Vision Spatial Technologies

Sam Dugan
Waterloo, ON

The pitch

Sam Dugan from Waterloo, ON, pitched Vision Spatial Technologies in Season 15, Episode 5, asking the Dragons for $250K for 20% of the company.

Asked for$250K for 20%
Valuation$1.25Mimplied by the ask
OutcomeDealwith Michele Romanow and Lane Merrifield
Final deal$250K for 30%valued at $833K

Offers in the Den

Dragon	Offer	Result
Arlene Dickinson	No specific value-add for this space	Out
Vincenzo Guzzo	Sees it as one of many providers of this kind of service	Out
Manjit Minhas	Return on investment would take too long	Out
Jim Treliving	Concerned about time to reach traction	Out
Michele Romanow	$250,000 for 25%, later joint $250,000 for 30% (15% each)	Accepted
Lane Merrifield	$250,000 for 25%, later joint $250,000 for 30% (15% each)	Accepted

Sam Dugan, a 22-year-old from Waterloo, Ontario, asked for $250,000 for 20% of Vision Spatial Technologies, which makes SmartPatrol, a computer-vision platform that monitors blind spots at ski hills, water parks and similar recreational venues, alerting people uphill or downstream when a zone is unsafe and recording photographic evidence of incidents. The system had been deployed at one Ontario ski resort in a beta trial, which ordered four units at $6,200 each; margins on the subscription-based hardware and software system run 70% to 80%. The company had done only a few thousand dollars in sales to date, all in, hardware and software development cost about $40,000, and Sam projected $100,000 to $300,000 in recurring revenue the following year.

Arlene Dickinson, Vincenzo Guzzo, Manjit Minhas and Jim Treliving all went out, citing concerns about the long timeline to a return, the competitive landscape, and early-stage traction. Michele Romanow offered $250,000 for 25% and Lane Merrifield offered the same, and the two agreed to partner, eventually settling on a joint offer of $250,000 for 30%, split 15% each, which Sam Dugan accepted.

Pitch details from CBC’s Dragons’ Den pitch page.