With a long history of supporting the travel risk management and emergency assistance needs of large multinational organizations, international NGOs, university study abroad programs, and leisure travelers alike, FocusPoint expanded into the SEND space in a big way when it secured a commercial relationship with Globalstar, Inc. in 2021 to provide on-demand emergency response for Globalstar's lineup of SPOT devices.
When asked to comment on the relationship with FocusPoint, Globalstar's CEO, David Kagan said, "FocusPoint has successfully and effortlessly met every demand we've ever thrown at them. They were easy to integrate with and continue to impress us at every turn. Our customers all over the world are happy with FocusPoint, and so are we."
The committed capital comes as FocusPoint has secured several new commercial relationships in the satellite-enabled emergency SOS segment and has a strong pipeline that will be implemented over the next quarter.
Recent partnership announcements with NTN (non-terrestrial network) communications company, Skylo and rugged smartphone maker Bullitt Group, who launched a satellite-enabled device with two-way messaging at this year's CES show in Las Vegas, are helping to drive awareness of FocusPoint's world-class ERaaS offering. "I have been continually impressed with FocusPoint's exponential growth and ability to scale with seamless integration regardless of the size of the opportunity," said Darrell Parsons, Principal of Dalton Capital and Chairman of the Board of Directors.
"This unique ability has positioned FocusPoint for unprecedented growth in the SEND market and aligns perfectly with our investment strategy at Dalton Capital," added Parsons.
FocusPoint is an agnostic player in the world of cellular and satellite-enabled emergency SOS services. The company's ERaaS commercial offering includes 24/7 multilingual contact centers, and a proprietary SaaS platform called PULSE, that enables device monitoring, emergency SOS alert validation, and escalation to emergency services based on the proximity of the device.
FocusPoint's true market differentiator comes from its fully funded and indemnified service guarantee, the Overwatch and Rescue (O&R) plan. Unlike traditional insurance products, FocusPoint's service guarantee doesn't require customers to pay deductibles or expenses up front and then seek reimbursement through a claims process. Customers simply pay a one-time annual fee and (when needed) activate the emergency SOS function on a connected device to trigger the lifesaving benefits of the Overwatch and Rescue plan.
Key benefits include point-of-incident medical evacuations, response to hazardous summer and winter sports, search and rescue (SAR), response to natural disasters, terrorism, riots, strikes, and civil commotion, repatriation of mortal remains, and so much more. Overwatch and Rescue reduces and, in many cases, eliminates the financial exposure associated with a rescue.
The growth capital secured by FocusPoint will be used to expand capacity and allow the company to take on new customers in the satellite-enabled emergency SOS space. "We've seen a tremendous amount of interest from major players in this emerging market, said Peter Martin, Global CEO of Dalton Capital and Vice Chairman of the Board of Directors. "Our financial commitment to FocusPoint will allow the company to grow rapidly ahead of their client's needs, but our commitment doesn't stop here, and by all accounts, the company's growth won't stop any time soon either," added Martin.
FocusPoint will be at the Mobile World Congress (MWC) in Barcelona, Spain, at the end of February to support Bullitt Group and the launch of the Motorola defy, amongst other partners and prospects looking to engage FocusPoint and its ERaaS solution.
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