BinSentry is an Agriculture Tech company providing a solution to a 50 year old challenge facing the feed industry globally: the effective monitoring of inventory inside of remotely located feed bins. Below is our recent interview with Randall Schwartzentruber, Co-Founder & CEO at BinSentry:
Q: Can you give us more insights into your services?
A: In contrast with other companies who offer level monitoring technologies, BinSentry offers our platform as a service. This monthly service enables our customers access to the critical inventory data that they need, to realize increased efficiencies within their organizations. BinSentry offers “Days to Empty” projections, an Order Calculator for optimizing delivery amounts within a delivery window, empty notifications and a host of other features – all designed to save our customers money by optimizing their production scheduling, transportation routes and eliminating costly feed outages or other mistakes resulting in loss.
Q: How did the business develop?
A: BinSentry was founded after a chance encounter with a local feed mill owner who lamented the fact that his daily problem of tracking customer inventory had not yet been solved. This owner claimed that the problem was not unique to his mill only and that it was in fact a global problem. I naively assumed that this was an exaggeration and let this frustrated future customer know that I’d put my Google skills to work and find him a solution that evening. After 4 hours of “googling” I came up empty handed. This is where our journey began – recognizing an opportunity and after speaking with other feed mills to validate that there was indeed a demand, we began the lengthy process of trying to solve this decades old problem! One and a half years and countless long and failure-ridden hours of prototyping later, our perseverance finally paid off – based on LIDAR technology, we had built a self-cleaning solution that worked. Today our sensor is installed on thousands of feed bins around North America and work is well underway on a second generation sensor which will be even more powerful.
Q: Can you tell us something about your pricing?
A: BinSentry is offered as-a-service based on the number of bins being monitored – with volume discount tiers available for larger deployments. Aside from the monthly cost per bin there are no other costs – no installation costs, not data costs, no maintenance or service costs (we perform lifetime service, free of charge) and best of all, the sensor installs in less than 10 minutes without modifying feed bins and without requiring power or internet to be provided. It’s quick, easy and completely painless.
Q: What are your plans for the future? Do you have any new features in the pipeline?
A: In the near future we intend to develop partnerships which will enable us to take our technology global. We already encounter demand and interest from around the world and we have every intention to pursue those opportunities. In addition to this, we have a second generation sensor currently in development which will open up other markets as well as deliver an even greater accuracy, with even the most difficult to monitor products. Our software is ever evolving and being improved upon – this financing will enable us to add to our already talented team of software developers so that we can continue to deliver the powerful, advanced features that our customers are asking for. Keep an eye on BinSentry – among our customers we’ve established a strong reputation for innovation and dedication to solving our customers needs – this is only the beginning of what we hope will be a very successful future, delivering the most innovative IoT technologies to our customers in Agriculture!