1Spatial targets $1m a year from each US State in $50m power play

1Spatial now has contracts or framework agreements with 21 US States, up from 18 at the year end. It says the US business has considerable expansion potential with an ambition to generate on average $1 million from each of the 50 States per year.

The recent contract wins and renewals include two customer wins for 1Spatial’s automated traffic conflation solution – powered by its patented 1Integrate rules engine – with the Departments of Transport for the States of Virginia and Georgia. The contracts will deliver, in aggregate, at least $0.5m in Annual Recurring Revenue.

1Spatial has been awarded a position on a five-year framework agreement with the State of Tennessee in partnership with Rizing, a Wipro company.

This is its first engagement in Tennessee and the agreement will deliver data management for Highway Information Systems. 1Spatial, alongside Rizing, was ranked first for its highway systems and data management solutions.

1Spatial also reports a two-year contract renewal with an existing customer, the State of Minnesota, delivering $0.25m ARR. This is an expanded deal which represents an increase of around $0.1m in annual contract value.

1Spatial CEO, Claire Milverton, said: “We continue to see considerable opportunity in the US supporting the digital transformation of transport and emergency services departments for which accurate, reliable and up to date location data is vital.

“These wins and the renewal demonstrate the quality of our product and underpin our ambition to generate on average $1m from each State per annum. Alongside our newly launched SaaS offerings, the company has a number of growth vectors available to deliver on its ambitions.”