Patrick Walsh knew that his company is really good at using drones to inspect buildings.
The question was how to turn EagleHawk’s core aptitude into a high-growth startup.
He thinks he’s found the answer.
This April, the Blasdell-based company released a product called elevateFM, designed to help customers use the data from the drone inspections.
“It’s a facilities management platform that allows a facility to manage everything outside of their building in a way that hasn’t been possible before,” Walsh said. “This product has been in our roadmap and in our vision and it finally came to fruition this year.”
It’s a big moment for EagleHawk. Drone inspections are a service. The software tool is a product with recurring revenue.
Walsh said EagleHawk has inked about a dozen paying subscribers to elevateFM since it was launched. He’s in the process of hiring a few new sales development reps, and expects EagleHawk’s team to double to about 20 employees by the end of 2023.
EagleHawk took in $700,000 last year, with $500,000 coming from the New York State Energy Research and Development Authority and the rest from local angel investors. The company filed regulatory forms on the transaction this month but closed on the funding in 2021.
“We’re pretty excited,” Walsh said. “The launch has gone well and we’re onboarding new customers. We expect elevateFM to make up the majority of our revenue by next year.”
