Remote Surveillance Provider LiveView Technologies Raises $50M in Series B Funding
LVT’s solar-powered trailers with mounted cameras stream live video. The company counts the Kansas City Chiefs, Marathon Oil and the City of Camden among its customers.
SALT LAKE CITY — LiveView Technologies (LVT), a provider of intelligent safety and security ecosystems, announces it has raised $50 million in Series B funding in collaboration with growth investment firm Sorenson Capital.
The company’s recurring revenue has grown 133% in the last year, and averaged over 100% in the last five years. Sorenson was joined by The Larry H. Miller Group and previous investment partners, Lead Edge Capital and Pelion Venture Partners. Rob Rueckert, Partner at Sorenson Capital, will join LVT’s Board of Directors.
LVT’s enterprise-grade solutions secure any physical environment using intelligent automation and actionable, real-time data. With demand for LVT’s rapidly deployable commercial security systems increasing across both public and private sectors, the company has grown 514% from last year’s valuation, according to the company.
LVT says it will use the funds to power even more advanced product research and development, continue recruiting top technical, manufacturing, and business talent, and drive expansion into the international security market.
LVT adds customers like the Kansas City Chiefs, Marathon Oil, the City of Camden and thousands more use its proprietary systems to ensure public, employee, customer and facility safety.
With active discovery, deterrence and defense, LVT customers are said to see a more than 60% reduction in violent crimes on their properties. Just the physical presence and visibility of LVT’s on-site security towers outside retail locations have helped many customers reduce theft by over 65%, and theft-related shrink costs by more than 85%, according to the company.
“LVT doesn’t just record incidents, they help prevent and deter them entirely,” says Mike Lamb, former asset protection and safety leader for Kroger, Walmart and The Home Depot. “They are currently supporting one retail location that averaged 15 incidents of gun violence per year. Since partnering with LVT over a year ago, it dropped to zero. For asset protection leaders, this is the most important outcome because employee and customer safety is our top priority.”
LVT says its solar-powered trailers with mounted cameras have become a common sight across the country at big-box retailers and construction sites, but are also used beyond these traditional commercial environments.
Various public and private sector customers currently deploy LVT systems for a wide range of use cases, from enhancing visitor safety with remote visibility into traffic and weather conditions in Yellowstone National Park, to increasing visitor and parking lot security at professional sports stadiums and entertainment venues, to monitoring for unidentified aircraft with autonomous alerts for real-time situational awareness, and more.
“LVT’s mission is to make the entire world safer and more secure. While theft-related savings and real-time site awareness are a significant benefit for many of our customers, preventing violent crime and saving lives are the most important goals of our company, and at the forefront of everything we do,” says LiveView Technologies Co-Founder and CEO, Ryan Porter. “Our accelerated growth is a testament to the solutions we work tirelessly to provide, the value we place on forging strong partnerships with our customers every day, and the belief that we are realizing our mission one safer community at a time.”
In the last year alone, LVT says it has supported customers by reducing grab-and-go theft at specific retail locations by up to 69%, saved the City of Camden $4M in cleanup costs by deterring illegal dumping, and assisted the Miami Police Department in the identification and arrest of a serial killer.
With more than 6,000 security units in use and growing daily, LVT protects over 2.5B sq/ft of property around the globe.
“LVT prevents crime and saves lives, period. You simply don’t get the opportunity to partner with a company like that very often,” says Rob Rueckert, partner at Sorenson Capital. “Their unique technologies are found on the properties of small retailers up to Fortune 100 companies, they are serious about 100% customer satisfaction, and they never stop innovating. You can see their direct impact across various industries, and we are excited to support LVT as they expand even further into the global market.”
LVT partners with resellers and integrators to sell and install its solutions. To partner, reach out to [email protected].
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