Eyewitness Surveillance Secures $15M Credit Facility

The provider of remote interactive video monitoring services will use the funding to expand its business with auto dealerships.

HANOVER, Md. – Eyewitness Surveillance, a provider of remote interactive video monitoring solutions specializing in serving mid- and large-sized automotive dealerships, has secured new financing to enable its continued expansion and business growth.

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The $15 million facility from The PrivateBank will be used to support Eyewitness Surveillance’s strategic growth goals within key automotive dealership and metal recycling organizations, according to the company. These stated goals include:

• Developing new accounts in existing and new geographic markets, particularly new Midwestern clients including Acura of Columbus, Superior Auto Group, Hare Chevrolet, Bettenhausen Automotive, Currie Motors, Gary Lang Auto Group and Nickelson Industrial
• Enhancing overall product line and building on account management and customer service structures and support teams
• Continuing to drive growth and value propositions in the offering of related security services, including Eyewitness’s Sales Direct and Service Lane Kit 2.0 products

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Securing the new financing is necessary to achieve Eyewitness’s strategic goals through its zero-down model that covers the cost of new equipment and installation, according to the company. One key trend that has resulted from Eyewitness’s expansion has been the increased value clients have seen from shifting from physical guard security to the use of video monitoring and remote surveillance applications and services.

Eyewitness’s clients are also able to experience first-hand benefits from operational solutions tools that go beyond security, and deliver results relating to sales and customer management, false claims, and financial compliance, according to Eyewitness Surveillance President RT Arnold.

“We are thrilled to announce this new financing. Partnering with The PrivateBank will enable us to continue our nationwide footprint and further invest in innovative service offerings to deliver maximum value and return-on-investment to our customers,” Arnold says.

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