- Developing a SaaS-based ecosystem with a portfolio of intellectual property to enable consumers and businesses to thrive in the remote economy.
- Lead platform iAgent is a CRM and customer acquisition application designed for small-to-medium enterprises
- Expects to start generating revenue by 3Q 2021 as it looks to commercialize iAgent across multiple billion-dollar industries
What Xigem Technologies does:
Xigem Technologies Corporation (CSE:XIGM) powers technology for the remote economy paradigm that businesses around the globe are embracing in a post-coronavirus pandemic economy.
The Toronto-based company’s Software-as-a-Service (SaaS) technology platform, iAgent, provides organizations, businesses and consumers with the tools necessary to support remote working, learning and treatment environments.
iAgent can be tailored for businesses across a diversified range of sectors to enable them to remotely track and manage assets (both human and physical), transactions, fulfillment, and service cycles while seamlessly integrating with most CRM and ERP systems to profitably optimize the consumer, treatment seeker, and learning experience.
Xigem is marketing iAgent at a time when ecommerce, remote work, learning, and treatment is changing the face of the global economy. Nearly 70% of the American workforce is positioned to work remotely at least five days each month by 2025. By 2028, estimates say that 73% of all departments will have remote workers, with 33% of full-time employees working remotely.
Xigem’s strategy is to acquire and aggregate an ecosystem of technologies and enterprises to market to the healthcare, education, financial services, retail, transportation, logistics and non-profit sectors – either through the wholesale or partial acquisition of what it deems “complementary” technologies.
The firm’s leadership team, including CEO Brian Kalish and a group of seasoned entrepreneurs, took the company public on the Canadian Securities Exchange in March 2021.
With a comprehensive cloud-based platform, Xigem’s focus is on synchronizing business practice and management productivity, providing virtual, face-to-face interactions instantly anywhere in the world.
How is it doing:
Since the company’s listing earlier this year, Xigem has put out a steady stream of positive news. Most of that has revolved around acquisitions, which has kept Xigem busy in the past few months.
In May, the company hailed its entry into the fast-growing fintech sector, signing a letter of intent with FOOi Inc to acquire a commercialized, SaaS cloud-based, and peer-to-peer payment application called FOOi in a $500,000 deal.
FOOi is a mobile app that was built to facilitate digital payments and was successfully commercialized, having processed transactions for tens of thousands of users. Quick and secure peer-to-peer and peer-to-business financial transactions allow users to "share money in the moment," said the company.
Another big acquisition came in April via a deal with Israel-based Alperton Ltd, which does business as Shipit.to, to acquire a 21% interest in the digital logistics platform for US$1.1 million in a stock-and-cash deal.
Shipit.to is a cost-effective shipment-tracking solution providing real-time information about the location and condition of goods being shipped around the world. Based on privately-owned Shipit.to’s low-cost disposable trackers and artificial intelligence-based software, the Shipit.to solution offers an economical way for businesses to monitor shipments as they work their way through the supply chain to end consumers.
As for its flagship platform iAgent, Xigem has been busy signing new clients and fortifying existing relationships. The firm signed a letter of intent to enhance iAgent for Insurance Supermarket Inc (ISI) and will work with ISI to further position its insurance technology initiatives in the fast-evolving North American insurance market.
Under the LOI, once the custom development work is successfully completed, Xigem said it will license the iAgent platform to ISI on a SaaS basis for a recurring monthly licensing fee.
It has also inked an iAgent deal with FluBusters Inc, a commercial-grade pathogen prevention and decontamination service provider, to help manage inbound customer inquiries, match them to available personnel, track the availability of teams and equipment and optimize deployments. Under the terms of the deal, signed back in October, the company will license iAgent to FluBusters for a recurring monthly licensing fee.
Another deal came in April with commercial bakery Baketree Inc to develop a cloud-based technology platform based on Xigem’s iAgent software.
More recently, Xigem launched an “out of the box” version of iAgent that will help it expand the platform’s addressable market.
And, to the joy of shareholders, the company said it expects to begin recognizing revenue by 3Q 2021 as it looks to commercialize iAgent across multiple billion-dollar industries.
Xigem ended its first quarter as a public company with C$1.9 million in cash as of March 31, 2021.
Inflection points:
- Likely revenue from licensing fees thanks to FluBusters and ISI
- Further acquisitions and partnerships in the healthcare, education, financial services, retail, transportation, logistics and non-profit sectors
- Growing opportunities as businesses adopt remote work practices internationally
- Widening investor base and shareholder diversity through extensive capital markets outreach campaign
What the boss says:
"We are pleased with our early momentum since becoming a publicly-traded company,” Xigem CEO Brian Kalish said in a statement recently.
“In less than three months, Xigem is on its way to establishing a presence in multiple, high-growth industry verticals. The common theme of the last few months has been an attempt to leverage the broad applicability of our technology for businesses and consumers as they navigate the ever-evolving opportunities within the rapidly-growing remote economy.”
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas