This year, we successfully trialed a new product, secured government funding to develop environmental technology, and opened three new offices – all while achieving a new record for revenue growth. Looking back, we’ve compiled a list of the top ten moments that defined Motion Metrics in 2019.
- Achieved 30%+ revenue growth
Motion Metrics was pleased to announce our fifth consecutive year of rapid growth at our annual general meeting – we increased revenue by more than 30% in fiscal 2019. Although proud of this accomplishment, we are careful not to take success for granted and have spent the remainder of this year preparing to scale up. By prioritizing alignment and communication, minimizing inefficiencies, building strategic partnerships, and setting measurable goals, we are laying a foundation for sustainable growth.
Motion Metrics’ Founder & CEO, Shahram Tafazoli, presents at the annual general meeting.
- Successfully trialed an upcoming product, TruckMetrics™
Most plant downtime is crusher-related and caused by oversized material. With a grizzly in place, boulders are less likely to enter your primary crusher but still need to be processed or removed. We developed TruckMetrics to prevent oversized material from reaching the crusher in the first place. Using artificial intelligence and stereo imaging, TruckMetrics detects boulders and analyzes particle size in real time – without interrupting production.
Because TruckMetrics analyzes the size distribution of every truck load, it also provides essential data for mine-to-mill optimization. Earlier this year, we concluded our first successful trial of the solution and will release a commercial version in 2020. To learn more about TruckMetrics™, please contact your local office.
- Secured funding to develop environmental technology
In recent years, we have started to think about how we can use our expertise in artificial intelligence and computer vision to support sustainable resource development. Our vision is to deliver a proposed 15% reduction in energy consumption during comminution through a partial (post-blast) mine-to-mill optimization solution.
Earlier this year, our sustainability vision earned us the opportunity to compete as a semi-finalist in the CrushIt! Challenge – a competition hosted by Natural Resources Canada that aims to fight climate change and increase competitiveness in the mining sector. Months later, Motion Metrics secured funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP). Now, we are in the final stages of obtaining funding from Sustainable Development Technology Canada.
With the support of the Canadian government and our commercial partners, Motion Metrics can help Canada improve its environmental effect on climate change, clean air, and soil and water quality. To partner with us, please contact our Vancouver headquarters.
- Named a finalist at the Technology Impact Awards
Hosted annually by the BC Tech Association, the Technology Impact Awards celebrate the innovators and change-makers who build the fabric of our province’s vibrant technology ecosystem. This year, we were thrilled to secure a spot as one of three finalists for the Excellence in Global Export category – an award that acknowledges technology companies that have succeeded on the world stage through the export of technology developed in British Columbia.
Global export success has been a critical element of our growth strategy, but this isn’t the case for most businesses in our province. As a Vancouver exporter, we hope that sharing our success story will assure future Canadian entrepreneurs that their aspirations need not be limited by borders.
- Signed a record number of service and support contracts
Motion Metrics has been at the intersection of mining and technology for nearly two decades, and experience has taught us that new innovations are most likely to be implemented when they are intuitive, low-risk, and packaged with strong service and support agreements. In response to these observations, Motion Metrics is transitioning towards a Software-as-a-Service (SaaS) revenue model where products are licensed on a subscription basis.
Transitioning from an on-premise to a cloud-based solution also increases the speed of updates and bug fixes because all systems maintenance and upgrades are deployed centrally by the technology vendor. Many of our customers have already transitioned to our SaaS model, and we now have a record number of service and support contracts. Our subscription model has enabled us to provide proactive customer support through remote systems monitoring, leading to happier customers and higher user engagement with our data analysis platform. To learn more about our subscription services, please contact our Support team.
- Outgrew our Vancouver office
This September, Motion Metrics opened a new office in downtown Vancouver to accommodate our rapidly-growing Canadian team. The additional workspace will allow our technical teams to focus on artificial intelligence research, develop new cloud-based products, and benefit from the vibrant technology community in Vancouver’s downtown core. For current job openings, please visit our Careers page.
- Opened our first office in Russia
In October, Motion Metrics announced the opening of our first Russian office. Headquartered in Moscow, our newest office is only a few steps away from the Red Square. The Russian mining industry is one of the world’s largest, and some of its major operations are already adopting our technologies. For information about our products in Russian, please visit our YouTube channel.
Our Russian office is only a few steps away from the Red Square.
- Expansion in Brazil
Brazil’s mineral wealth has fueled its economy since colonial times. Its deposits are among the world’s richest, and mineral production accounts for more than four percent of the nation’s gross domestic product (GDP). This year, we opened our first Brazilian office in the most active mineral region in the country – Minas Gerais. We are excited about this opportunity to better support our Brazilian customers and hope you’ll visit our new space in Belo Horizonte!
Downtown views of Belo Horizonte from our first Brazilian office.
- Increased market penetration in Kazakhstan
Motion Metrics has been working to bring our safety and energy efficiency solutions to the Central Asian market for more than two years. This year, we sold a record number of solutions in Kazakhstan; PortaMetrics™ and ShovelMetrics™ were our best-selling solutions.
However, doing business internationally presents inherent challenges. Our team must overcome language and time zone barriers, navigate different cultural contexts, and operate within new legislations. To provide fast and localized support to our customer base in Central Asia, we have hired staff in Kazakhstan. Establishing a physical presence in the regions we do business is a key component of our global expansion strategy.
- Attended 19 tradeshows
At Motion Metrics, we recognize that building strong, long-term relationships with our customers is the key to finetuning our existing products and developing new solutions for their unique operating environments. This year, we were grateful for the opportunity to meet with existing customers and expand our network at 19 tradeshows across Asia, Africa, Europe, Australia, North America, and South America.
This has been our most successful year yet and our team feels fortunate for the customers, leaders, government organizations, and employees who have made our achievements possible. We would like to say a special thank you to all our customers for making Motion Metrics the industry-leading mining technology company that we are today!