If I told you that there was a global market worth over $50Bn, which was still being measured using 19th century tools, what would you think? Welcome to the world of forestry. The same assets which contribute to pension funds and (literally) the air we breath are mostly still assessed with a callipers and measuring tape. It’s this situation that got originally tweaked my interested in Treemetrics.
I’ve been tracking this startup for about the last ten months (they’re based in Cork, Ireland). Over five years they’ve been building a harvesting database of over 11M trees (the biggest in the world), an extremely sophisticated set of data analysis tools and re-purposed some Japanese scanning technology to create an analytics and optimization platform that’s now generating tens of millions of dollars for their customers.
Forestry loses about $10B each year from waste and bad analysis. The founders, Enda Keane and Garrett Mullooly, always thought that the right technology could address that problem. Like Google proved ten years ago, better indexing and analytics can revolutionize an entire industry. In fact, the Taoiseach (Irish Prime Minister) recently declared that Treemetrics were ‘the Google of forestry’. I agree.
In fact I agree a lot. So much so that I’m now a shareholder and Chairman. Keep an eye out for these guys. They’re very special.