Umbo raises $8M in post-A funding to accelerate global growth of video analytics business
Artificial intelligence startup Umbo Computer Vision has announced $8 million in post-A round financing, which brings it to a total of $17.6 million raised so far, and will be used to accelerate the company’s global sales expansion and bolster its portfolio of AI security products.
The funding round was co-led by Translink Capital and Susquehanna International Group, with strategic investments from Shin-Kong Capital and Shin-Kong Security, one of Asia’s largest security alarm companies. Existing investors also participated in the round.
The company says its Umbo Light is a fast-learning behavior recognition system for detecting security events such as intrusion, tailgating, and wall scaling, as well as occupancy. It is often used with cloud-based security management platform Umbo TruePlatform, often with existing IP cameras, or with Umbo AICameras for edge processing capabilities.
“Umbo’s products are changing the way people around the world think about video security. Businesses small and large come to us seeking a solution they can trust to keep them safe and secure from suspicious behaviors,” says Shawn Guan, CEO at Umbo. “Our vision is to bring our computer vision technology to new customers worldwide and provide simple, yet powerful protection that anyone can use.”
Umbo recently opened a London office to reach the UK market, and Southern Monitoring Director of Operations Christopher Jones says extensive tests of Umbo Light in real world conditions show 95 percent more false positives suppressed compared to its current deployment.
“We are excited to work with a company that is paving the way for A.I. and surveillance technology,” states Translink Capital Co-founder and Managing Partner Jackie Yang. “Combining AiCameras, TruePlatform and Light A.I., Umbo is providing a working solution that the surveillance industry has been looking for over a decade.”
Johnson Controls Integrated Solutions Engineer George Caballero says in the announcement that the installation of Umbo AICameras was the easiest of his 23-year career.
Umbo says it has picked up more than 200 enterprise and small business customers, and received the Innovation Award at ESX 2019. The company also won the Best in Video Analytics Award from the SIA back in 2017, among other awards.