RapidSOS Raises $85M Series C Led by Insight Partners
The RapidSOS Platform works with more than 4,800 emergency communications centers across the U.S., covering 92% of the population.
NEW YORK CITY — RapidSOS, an emergency response technology company, announces it closed $85 million in Series C funding led by global venture capital and private equity firm Insight Partners.
Insight is a leading software investor with assets under management (AUM) of more than $30 billion after announcing its 11th flagship fund, Fund XI at $9.5 billion last April. Valuation was not disclosed, although the investment brings RapidSOS’s total funding to $200 million.
RapidSOS says the investment will advance the company’s work to connect emergency data from digital health, smart buildings, security, connected vehicles and app companies with first responders globally.
The RapidSOS Platform is said to power more than 4,800 emergency communications centers (ECCs) across the United States, covering 92% of the population, and is integrated with over 350 million connected devices. These devices, recognized as RapidSOS Ready, transmit real-time location, health and medical information, connected building and alarm data, and more in an emergency.
“2020 reminded all of us of the heroic work that first responders do in our most challenging moments,” states Michael Martin, founder and CEO of RapidSOS. “We spent the past eight years building the RapidSOS emergency response data platform in partnership with thousands of first responders — collaborating with leading technology companies to provide the right data, at the right place, at the right time to save lives across over 150 million emergencies annually.”
The new funding supports the company’s mission to link connected devices to first responders globally, providing a life-saving ecosystem of safety, security and digital health, according to the announcement. For example, the RapidSOS Platform connects data from the following sources with 911 and first responders in an emergency: crash impact and occupant data from connected vehicles, critical health and medical information from medical profiles, wearables and devices, and alarm information, address, sensor data and multimedia from connected buildings.
“Insight has a history of backing category-defining companies, and RapidSOS has all the makings of one in the emergency response space,” says Nikitas Koutoupes, managing director at Insight Partners. “We are excited to have our team of software ScaleUp and platform experts help drive RapidSOS’s mission.”
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