UK VSaaS Startup Ocucon

By: Sean Patton, Published on Jul 03, 2018

Decreasing exposure to fraudulent slip-and-fall insurance claims and lawsuits is one of the oldest selling points of video surveillance for retail. Providing video evidence of an incident that happened 4-6 months prior is a challenge for traditional NVR-based solutions.

VSaaS systems, with no-limit cloud-based storage, offer a solution to that challenge.

In this note we profile Ocucon, a UK-based VSaaS startup, who is selling the ability to "See Everything Know Everything", and actively marketing the retail vertical, based on a conversation with the CTO, examining:

  • Company Overview
  • Platform Overview
  • Developed for Retail
  • Face Redaction / GDPR Impact
  • Bundled Internet
  • Pricing
  • Competitors
  • Channel Partners
  • Challenges to US Expansion
  • Growth Plan
  • Outlook

********** ******** ** ********** slip-and-fall ********* ****** *** lawsuits ** *** ** the ****** ******* ****** of ***** ************ *** retail. ********* ***** ******** of ** ******** **** happened *-* ****** ***** is * ********* *** traditional ***-***** *********.

***** *******, **** **-***** cloud-based *******, ***** * solution ** **** *********.

** **** **** ** profile ******, * **-***** ***** startup, *** ** ******* the ******* ** "*** Everything **** **********", *** actively ********* *** ****** vertical, ***** ** * conversation **** *** ***, examining:

  • ******* ********
  • ******** ********
  • ********* *** ******
  • **** ********* / **** Impact
  • ******* ********
  • *******
  • ***********
  • ******* ********
  • ********** ** ** *********
  • ****** ****
  • *******

[***************]

Company ********

****** *** ******* ** 2015, ** *********, **, by **** ******* [**** no ****** *********] *** development ** ***** *** by *** *** ******* Purvis [**** ** ****** available]. **********, ******* **-******* Ocucon's ****** *******, * security *********** *********** **********. ****** *** * background ** ******** *** investing ** ******** ******** development *****.

***** ******** *** ********** launched ** *** **** of **** *** ** 100% ********* ******. **** said **** *** *** planning *** *** ******* VC ***********, ********* ******* growth **** *** **** few *****.

**** ****** ** ****** staff *** **** **** hire *-** ******** ********* as *********** ************ ********.

Platform ********

*** ****** ******** ****** a *** ****** ** view ******** *****, ****** and **** ********/******** ******, **** automated **** ********* *** redaction.

****** **** *** **** cameras *** ********, ********, or ***** ************-******* ********. The ******'* ******** ************ consists ** ** **-******* appliance ****** ********** ** their ***** ***** *******. The ********* ****** **** provides ********* ***** ******* in **** ** ** Internet ******.

***** ******** ******** ******** to *****-********* ** ******* and ******** ** **** streams, **** ** *** support ****** ****** *********** to *** *******. **** said *** ******* ****** stream ***** ****** ******** is **** ** ***** and *-****, *** ***** it ******** ** ***** at *** ***** ****.

****** **** ***** ******** setups *** ********* ********** to ****** ********** *****, but *** ********* ************* can ** ******** (********** during ******** *****, ** motion ** ********** *** lower ***** ***** ***** hours).

Face ********* / **** ******

****** ********* ********, ***** ******** **** recognition using ****** **** ********************, ******** *** **** to ****** *** ** many ***** ** * video **** *** **********. They **** **** *** not ********* ** ************ of **** ********, *** general ***** ********* ******* concerns ** ***** ****** customers.

**** *** *** ******* a **** **** ** it's **** ********* ************, but ** * ***** software ****, *** ****** detected ***** ****. *******, it *** * ***** video ****, **** * low ***** ***-************ ******, with * ****** **** of *** *****.

**** ** *** ***** manual ********/********* ************ *** claimed ** *** ******* in *********** *** ****** be ******** ** ************* 1 *****. ******* ********* *************.

Developed *** ******

****** **** *** ******* reason *** *********** ** their ******** *** * retail ******** ********* * solution *** ****-**** ********* of ***** (*-* ******) for ********* ********** ******* slip-and-fall ********. **** ***** that **** ********* ***** be ************* ********* ** storing ** ***** * months ** *****. **** also **** *** **** that ****** *** ***** of ********** ********* ******** the ********** ***** *** decreases ***** ****.

**** **** ***** ******* in *** ** ****** market, *** *** ******* to ****** ** ** retail ******, ******** ** the **** **** **** small ****** ********* ** the ** *** ** 10x ****** **** * top ******** ** *** UK.

****** **** **** ********* **** a * ***** ***** with *** ** *** largest ********* ** *** US (****** ****** ********* do ****** **** **** startups **** ** *** turn **** ********** ********).

**** **** **** * retail ******* ************ ** their *******:********(*** ***** *********) ********(****** **** *********).

Service ******* **** ********

*** ******* *************** ****** to ******'* ***** ***** is ******** ** * 200Mbps **** (******* ** supporting *****) ********* *** the ***** ********* ** the ***** ******** **** the ***** ***** ******* service, *** **** ********* service.

**** ******** ******* ********* also **** ******* *** cloud ******* *** *********** and ***** ******** *********, but ****** ** ********* larger ********** ****** ****.

Pricing **** **** *******

*** ****** *** ***** price ************** **** ****  ~$65 *** *** ****** for ** ******* *** 6 ****** ** ********* to ~$** *** *** camera *** *** ******* with * ****** ** retention. ***** *** ** resolution ** ***** **** limits, *** ******* **** vary *** ***** ***** on *** **** ***** of ***** **** ** recorded *** ***.

********* ******'* ******* **** competitors ** ********* ******* they *** ******** *** cost ** * ********* Internet ********** *** *** cameras. **** ** *********** unnecessary *** ****** ****** out ** *** ***** business ******, *** ** the ***** ****** ************, they ***** **** *** targeting, ********* **** ** a ***** **** ***** be **** ** ** advantage.

***** ******** ******* ** included **** *** **** video ********* ******* *** is **** **** ********** for ~$* *** *** minute ** ***** ******** and ********.

***********

****** **** *** *********** integrating **** *** ******** because **** ***'* ******* true *** ************. **** claim **** *** ******* they **** *** *** treating **** ** ***********. This ********* ***** ** the **** *** ************* like ***** *** *******, as **** **** *****-***** long-term ******* ********* *** are ************* ****** ** retail.

****** ** ********* **** multiple ****** ***** ******* in *** ****** ***** surveillance ******:

  • ***** *******:********,********,*****, ***
  • *********** ***** ******** ********** firms: ***, ***, *********, etc
  • ********** *** *********

Channel ********

****** ** **** ** the ** ******* * small ***** ** ******* partners.

** *** **, **** have ****** ********* ***-***** ******** ******** integrator, *** * ******* security ********** *** *******. Ocucon **** ****** **** also ** ********* **** 1 *** * **** support *** **-***** ******** and *********, **** **** 3 ***** ******** *** of *** **. **** said **** *** ******** on ******* ** ********** similar ***-***** ******** *** national *********** ** *** US.

Challenges ** ********* ** *** **

***** **** ** ******* 200Mbps ******* ************ ************ within *** ** ** going ** ** * major ********* *** ********** compared ** *** ** market. ******** ******* ** rural ***** (***** ******** are *******) ** ********* limited ** * ** possibly * *********. **** state **** **** *-* major *********. ********** ***** logistics *** ********* ********** will ** * ******** aspect ** **** *** successful.

**** **** **** **** to **** *** ***** Channel ********, **** * sales *** *********** ***** that ** **** ** adapt ** * ********* model **** *********** ***/*** based *********.

Aggressive ****** *******

****** **** **** **** aggressive ******* *** ****** over *** **** * years *** *** ******** on ********* ** ****** security *********** *** ******* on-premise ****** ** ***** software. *** ** *** main ****** **** **** was ********* *** ***** success *** *** ************ of **** ***** ******* from ******. **** ****** the ******* ********** ******* from ****** ** ******** for * **** *****.

*******

****** ***** ** ***** customers **** ******* * higher *** ******* ******** claims ** ******** **** existing ***** *******, ***** could ** *********** *********** the ****** ** *** significant ********* **** **** any ***** ***** ****. The ****** ***** ** there, *********** * ****** Google ****** *** "******* **** *** **** Claim" ******* **** ***,*** results, ** ***** **** are ***** ** ******** injury *********.

Comments (3)

Undisclosed #1

07/05/18 02:11am

***** *******, **** **-***** cloud-based *******, ***** * solution ** **** *********.

**** *** *** **-*****, you **** **** ** the ******** *********, *** retention, *******?

Avatar

Sean Patton

IPVM | In reply to Undisclosed #1 | 07/05/18 01:05pm

*****'* ** ********* ** technical **** ****** ** either ********* ** *********, using *** ***** *****-***** (Google, ***, *****, ***..) storage ********.

Avatar

Sean Patton

IPVM | In reply to Undisclosed #1 | 07/05/18 01:13pm

*** *** ****** ******** to ******'* ******** ** the ***** ******* *********?

** ******** ******** *** pertaining ** *** ***** backend, ****** **** ******** "in-the-box" ***** ********* ** to ** ****** *********, but ********* **** ****** retention ******* *** *********. I **** ****** ** with **** ********* *** maximum ********* ****** ** their ********.

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