Hellcat Technologies, based out of Tabor, Iowa, recently raised $350k total investment, with $200k being angel capital. This is an unusual and exciting development for rural parts of the Middle.
What is Hellcat Technologies, and why should you care?
According to President and Cofounder Steve Wozniak, “Hellcat Technologies was organically founded out of necessity to streamline, automate, prevent revenue loss, and promote profitability in the telecommunications industry. We are creating an integrated software platform that will provide intuitive and easy-to-use tools that remove the ‘pencil and paper’ legacy data submission processes that have enabled a multi-billion-dollar industry problem to exist for decades.”
Steve Wozniak founded Hellcat back in 2019, along with Jason Blackburn. Jason has 20+ years of experience as a software programmer/analyst and has contributed to substantial Fortune 500/1000 projects. He also built the first functional Hellcat field app demo in the first 30 days after our initial meeting outlining the product requirements. Jason brings substantial analytical and organizational qualities to the management team. Steve has 15+ years of experience in integrated electronics and telecommunications. He has operated telecom construction businesses and has identified the requirements needed to fix industry admin and data problems. With their skills and experience they have been able to identify areas of the telecommunications industry that need improvement and create the technology that provides solutions to its providers.
How big is the market for Hellcat?
The US telecommunications market that Hellcat serves is nearly $100 billion annually and growing quickly. Over $87 billion is invested in new telecom/broadband construction each year. This number is expected to grow by 50% from 2022 to 2024, thanks to new funding from the federal government. These growing markets are why Hellcat decided to raise capital to keep up with the increasing opportunities around them. The company plans to have its product be available for growing needs in the US and hopes to take advantage of emerging global markets. According to Wozniak, large capital expenditures are being made to build high-speed internet infrastructure where none or little currently exists in areas such as India, Africa, and the Philippines.
Hellcat is seeking to help telecommunications companies save money as they expand their operations, leading to the largest ROI possible. The telecommunications industry loses over a billion dollars each year from issues such as delayed invoices creating cash flow issues for contractors; inventory inaccuracies alone cause over a billion dollars of losses in the US each year due to lost and/or stolen materials. Hellcat’s revolutionary software makes it easy for those in the telecommunications industry to fix these problems by offering invoices generated easily by information submitted into the mobile app. The app contains easy-to-use inventory features so that managers know what equipment is available to them at any point. Hellcat is also the solution to inaccurate industry data. No other software has allowed for a centralized database of telecommunications information allowing for ubiquitous information.
While some companies are attempting to compete with Hellcat in the software as a service (SaaS) for telecom companies, Wozniak said that he feels his team has created a product that is far superior to any current offerings. The true strength of Hellcat is how user-friendly the platform is. The developers at Hellcat want their applications to be so intuitive that personnel training isn’t even required to use them. “Our design requirements are coming directly from individuals and advisors who work in the industry.” explained Wozniak, “Our competitors have managed to address fewer solutions with a far more complex and less intuitive platform.” Hellcat has listened to those they serve and has reaped customer satisfaction rewards.
There were many challenges along the way for the Hellcat team, starting with the unique environment of the Middle. Wozniak explained that the Nebraska and Iowa region doesn’t have the friendliest ecosystem for tech start-ups, specifically SaaS companies like Hellcat. When asked what he felt would change that would help to improve the ecosystem, Wozniak responded, “I believe additional grants and tax incentives, especially start-up capital for qualifying entrepreneurs, needs to not only be readily available but advertised. These types of companies could generate a lot of local tax revenue, attract highly knowledgeable and skilled individuals to the region, and incubate more of a tech-based economy to diversify the markets we are currently known for.” Wozniak was also quick to thank the outside advisors and resources that have helped the company over the past two and a half years. Ethan Pitt and Ray Hansen, both affiliates of the Iowa State Small Business Development Center (SBDC), host a program that helped the leadership team at Hellcat to “learn to be entrepreneurs with their leadership, expertise, and advice.” Wozniak had advice for entrepreneurs looking to get started. “If there’s anything Hellcat can’t express enough for any entrepreneur who may read this, is please seek an incubator program like the SBDC sponsored Rural Business Innovators program, as they were instrumental in building a business out of an idea.”
Companies like Hellcat are certainly paving the way for tech entrepreneurs looking to start their business in the Midwest. Their business will help the ecosystem too, as Hellcat’s software empowers local telecommunication providers to bring new technologies to rural areas. If you are interested in learning more about Hellcat and its services, be sure to visit the company website: https://hellcattechnologies.com/