Evolv raises $18M in latest round of funding
Security technology firm Evolv Technology Inc. has raised $18 million to help venues with even a limited security budget use technology such as body scanners to safeguard the building, according to a report by Techcrunch.
The startup’s latest round of funding included General Catalyst, Lux Capital, Gates Ventures and Data Collective.
Evolv manufactures several hardware and software products for physical security, including its Evolv Edge system, which features a five feet tall security gate that can perform rapid body scans of individuals who pass through.
The company’s proprietary, millimeter wave imaging sensor spots any “anomalies” on a person, such as if the person is attempting to conceal a bomb or firearms into a venue.
In addition, the Evolv Edge is capable of scanning 600 people per hour, according to the company.
Evolv’s systems also work with cameras and facial recognition software to identify people entering a venue by matching their surveillance images against images stored on databases.
If the person is not authorized to enter the building or is found to have a criminal record, Evolv notifies the venue’s security personnel for further investigation.
“I think we need to change our entire take on physical security and knit it into the flow of our daily lives,” Evolv CEO Michael Ellonbogen said. “We can’t tolerate the new normal of attacks that happen seemingly at random in all the places we go and expect to be safe. Neither can we tolerate a reaction to that which is throwing thousands of troops or police on the streets, and plugging up the doorway of every iconic building or venue around the world trying to make them safe.”
Evolv is already working with clients spanning a range of sectors, including sports and entertainment venues, travel and transportation hubs and other commercial facilities, Ellonbogen said, adding that he is not at liberty to disclose their names.
The startup’s advisory board comprises of several people who worked in leadership roles with the Department of Homeland Security, New York Police Department, FBI and TSA, among others.
Evolv is expected to use the capital for hiring more employees, scaling their operations to accommodate more venues and organizations, and for continued research and development.
“It’s an unfortunate trend, but physical security is morphing and the problem is worsening,” Lux Capital’s Bilal Zuberi said. “So there is room for a new entrant to solve problems with technology. Evolv embeds sensors in the environment, applies machine learning and artificial intelligence to help us understand what’s happening. Is there someone who should not be here? The idea is to provide early detection of threats without false alarms, and without interrupting people’s normal work flow. We should be able to simply walk through and know we are safe.”