RaySecur Raises $13M Series A Funding Round
The funding will be used to accelerate market adoption of RaySecur’s flagship imaging product MailSecur, a desktop-sized 3D scanner.
CAMBRIDGE, Mass. — RaySecur, a developer of imaging technology based on millimeter waves (mmWave), announces a $13 million Series A funding round led by Outsiders Fund.
The funding will accelerate market adoption of the company’s patented mmWave imaging technology and amplify growth within the mail and package security sector, according to the announcement. Other key investors in the funding round include JCI Ventures, the corporate venture arm of Johnson Controls, One Way Ventures, Yu Galaxy, Launchpad Venture Group, and Dreamit Ventures.
Mail and package scanning, while vitally important to the security of governments, corporations, institutions and individuals alike, remains a highly underserved and oft-overlooked sector, according to the announcement. In the last three years, on average, more than 10 dangerous mail or package incidents per day were responded to by either the U.S. Postal Inspection Service (USPIS) or the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF).
In addition, according to a 2019 survey of mailroom and security professionals, more than one-in-three of organizations surveyed reported detecting at least one mail threat in the past year.
RaySecur’s flagship imaging product, MailSecur, is a desktop-sized 3D scanner that intercepts and detects mailroom threats. It is said to be the first mail scanner to receive Department of Homeland Security (DHS) designation as a Qualified Anti-Terrorism Technology (QATT) under the DHS Safety Act.
Unlike X-rays, which emit harmful radiation and require safety inspections and trained operators, MailSecur uses safe mmWaves. It requires no special training and is 300x more sensitive than X-ray at detecting powders or liquids, which comprise most mailroom security threats.
Each scanner is connected to a RaySecur private wireless network with direct one-touch remote access to trained military Explosive Ordnance Disposal (EOD) professionals that can immediately assist MailSecur users as they work to resolve a threat.
“As the leading provider of smart, healthy and sustainable building solutions, we seek to deploy and partner with the best and most effective solutions to help our customers stay protected,” states Rain Cui, senior director of JCI Ventures. “MailSecur provides a safe, non-invasive imaging technology and, integrated with products such as our C•CURE security management platform, addresses security threats from mail as they enter the premises and ultimately helps enable safer and more secure buildings.”
The Series A proceeds will also help RaySecur expand its mail screening-as-a-service solutions enabled by MailSecur including AI threat detection and EODSecur. The solution provides users with 24/7 access to some of the world’s leading former military threat experts who can remotely connect to MailSecur scanners anywhere in the world and assist customers in evaluating potential threats in real-time.
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