the digital transformation brought about by the Internet of Things (IoT) revealed a larger gap in the market – how do you install, monitor and manage all those devices. This led to the evolution of our System Monitoring And Reporting Technology, TekumoSMART. We rolled out this extension to our platform in Q1.
The next chapter in our corporate history is dawning with the change in our name and symbol to Tekumo Inc., TKMO. We have received first comments from FINRA and continue to expect approval shortly.
Opportunity
We play at the intersection of two rapidly growing marketplaces. The Field Service management market is projected to reach $29.9 billion by 2031, growing at a CAGR of 19.2% (Allied Market Research), and the much broader “Internet of Things” (IoT) that spans manufacturing, housing, retail, energy, and healthcare represents a multi trillion-dollar opportunity.
The Internet of Things “uses a variety of technologies to connect the digital and physical worlds. Physical objects are embedded with sensors—which can monitor things like temperature or motion, or really any change in an environment. The sensors communicate via wired or wireless networks with computing systems that can monitor or manage the health and actions of connected objects and machines” (McKinsey & Company). Tekumo is at the heart of that change.
Our Foundation
We have added to our key “people” factor. Graham King has assumed the role of Chief Operating Officer and brings over four decades of leadership in the services industry, having held C level positions in service companies Tech Data, Avnet, and StorageTek. Adding to our
Industrial and Commercial risk management expertise, Jarret Shearin brings 20 years of commercial insurance and risk mitigation experience.
Together with our CEO - Strings Kozisek, President & CFO - Phillip Dignan, CSO – Chris Nichols, and Chief Software Architect - Jacob Beasley we have a strength of shared vision and shared history. Our previous business ventures in software, managed services, organic material manufacturing, retail and automotive verticals have demonstrated our ability to drive significant revenue and launch new products.
The Next Phase
Tekumo now offers a “whole solution” in that it enables the installation, monitoring and management of connected devices across a diverse set of industries.
Our product suite will continue to expand, and we are excited to incorporate Artificial Intelligence (AI) into our service offering, as well as developing our data and visualization tools further through TekumoIQ.
As stated previously, being a public company is a key element in our growth strategy, as it provides us with greater access to capital to launch our full product offering, enhance our ability to attract additional management talent, and allow us to use our public equity to execute an acquisition strategy. The current Reg A offering provides initial capital of up to $1 million in capital.
Summary
We have accomplished a great deal in the 10 months since our Merger, and recognize that despite the challenges of an early-stage company, the opportunities before us are very exciting. If you are an investor, we are happy you are with us. If you are a customer, we are working hard to provide you with the absolute best. If you are new to us, sit back and watch us grow.
Sincerely,
Strings, Phillip and Chris
Founders
For more details related to the Company, please see the Company's Current Disclosure filed with OTC Markets on May 9, 2023.
Safe Harbor:
Forward-Looking Statements
Any statements made in this press release which are not historical facts contain certain forward-looking statements, as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the Company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the Company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the Company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The Company disclaims any obligation to update the information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
Colorado Springs, CO
Timothy Simpson, Investor Relations
719-900-4535
