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Canadian-based Video Management System (VMS) provider Solink has closed $60 million in a Series C investment round.
The vendor says the investment will accelerate its plans to expand globally and further invest in its cloud VMS platform.
The funding round was led by the Growth Equity business within Goldman Sachs Asset Management and comes from its recently launched growth equity fund, said to be dedicated to high-growth businesses with strong market positioning and durable business models.
Solink’s system is a subscription-based software that connects security camera footage with POS data and creates a dashboard of analytics and searchable moments. Designed to provide real-time access to security cameras and business intelligence, using existing cameras to make them searchable and accessible in the cloud, it currently has more than 18,000 customer locations worldwide across a range of sectors.
The platform allows customers to manage after-hour alarm systems with video verification and dispatch, monitor unauthorised access control and to centralise data and decision making through its web and mobile apps.
The company explains it works with existing cameras, and features search capabilities in the platform. Data can be paired from over 200 different systems with security cameras to identify suspicious activities.
“Investing in AI and global expansion”
Michael Matta, CEO, Solink, explains: “This investment will accelerate our plans to expand our global coverage and allow us to invest in the future of physical security through new AI-native products. We want to partner with businesses to be their co-pilot, bubbling-up the most pressing risk and helping them action it. What won’t change, is our relentless focus on helping customers protect their People, Patrons and Profits.”
Mike Reilly, a Vice President in the Growth Equity business within Goldman Sachs Asset Management, added: “Physical security is essential to managing the operations and profitability of most enterprises and small businesses globally.
“After conducting a deep dive in the physical security and VSaaS space, our team identified Solink as the up-and-coming leader in a market undergoing a rapid transition to the cloud and modernised solutions.
“Goldman Sachs is excited to partner with Mike Matta and the Solink team as they continue to gain market share due to their deep commitment to innovation, unwavering focus on customers, and a product that is a step ahead.”
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Cloud-based VMS provider Solink receives $60 million Series C investmentVideo Management System provider Solink says the investment will accelerate its plans to expand globally and improve its cloud VMS platform.
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The funding round was led by the Growth Equity business within Goldman Sachs Asset Management and comes from its recently launched growth equity fund, said to be dedicated to high-growth businesses with strong market positioning and durable business models.