Security company Evolon Technology has secured $16m from a Series A funding round to help it further accelerate growth.
Founded in 2001, Evolon is a developer of software technology that takes surveillance videos and turns them into real-time actionable information.
The company develops advanced perimeter surveillance software solutions for critical infrastructure protection and central station monitoring.
According to Evolon, the newly raised capital will be used to help expand its team and rapidly speed up research and product development efforts, boost sales and marketing initiatives and implement new products and solutions.
Evolon CEO Kevin Stadler said, “The avalanche of video security data in the coming years will drive the need for much better threat detection, nuisance alert reduction, and accurate object classification. Market and technology trends are creating a perfect storm for rapid adoption of innovative and disruptive security solutions. Evolon is uniquely positioned to lead these advancements. This infusion of new capital will accelerate our ability to deliver better, faster, and cheaper security solutions.”
ReignRock Capital Partners – a firm who initially financed Evolon in 2018 and 2020 – added, “The transformation of Evolon into a fast-growth product company has been very impressive. We look forward to this next chapter of Evolon’s ability to be a disruptive force in an industry that seeks innovative solutions.”
Copyright © 2021 RegTech Analyst
Copyright © 2018 RegTech Analyst
