PicPocket-Labs, Inc. Company Profile

Background

PicPocket-Labs, Inc. is a technology company specializing in geofencing and location-based IT solutions. The company's mission is to pioneer innovative applications of geofencing technology across various sectors, including enterprise, government, and consumer markets. By leveraging its proprietary geofencing technologies, PicPocket-Labs aims to enhance media capture, data collection, and targeted advertising, thereby transforming how businesses and individuals interact with location-based services.

Key Strategic Focus

PicPocket-Labs concentrates on developing and deploying geofencing-based solutions that cater to a diverse range of applications:

Drone-on-Demand Services: The company has developed patented systems that enable users to request, dispatch, and navigate drones within geofenced areas for autonomous or semi-autonomous media and data collection. This technology is applicable in sectors such as insurance, first-responder networks, agriculture, infrastructure inspection, and live events.

Targeted Advertising and Custom Media Creation: PicPocket-Labs has patented methods for location and event-based targeted advertising, utilizing geofencing to deliver relevant mobile advertisements and custom media templates (geofilters and stickers) to users within specific geographic and temporal parameters.

Media Authentication for Real Estate and Underwriting: The company offers geofencing-based media authentication solutions aimed at verifying the authenticity and relevance of images used in real estate appraisals, commercial underwriting, and home and building inspections.

Dynamic Geofencing: PicPocket-Labs has developed technologies for dynamic or adaptive geofencing, allowing for the establishment and maintenance of geofences that accommodate moving targets or changing geographic areas over time. This is particularly useful in applications involving mobile subjects or objects.

Financials and Funding

As of the latest available data, PicPocket-Labs has an estimated annual revenue of approximately $957,000, with a revenue per employee of $87,000. The company employs 11 individuals, reflecting a slight decrease in employee count by 8% over the past year. Specific details regarding funding history, total funds raised, and notable investors are not publicly disclosed.

Pipeline Development

PicPocket-Labs has been actively expanding its intellectual property portfolio to support its strategic initiatives:

Drone-Based Systems: The company was awarded a patent for "Drone Based Systems and Methodologies for Capturing Images," enabling on-demand drone services for media and data collection within geofenced areas.

Targeted Advertising: A patent was granted for "Geofencing of Obvious Geographic Locations and Events," focusing on location/event-based targeted advertising and custom media creation.

Media Authentication: The company received a patent for "Systems and Methodologies for Validating the Correspondence Between an Image and an Asset," aimed at real estate appraisals and commercial underwriting.

Dynamic Geofencing: A patent was awarded for the use of dynamic geofences to control media sharing and aggregation associated with mobile targets.

These developments indicate a robust pipeline focused on enhancing geofencing applications across various industries.

Technological Platform and Innovation

PicPocket-Labs' technological platform is distinguished by several proprietary technologies and innovative methodologies:

Geofencing Technology: The company's core competency lies in its advanced geofencing capabilities, enabling precise location-based services and applications.

Drone Integration: Patented systems for drone navigation and control within geofenced areas facilitate autonomous and semi-autonomous media and data collection.

Targeted Advertising Solutions: Utilizing geofencing, the company delivers location and event-specific advertisements and custom media content to users, enhancing engagement and relevance.

Media Authentication Systems: Geofencing-based solutions verify the authenticity and relevance of media used in critical applications like real estate appraisals and insurance underwriting.

These technologies collectively position PicPocket-Labs as a leader in geofencing applications, offering innovative solutions across multiple sectors.

Leadership Team

PicPocket-Labs' leadership team comprises experienced professionals with diverse backgrounds:

Wolfram K. Gauglitz: Founder and CEO, leading the company's strategic vision and technological innovation.

Michael Petersen: Appointed as Chief Technology Officer in December 2020, Michael brings over 20 years of experience in software development, architecture, and product management, with previous roles at Bitcentral, Reuters, and Microsoft.

Joshua LeBeau: Vice President of Development, overseeing the company's development initiatives.

Haden Judd: Mobile Developer, contributing to the development of mobile applications.

The leadership team is instrumental in driving PicPocket-Labs' growth and innovation in geofencing technologies.

Leadership Changes

In December 2020, Michael Petersen joined PicPocket-Labs as Chief Technology Officer, bringing extensive experience in cloud architecture and API strategies to the company.

Competitor Profile

Market Insights and Dynamics

The geofencing and location-based services market is experiencing significant growth, driven by increasing demand for targeted advertising, enhanced data collection methods, and improved customer engagement strategies. The integration of geofencing with emerging technologies like drones and augmented reality further expands its applications across various industries.

Competitor Analysis

PicPocket-Labs operates in a competitive landscape with several notable players:

Coin: Based in Austin, TX, with an estimated revenue of $8 million and 11 employees.

Caringo: Also located in Austin, TX, with an estimated revenue of $400,000 and 11 employees.

BuzzStream: Operating in Austin, TX, with an estimated revenue of $1 million and 11 employees.

RealSavvy: Based in Austin, TX, with an estimated revenue of $400,000 and 11 employees.

WebWorks - Quad...: Located in Austin, TX, with an estimated revenue of $1 million and 11 employees.

These competitors offer various tech services, contributing to the dynamic and evolving nature of the industry.

Strategic Collaborations and Partnerships

PicPocket-Labs has engaged in strategic collaborations to enhance its market position:

Stories.inc: In November 2020, the company announced the launch of its wholly-owned subsidiary, Stories.inc, and the Stories.app, incorporating event-specific features and geo-livestreaming capabilities leveraging its core geofencing IP.

Board of Advisors: In August 2017, PicPocket-Labs appointed Erin Patton, former NIKE Global Director of the Jordan brand, to its Board of Advisors, bringing expertise in sports branding and marketing.

These partnerships and appointments aim to strengthen the company's innovation capacity and expand its capabilities in the geofencing and location-based services market.

Operational Insights

PicPocket-Labs' strategic considerations include:

Market Position: Leveraging its proprietary geofencing technologies to offer unique solutions in media capture, data collection, and targeted advertising.

Competitive Advantages: A robust patent portfolio, dynamic geofencing capabilities, and integration with emerging technologies like drones and augmented reality.

Distinct Differentiators: Focus on dynamic and adaptive geofencing, enabling applications involving moving targets and changing geographic areas.

These operational strategies position PicPocket-Labs to effectively compete and innovate within the geofencing and location-based services industry.

Strategic Opportunities and Future Directions

Looking ahead, PicPocket-Labs aims to:

Expand Geofencing Applications: Continue developing solutions that integrate geofencing with emerging technologies to address evolving market needs.

Enhance Technological Platforms: Invest in research and development to strengthen its technological offerings and maintain a competitive edge.

Forge Strategic Partnerships: Collaborate with industry leaders to broaden market reach and enhance service offerings.

By capitalizing on its current strengths and exploring new opportunities, PicPocket-Labs is well-positioned to achieve its future objectives in the geofencing and location-based services.