Out of the “Minority Report” script and in home offices everywhere

Benzinga met with Peter Holst, President and CEO of Oblong, Inc. (NASDAQ: OBLG), at the Global Small Cap conference in May and found out that the company will grow almost entirely in cloud computing over the next year. While the pandemic is said to have accelerated this development, remote collaboration has been heading in this direction for some time. And while many businesses have seen their fair share of increased productivity, some have experienced significant burnout as engagement has started to wane.

Oblong has the solution to this dilemma and puts it in the cloud to maximize engagement, once and for all.

What is oblong?

Oblong’s magic began in 2002, when founder and former CEO John Underkoffler was approached by prominent Hollywood executives to produce the awe-inspiring technologies found in films, such as Minority Report, Iron Man, and The Hulk. At the time, he was a pioneering researcher in space computing at the MIT Media Lab in Cambridge, Massachusetts.

He didn’t know it then, but his vision of the future would become the standard for human-machine interaction not only in movies but also for future conferencing solutions.

In 2006, Oblong Industries was born and began producing futuristic proprietary solutions for Fortune 500 companies, government agencies and universities around the world. In 2012, its flagship Mezzanine will hit the markets as a commercial solution offering similar agencies a more streamlined, unbranded version of its predecessor.

Mezzanine is a patented collaboration technology and unique digital platform, designed for teams originally collaborating in the boardroom environment. This product offers its users a multitude of multi-screen, multispatial and extended user environments to engage, communicate and produce grandiose projects in real time.

Multiple screens and modules allow each person to bring their own layer of expertise to the mix, because they:

  • Highlight, search, monitor and extract intelligence-related information directly from the production space.
  • Increase meaningful interactions with each other.
  • Improve the productivity of every session.
  • Get a more efficient workflow process.

Screens and modules can be moved across multiple screens by touch, gesture or mouse click.

In essence, Mezzanine is a solution focused entirely on the collaborative workspace environment, providing a fluid visual canvas from which to work and fewer distractions that detract from the quality of final project iterations. And, it’s now heading to home offices everywhere.

Mezzanine in motion

screenshot_2021-06-24_2.23.10_pm.png

For many businesses, Mezzanine has accelerated robust processes, improved communications between a remote workforce, and increased productivity – literally at every level.

As Oblong begins to deliver Mezzanine via the cloud, it sees an increase in demand for multi-site and multi-device technologies and customers are looking for new ways for businesses to work and solve major big data issues and of security.

Research, real-time intelligence, and data-driven analysis are often performed across multiple unconnected platforms, multiple browsers, and in some cases, entirely separate devices. With these, there is a lack of efficiency, integration between platforms, synchronicity and, most of the time, a lack of convenience.

In person, Mezzanine serves as a giant screen, allowing users to successfully address reconciliation, mission briefing, and key attack strategies between multiple data points. All solutions can be integrated. Virtually, this screen can be shared in a multi-location sense, as users project cloud software across multiple displays, computers and devices, as an extension of a single dashboard where data can be located and with which interact directly.

A critical solution designed by the experts

With an experienced technical leadership team in place, Oblong’s C-Suite brings decades of experience to the operations and development of technology companies. The majority of the team comes from a background in software engineering, many working in product design as well. Together, they discussed what Fortune 500 companies believe is most critical to the continued performance of existing business models.

While employees may say that meetings are generally boring, companies maximize engagement in virtual meeting spaces. Another way for businesses to use Mezzanine is to create virtual experiences that send a lot of data to participants and break it down into multiple streams, where various points of interest can be viewed at once. create more meaningful and fully immersive experiences.

The COVID pandemic through 2020 has allowed the company to monetize key partnerships and increase bookings from global distribution partners, such as Cisco (NASDAQ: CSCO), which is expected to announce new sources of revenue by the end of 2021 and 2022. This comes with a more complete suite of complementary tools and solutions. The program can continue to serve as a stand-alone mechanism during in-person engagements, but also enhance remote meetings and collaboration.

Why should I invest in Oblong?

Oblong will be hard at work migrating the current Mezzanine product line to the cloud over the next 24 months. A once specialized and very prestigious customer base has now grown, and the focus is more on the end user, although the company will continue to have relationships with Fortune 500 companies around the world.

The company is poised to grow by leading the next generation of visual and data collaboration in growing markets. In 2020 alone, Oblong’s user base more than doubled. The company recorded a market capitalization of $ 107 million in 2020 with revenues of $ 15 million and currently has more than 26.6 million shares outstanding. The total addressable market is estimated to be between $ 1 billion and $ 2 billion.

He recently partnered with Cisco Webex (NASDAQ: CSCO) and positions itself for significant revenue growth over the next 18-24 months. A beta of its new Software-as-a-Service (SaaS) offering will also be available in late 2021 and aims to achieve 10x growth over the next 3-4 years as the company focuses on reducing business losses. ‘operation, product growth and realignment, distribution and expansion of core products and services.

As investors watch the company, there are indicators that it may be a good company to invest in. It has been operating successfully for over 17 years and has gone through classic venture capital cycles. With multiple partnerships, several “hush-hush” until the end of the year, the company’s mission is to take all intellectual property and monetize it in the future.

It is estimated that 95% of Fortune 500 companies use Cisco products and services for collaboration. Likewise, there are around 1 billion meetings organized per year. This represents a significant opportunity for the business and leaves it open to annual recurring revenue through subscription and renewal services linked to Software-as-a-Service (SaaS) and Hardware-as-a-Service (HaaS) modules. ).

The company already sees more than 500 million attendees using its products, with 100,000 to 200,000 conference rooms hosted each year.

Rooted in research and development, it is moving away from the large-scale, high-end room models it was once associated with and now focuses on providing more regular subscription services to individual users.

How does the mezzanine stand out?

In previous years, Oblong has served clients in large briefing centers, sophisticated conference rooms, and multi-walled war room environments, creating compact spaces for intensive work. Today, there are hundreds of deployments in Fortune 500 and Forbes Global 2000 companies alone. The latest version of Mezzanine will support workflows in all vertical businesses and is perfect for connecting beyond the conference room environment.

The company has invested over $ 100 million in the technology and is currently considered the only vendor to offer this type of engagement. She holds a number of patents in the fields of space computing, immersive computing systems, multi-screen technologies, AR / VR and gesture control technologies. In fact, Oblong has obtained 46 different patents in the US and 28 in the EU, Korea, Japan, China and India. It has 8 patents pending in the United States and 31 worldwide.

Will Oblong eliminate collaboration between boards?

Going forward, Holst sees the world operating in a hybrid work environment, a direction the world has gradually migrated to over the past 20 years. He admits that this past year has led to accelerated change in that direction and credits improvements in internet and computing models, gamification, and bandwidth capabilities for more efficiency.

While people aren’t necessarily keen on traveling long distances and commuting to work, he notes that some teams really appreciate and benefit from in-person collaboration, while others prefer a more experience. digitally engaged with their peers.

While there will be a new trend in the way we present and collaborate with international partners, people still love to connect. The mezzanine is sure to see incredible growth as businesses reopen and people return to work. The company plans to implement machine learning and AI in all future models. However, Oblong won’t be ending previous models anytime soon.

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.


Source link

About Michael Hodges

Check Also

Worldwide Smart Buildings AI & Machine Learning in Smart

Dublin, August 11, 2021 (GLOBE NEWSWIRE) – The report “Smart Buildings AI & Machine Learning …