The Ledger
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Sidhu: Citizens interacting with local police are essentially customers
“Well, I mean, anybody who is interacting with a police officer or deputy sheriff at a local law enforcement level is essentially a customer.”
Sidhu: SPIDR Tech turned down a Series A to be acquired
“In fact, we had the potential of competing term sheet. We had a term sheet for a series. I mean, we were we actually ended up turning things down because we felt like this was a very, very rare type of acquisition that we could have easily walked away from.”
Sidhu: SPIDR Tech achieved profitability in 2020 before its acquisition
“We had reached profitability last year as well, so we didn't necessarily need venture money to continue growing.”
Sidhu: SPIDR Tech charged small police departments $10K to $40K annually
“At a smaller agency of a hundred folks, it could be, you know, somewhere between 10,000 to 40 ish thousand dollars a year, depending on how much of the platform that they wanted.”
SPIDR Tech serves over 60 police agencies across US and Canada
“We have over 60 different agencies across the United States and Canada.”
Sidhu: One major city customer nearly doubled SPIDR Tech's revenue overnight
“We had a major customer come on board you know, major city that doubled our revenue, almost doubled our revenue overnight in Q one of”
Sidhu: SPIDR Tech grew revenue 5x year-over-year before the pandemic
“And I will say that the years prior, you know, we had five X year over year growth pretty easily.”