Solink, an Ottawa-based data-driven cloud security platform, has raised $16.3 million in a Series A financing.
The round was led by U.S. growth equity firm Valor Equity Partners. It was joined by Generation Ventures, ScaleUp Ventures and BDC Capital‘s IT Venture Fund. All four investors backed the company’s $5 million round in 2017.
Solink’s other investors include Wesley Clover International Corp.
Founded in 2009, Solink’s video-centric software helps brick-and-mortar businesses manage operations, security and loss prevention. Its customers include restaurants, retailers and financial institutions.
Led by CEO Mike Matta, the company will use the funds raised to further develop the platform and expand its team.
Photo: Solink Corp’s team.
PRESS RELEASE
Solink Raises $16.3M in Series A Funding
January 14, 2019
Solink is excited to announce that we have successfully raised $16.3 million in Series A funding. This impressive raise will be used to continue growing and developing the Solink platform, and to further grow our committed team.
The funding is led by Valor Equity Partners; existing investors Generation Venture, ScaleUp Ventures, and BDC IT Venture fund also participated in the oversubscribed round.
“We’re very excited to be partnering with Solink. We began our relationship as customers through a portfolio company, and immediately saw value in the Solink platform. Their commitment to innovation and customer experience is a big part of what compelled us to invest in the company,” said Jon Shulkin, partner at Valor Equity Partners.
This B2B, video-centric software is changing the way businesses make decisions and complete investigations. The Solink platform syncs business transaction data with video footage, creating a dashboard of clips for all on-site activity. These ‘events’, paired seamlessly with video for context, give Solink users the ability to evaluate the situation instantly. It’s this machine learning technology that gives Solink users the edge they need in the ever-changing and evolving brick-and-mortar industry.
4 Solink Screen Mockup
Solink monitors for patterns of unusual activity and provides real-time alerts; users can then view and use Solink from any device, anywhere in the world. Clients use Solink for everything from daily inventory auditing, to health and safety monitoring, to uncovering transaction scams and shoplifters. Advanced Motion Search features allow managers to review historical footage and pinpoint movement within any camera in seconds – this provides, instant visibility, for example, into why fire exits were opened, or when a missing purse was last seen on a tabletop.
“Business intelligence is powerful,” says Mike Matta, CEO of Solink. “But when we integrate video as a layer of information, we disrupt the traditional concept of BI. We add truth and context that can make the difference between a poor or an informed decision.”
The Solink team is energized by this news. Conversations around stand-up meetings and team talks focuses on the value that the Solink app + platform brings to our customers—not just in their businesses, but in their lives. “We love hearing that our product helped a business owner get more time with his kids, or helped a manager solve a policy or security issue in just a few clicks,” says Matta.
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