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2023: 4M Analytics Year in Review
Welcome to 2024! Looking back, it's astounding to see the evolution in the utility risk mitigation industry, and we're proud to have contributed to this progress. Being the first fully remote Utility AI Mapping and Analytics Solution “with no field visit’, we are honored to help transform the way civil engineers, general contractors, and project owners undertake utility investigation, utility coordination, and utility data management - ensuring the continuity of all critical infrastructure and services people rely on daily.
It feels like just yesterday when we embarked on the journey of mapping our first set of utility lines in the middle of 2020. Yet, standing here today, we've evolved into a robust team of 100 members (and counting!), having successfully mapped thousands of miles of utilities across America.
The year 2023 marked a milestone for 4M that set it apart from any other. Our Utility AI Mapping and Analytics Solution not only expanded its capabilities but also left a tangible impact on the lives of the resilient workers who tirelessly ensure the continuity of our nation's critical infrastructure and services. With each progression in our solution, new possibilities, efficiencies, and avenues to support these dedicated individuals emerged, further contributing to the seamless functioning of our great country.
Our team led the year by facing challenges head-on, turning obstacles into opportunities, and continuously striving for excellence in a market that never stands still. Notably, when war broke out in Israel, our team showed incredible resilience, adapting and thriving in the face of adversity.
Our journey thus far has been incredible, and it's all thanks to our dedicated team, amazing customers, and valued partners. Your trust in us has been the cornerstone of our success. So, as we step into a new year filled with promise and potential, we thank you. You're not just part of our story; you're the heart of it.
Before we turn the page to 2024, let's take a moment to celebrate our significant milestones and achievements.
- Made Significant Progress on Our Early Journey to $10M: Thanks to the support of our 45 customers, including 4 DOTs. This achievement comprises over 200 completed projects, contributing significantly to our total revenue.
- Secured $30 Million Investment in Challenging Market Landscape: This financial backing is strategically allocated to bolster our expansion and growth during the go-to-market phase.
- Amplified Customer Expansions: Almost 30% of all bookings came from expansion deals from existing clients, reaffirming the immense value that our customers derive from our product.
- Grew Team to 100 Employees: Over the year, we've grown and strengthened our team, and we're proud to have reached a milestone of 100 employees; out of them, we hired 20 employees in the US. These individuals are not just the backbone of our company; they are the driving force behind our mission.
- Opened Austin Office: Kicking off the year, we opened a new office headquartered in Austin, Texas, serving as a significant step in our expansion into the US market.
- Drove Strategic Initiatives: 4M played an active role in mapping crucial sections for California's Middle-Mile Broadband Initiative. Our contribution to this project highlights our commitment to enhancing and strengthening the nation's vital infrastructure.
- Expanded Mapping Coverage Across America: We have successfully created a comprehensive digital ready-to-use map of utilities for seven states: Washington, California, Texas, Colorado, Florida, Georgia, and New York, with the option to order projects on demand for any state in the US.
- Achieved Significant Mapping Milestones: We mapped and delivered 439 miles of projects, representing the mapping of 2,500 miles of utility lines, which included 286 abandoned pipelines previously undocumented in existing records.
New Product Capabilities, Workflows, & Technical Advancements
We released over 30 new capabilities and workflows, each designed with a laser focus on making our users' utility mapping experience more intuitive and efficient.
- Utility Insights: 4M users get instant access to utility insights and attributes whenever they create a project and draw a polygon. From public records, they can see the utility owner, sector, line length, and more. Users can purchase our Standard or Advanced data package for more accurate and specific insights and attributes.
- GIS Files, CAD or PDF Exports: 4M users who order Standard or Advanced data can effortlessly download and export their GIS project files directly from 4M, enabling immediate utilization of the project file for commercial proposals, planning, or design work.
- 4M Self-Pay: 4M Analytics Self-Pay makes it easy for new customers to create their first project and buy their data online. First-time customers can create a project, enter their credit card information online, and order the data they need for their project.
- Preliminary Data in Real-time (Early Access): Preliminary Real-time Data provides immediate access to preliminary utility data, including specific utility lines and detailed utility information, for every new project outlined and created in 4M. This feature allows users to instantly see specific utility lines and access utility details and attributes on their map without any wait time.
Key Technical and AI Advancements
- AI-based engineering records geotagging: The ability to classify and tag a document, such as blueprints, PDFs, and engineering records, to a specific location.
- Learning Language Model Utility Data Segmentation: The orchestration and activation of language models to effectively classify, organize, and filter information sourced from servers at federal, state, county, and municipality levels.
- Public Records Classifier 2.0: A machine learning Geo-server classification engine excels at scanning geo-layers on a remote server, precisely categorizing them by relevance and sector in order to prepare them for seamless integration into 4M platform.
- Vertical and horizontal Object detection: Automatically identifying and categorizing utility objects, such as manholes, poles, and electricity infrastructure, using satellite and dash cam data, both in an automated manner and on-demand.
- 4M Fusion Engine: Compile, cross-check, validate, and augment information from GIS data, visual objects, and metadata to ensure the creation of a reliable and up-to-date map.
What’s Next for 2024?
While we're proud of everything we accomplished last year, we've only scratched the surface of the “subsurface.”
As we enter the new year, we aim to continue delivering a world-class product and user experience that exceeds our customers' expectations. Here’s a little glimpse into what we have up our sleeve for 2024:
- Map 20 States: Expand our pre-mapped coverage to include 20 additional states, offering real-time, preliminary data for immediate access to detailed utility line locations and attributes.
- Connect Office to Field: Introduce a new field application to seamlessly connect office and field operations, ensuring constant data sharing and keeping all project information current throughout the construction lifecycle.
- Public Sector Initiative: Launch a tailored solution for municipalities and DOTs, focusing on linear construction projects. This solution will provide easy access to accurate utility data, streamline vendor interactions, and reduce manual effort and delays, optimizing resource utilization.
- And much more…
Together with our customers, partners, and dedicated team, we look forward to another exciting year of innovation and growth.