Stanley Security Takes Stake in Evolv Technology
Backed by Stanley Black & Decker, the investment supports the company’s commitment to advancing security and safety with industry-leading screening technology.
The investment — backed by Stanley Ventures, the venture capital arm of Stanley Black & Decker (NYSE: SWK) — forms a strategic partnership between the two companies. No financial terms were disclosed.
Evolv Express, the company’s touchless security screening system, makes it possible for venues of all kinds to keep visitors safe from concealed weapons, pandemic health threats and intruders. Powered by the Evolv Cortex AI software platform, the system uses proprietary sensors and AI to differentiate weapons from personal items in real-time.
Evolv Express keeps high-volume entrances flowing by reliably detecting guns and other weapons as people walk through naturally without emptying their pockets, bags, backpacks or other belongings. The system can screen more than 3,600 people per hour, 10 times faster than metal detectors, according to the announcement.
“We’re committed to helping organizations create safer, healthier environments for their employees, customers, students and partners, and our investment in Evolv Technology helps us deliver on that commitment,” says Stanley Security Global President Matthew Kushner. “Evolv’s innovative, touchless security screening solutions are an integral part of the security industry’s future. When paired with data analytics and expertise from Stanley Security, these solutions will deliver even more value to organizations as they adjust operations and enhance security measures to reopen and stay open safely.”
Evolv Technology’s systems bolster security programs at K-12 schools, higher education institutions, hospitals, sports venues, office and federal buildings, outdoor recreation venues and more. To date, the systems have been used to screen more than 50 million individuals at venues and facilities across the globe, the announcement states.
“This strategic partnership leverages both companies’ resources, capabilities, industry expertise and market presence,” comments Evolv Technology CEO Peter George. “The breadth of Stanley Security’s solutions portfolio and reach of its global installed base, coupled with Evolv’s modern technology and commitment to transforming the security screening space, makes for a powerful partnership.”
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