Investor Update: December 2024

As the year winds down, this will be my final update for 2024. You’ll see below, SampleServe is poised for significant growth in 2025, with a clear path forward driven by execution and repetition of our strategies. We’re building momentum and turning potential into results. We are closing out the year strong and gearing up for what promises to be an extraordinary year ahead!

KPI Numbers

Our KPI dashboard paints a vivid picture of our growth in 2024 (see below). Samples collected this year (in orange) average over 7 to 8 times more volume than the same period last year (in gray). I’m writing this on Thursday 12-5-24 afternoon so there’s still a day and a half to go before the end of the week. It’s currently our 3rd best week ever. My gut tells me this will end up the best week ever. Our first- and second-best weeks ever occurred the two weeks prior to Thanksgiving. This increase reflects increased adoption, improved onboarding processes, and the expanding footprint of our applications. Review the snapshot of the dashboard below, it’s clear: we’re growing, and the momentum is real and is sustainable.

Eurofins White-Label Partnership Update

Our white-labeled sampling app for Eurofins continues to be a highlight. Several Eurofins clients are actively testing the app. A full rollout decision is expected in first quarter 2025, and based on current feedback, the trajectory looks promising.

Inframark Wastewater Pilot Expansion

The Inframark Atlanta wastewater pilot continues to impress and expansion to the drinking water plants in underway. With 500 more project utilities as the target, this domino effect is the start of what could be a nationwide rollout of SampleServe’s technology.

Long Island Water Conference

The Long Island New York drinking water pilot project is underway. The early response has been encouraging, and assuming continued success, we’re hopeful for a full rollout across the island in 2025.

Demand and Capacity: Scaling to Meet Opportunity

We’ve seen unparalleled interest from trade shows, partnerships, and direct outreach. With just five team members, we’re operating at full capacity. Imagine the scale we could achieve with additional resources. Every day brings new clients, inquiries, and opportunities.

Competitive Advantages

Our patented digital chain-of-custody and integrated lab login systems remain unmatched in the industry. The time savings and cost reductions we deliver, up to 60% for clients, make SampleServe the obvious choice over outdated paper methods.

Looking Ahead The path forward is clear and loaded with opportunity:

• January 2025: Finalizing timing and scheduling for Eurofins’ broader rollout as testing continues successfully.
• Continued Pilots and Rollouts: Progressing with Long Island, Inframark, and other partners to expand implementations and demonstrate the scalability of our solutions.
• Expansion in Environmental Sampling: Launching new revenue-generating features and functionality, including tools for AI-driven predictive analytics, integrated contractor bidding, a streamlined “Amazon-like” one-click platform for ordering supplies and equipment, and a screen recording feature for post-sampling audits and validation to ensure adherence to standard operating procedures (SOPs) and compliance.

Closing Notes

We’ve secured $300K of a $1.5M equity round at a $7.8M pre-money valuation. With significant contracts on the horizon, our valuation will undoubtedly rise, and the potential for rapid growth is enormous.

If you want more insights or access to our data room, just reach out. As always, if you’d like to opt out of updates, reply with “Remove Me”, no hard feelings!

Thank you for your continued support as we revolutionize environmental sampling and reporting.

Did you know that the cannabis industry is rapidly expanding in the USA? With more states legalizing, there's an increased demand for sampling and testing. That's where SampleServe comes in! SampleServe specializes in digital solutions for sampling and reporting software in environmental, health, and safety industries. SampleServe has teamed up with a cannabis laboratory Enviro Lab Services (who also use our environmental and drinking water platforms) to develop a fast and cost-effective solution for sampling and reporting on cannabis products. With four in-market products already, SampleServe also plans to be the industry standard for all cannabis sampling needs! 

Environmental monitoring projects are essential to ensuring the safety and sustainability of our environment. However, the final report is often the most expensive aspect of these projects, with the industry currently bottlenecked by complex and costly software. This means that only one or two specialists in an environmental firm can produce the graphics for these reports, regardless of how many samples were taken or how many projects are being worked on.

This bottlenecking of the environmental reporting process can severely hinder the industry's ability to quickly identify problems and initiate the cleanup process, leading to delays and increased costs for the consulting firm and property owners, ultimately impacting all of us.

SampleServe offers a solution that democratizes the environmental reporting process. It’s a user-friendly software that can be learned in just two hours and is robust enough to match the quality and accuracy of specialty GIS or Auto-CAD users. This means that anyone in an environmental firm can produce these reports, freeing up specialized staff to focus on other critical tasks.

By utilizing SampleServe, firms can complete more projects in less time, saving significant costs for the consulting firm, property owners, and the public. The democratization of the environmental reporting process will result in more efficient and effective project management, allowing us to address environmental issues in a timely and cost-effective manner.

Are you concerned about the environmental impact of contaminants in your community or property? The good news is that you're not alone.

However, the environmental industry still heavily relies on outdated and expensive legacy software. This bottlenecks valuable information, which can make it challenging for property owners and governmental regulators to determine where contaminates are, and in what direction they are headed.

This is where SampleServe comes in. We offer a solution to these data bottlenecks by starting data collection digitally, and saving time on every category of work from sample collection to the final regulatory report. This saves significant costs when investigating contaminated areas, allowing more money to be spent on the actual clean-up process.

Our digital platform provides a fast and cost-effective way to get the job done. With SampleServe, you can collect data and track the movement of contaminates with greater accuracy and speed than ever before. This is particularly important in today's rapidly changing environment, where time is of the essence in responding to environmental issues.

The benefits of our digital solution are clear. By investing in SampleServe, you'll be joining the environmental digital revolution, which is making a real difference in how we clean up our planet.

If you're interested in supporting our mission, we invite you to invest today on America's #1 crowdfunding platform, StartEngine. Your investment in SampleServe will not only help us improve our platform but will also help us expand our reach and make a significant impact on the environment.

Together, let's make a difference and revolutionize the way we manage environmental contaminants. Join SampleServe today and be a part of the solution. #environment #digitalrevolution #SampleServe #StartEngine

Traditionally, sewer systems have been viewed as simply a means of collecting and transporting wastewater. However, recent advances in technology and the increasing importance of data analysis have led to a shift in perspective. Sewer systems are now seen as valuable sources of information about the populations they serve. By monitoring the wastewater flowing through these systems, scientists can gain insights into the health and behavior of entire communities.

One major application of this technology is in disease surveillance. Wastewater can provide an early warning of outbreaks of communicable diseases, including COVID-19. By analyzing samples of wastewater for the presence of viral particles, scientists can detect the spread of the disease before individuals start showing symptoms. This can help public health officials take action to prevent further spread of the disease.

To facilitate this new method of community monitoring, SampleServe and ShieldT3 have partnered to develop a digital sample collection program. Now, SampleServe's SampleSWR application is being used every day to collect wastewater samples and monitor whole communities. One of the key benefits of using sewer systems as a source of data is that they provide a more accurate picture of a population than traditional methods. Since wastewater reflects the behavior and health of an entire community, it can reveal trends and patterns that might be missed by other methods.

The rise of big data in sewer systems is a testament to the growing importance of data analysis in our society. Sewer systems have long been an underutilized resource, but now they are becoming powerful tools for gathering information about populations and informing decisions. By tracking the location and shipping chain of custody of samples, SampleServe is ensuring the accuracy and integrity of the data collected.

As technology continues to advance, we can expect to see even more innovative applications of big data in sewer systems in the future. By harnessing the power of data, we can gain a deeper understanding of the health and behavior of entire communities, and use that knowledge to improve public health outcomes.

Please take a moment to learn more about Shield T3's Wastewater Testing Program:

In October 2022, SampleServe advanced to the semi-finalist round of Pepperdine University’s” Most Fundable Companies” competition. SampleServe was one of 70 semi-finalists chosen from over 4,300 applicants. We did not make it to the top-16 list, however we were honored to make it as far as we did.

Thank you to the Pepperdine University Most Fundable judges for the opportunity and with the progress we’ve been making in the last few months, we will see you in the winner’s circle next year!

Join me, Russell Schindler, Thursday, February 9th at 1:00 PM ET for a short live presentation about SampleServe and our current crowdfunding raise on the Start Engine Platform.

SampleServe is changing the Environmental Industry for the better and we're disrupting a 40-Billion-dollar industry with technology that makes sense.

In this 20-min presentation, I’ll provide a short overview of our 4 distinctive products and the impact these products are making in those markets. We’ll also provide updates on the status of our channel partners, cannabis sampling platform development, and other software features and improvements.

I look forward to speaking to you and answering your questions.

Thanks for considering investment in SampleServe!

Watch on LinkedIn: https://www.linkedin.com/feed/update/urn:li:activity:7028477675245641728

Watch on Youtube: https://youtube.com/live/_7MXrl3GeaE

Join Russell Schindler, Professional Geologist and founder of SampleServe for an insight on how SampleServe is changing the Environmental Industry for the better. 

We're disrupting a 40 Billion dollar industry with technology that makes sense. With Decades of experience in the field, Russell will take you through our four in market software solutions and how SampleServes digital platforms can cut up 60% of the time and costs on regulatory sampling and reporting. Now is a perfect time to ask any questions! 

What We're Covering: 

SampleServes four in Market Platforms:
- SampleEnv (For high volume environmental sampling and reporting by professionals)
- SampleLOG (Laboratory sample receiving platform)
- SampleH2O (Drinking water sampling and reporting)
- SampleSWR (Covid/Flu Waste Water Application)

Updates: 

- Channel Partners
- Cannabis Sampling Integration
- App Improvements
- Sample Count Update
- The Future of the Market

Register on LinkedIn HERE

Hello!

I'm Russell Schindler, CEO and founder of SampleServe. I may be dating myself, but when I started working in the environmental industry, the fax machine was just becoming standard office equipment. They were slow, used thermal paper that came on a roll, and you had to cut the paper into the right size yourself.

The Fax Machine - Circa 1990 paper was difficult to work with as it wanted to roll back up on itself. When we needed results from a laboratory in a hurry, we would ask them to "fax it over." We would have to re-type the data ourselves into whatever format we wanted it in. Tables I worked on back then were mostly rudimentary tables constructed in a software called "WordPerfect".

I spent hours and hours re-typing data from paper to a computer only to print it back out on paper again. It was a good thing both I and my employer were getting paid by the hour.

It was around the time that e-mail became mainstream in the late 1990s to early 2000s that the laboratories started giving you the option of having your data delivered via fax machine or e-mail, but it was still just a pdf. It wasn't until the early to mid-2000s that most labs started giving you the option of having your data delivered as an Excel file. These alternative data deliverable options however were driven by customer demand, not necessarily lab initiatives.

When the Excel data deliverable became more main stream, the "getting paid to re-type data" went away as well. Think of the hundreds of millions of dollars saved collectively across the country over the years by end-user environmental clients by simply not having to re-type data because the data table could be delivered digitally. Seems like a small thing now, but it was a huge savings overall. Laboratories that embraced the e-mail data delivery early on, gave themselves a competitive advantage over late adopters of the digital data delivery method. Although this new method cut into the billable hours of the engineering consulting firms, it ultimately made them more competitive in the eyes of their end-user clients.

The disheartening thing is that it's been roughly 19 years since the first digital data delivery via e-mail and that's where the technology largely stands today. Granted, most labs will customize an Excel file to their client's exact specifications, but it's still just a fraction of what the end user client needs as their final data deliverable.

The end user client (the regulated oil companies, manufacturing firms, property owners, etc.) and the regulators need full reports, full color reports with all the graphs, maps, contours and data tables.

Data Box Maps, Contour & Iso-Chemical Maps, Graphs, Tables, etc..completed, well beyond the Excel table. I've often wondered why labs haven't gotten out in front of this obvious need before. Labs are for the most part the originators of the data. 7 of the biggest 10 companies in the world right now are data companies. 20 years ago, it was zero. Data delivered in a directly usable and understandable format is the modern-day gold rush.

The future is a scenario where the laboratory is providing the mechanism for the client to get all those required full color reports as an electronic deliverable. It's the next logical technological progression in data deliverables.

I've had conversations with numerous laboratories about taking the next step, as SampleServe's software has been developed for just this purpose.

The resistance to this concept is evolving, initially the typical response I heard was, "The consulting engineering firms will perceive that we are competing with them and might not use us anymore." I could understand this initial reaction, but it doesn't stand up to the history of technological advancements. If a technology delivers a comparable product, saves time, and saves money, it will ultimately win in the market place. The most common reaction now is "Of course, makes sense. When can we get started?"

The situation is similar to the days when Excel files were first delivered. I personally remember making the decision not to use a particular lab because they couldn't deliver data as an Excel file. A lab wouldn't even consider not delivering data via Excel these days. No one would use them.

There will be a day in the very near future when delivering data means delivering the data in as many formats and fashions as the client can think of. Not being able to do so will mean not getting the business.

I'm Russell Schindler, I'm a Geologist, and I've been doing environmental work for 35-years. I'm also the CEO of SampleServe.

I started SampleServe in 2001 as a “sampling as a service” company right after the state of Michigan changed its rules on how to collect environmental groundwater samples. The rule change basically required more time and more data collection. It also involved specialized meters and pumps, and the industry was initially confused about the process of collecting these samples.

By around 2011 or so, SampleServe was collecting samples on projects all over the country. It was around that time, I was meeting with a certain large national consulting engineering company, trying to convince them to hire us to do their sampling. In my pitch to the company, I talked about the quality of our sampling, the meters that we used, our safety standards, our quality control measures, and, as an added value, I showed them our basic reporting software.

You see, back then if you hired us to do the sampling you could use our reporting software included at no cost. We had all the data digitally, and we used a lot of it to make our sampling processes more efficient. We decided, as a value add to our sampling services, we would let users create their needed tables, graphs, and even basic data box maps. It’s not nearly as good as it is now, but it sure was advanced for the time. At the end of the meeting, the company’s office manager said, “Look Russ, we like to do our own sampling, that's how we make money. But your software is very cool, is there any way we could just use your software?” My response at the time was, “No. I’m not a software company”.  So, they said “Thanks anyway. If you change your mind on the software, let us know”.  

It occurred to me, as I was walking out of that building with zero business from that client, that maybe I should let them use the software. At least I’d be getting some revenue from them. The thing is, back then I never really thought of myself as a software company, even though obviously many of our customers saw significant value from it. It was at that point, while walking through that parking lot back to my car, that SampleServe started its journey from a “sampling as a service” company to a “software as a service” company.

It took us about a year before we could let individuals use the software as a stand-alone product. We had to reconfigure the database and access so that outside users couldn't see other outside users’ projects or data. Back then we were bootstrapping the software development, we could only afford a couple thousand dollars per month in development costs and if you know software development, that’s not much, even for back then.  

It was late 2018 that we started raising outside investment. This is when we were able to accelerate our software development and build our mobile applications. In the middle of 2022, we sold the sampling side of our business. We continued in the physical sampling business, although the volume of physical sampling was reduced dramatically after 2018. We continued to sample because the sampling was basically our own internal research and development department. We would use the early versions of our own software mobile applications and we would be able to be our own beta testers. I think it's because we basically grew up as a company in the sampling business, is why our software is significantly useful to the field samplers. I was one of those guys out there collecting samples nearly every day, so I understood all the pain points and subtleties of sampling and tracking the data. Our biggest fans of our product to date are the field technicians.

Background on the Industry

Most people don't know this, but the number one source of groundwater pollution in the United States is your typical corner gas station. There are other types of groundwater pollution out there from manufacturing firms, pipelines, refineries, your dry cleaner and even a home heating fuel tank. Each one of these sites of contamination is required by law to do an investigation to determine the extent of contamination, and then, if necessary, conduct a clean-up.

With approximately 150-million environmental samples collected every year, environmental professionals spend about 40% of their time turning sample collection data into actionable graphical maps and images. You would think that the environmental industry, an industry founded in science and technology, would be using the latest and greatest technologies for collecting samples and generating reports. Well, they're not, in fact, they’re still doing work the way they did back in the 80s.

Using the SampleServe platform, each step in the sample collection process is captured and digitized, which means, those same maps and images that would take days or even weeks, can now be completed in just a matter of seconds.

Oil companies and owners of properties with ongoing contamination projects typically have a set budget every year for conducting investigations, doing the required monitoring, and performing the needed clean-ups. By using the SampleServe platform, we can save contaminated property owners a significant part of their budget. Money that would normally be spent on inefficient sample collection and wasteful sampling and reporting methods, is now able to be spent on actually doing the clean-up.