Actuate Secures $11.5 Million in Funding to Advance AI-Powered Remote Video Guarding Solutions
NEW YORK, Aug. 14, 2024 /PRNewswire/ -- Actuate, a leading innovator in computer vision technology for remote video guarding, proudly announces the successful closing of an $11.5 million funding round. This investment was led by Gray Line Partners, with significant contributions from existing investors Tribeca Venture Partners, Bling Capital, Tensility Venture Partners, and Upside Partnership.
The remote video guarding industry is the fastest growing segment in the physical security industry, catalyzed by increasing waves of organized property crime and the challenges in security guard hiring. Actuate's AI solutions are instrumental in enabling remote video guarding operations, allowing a handful of operators to effectively monitor thousands of cameras.
Nathan Varn, Vice President of Sales of Envera Systems, said, "We've very metrics-driven in terms of the operational efficiency of our monitoring center. Ever since we moved our cameras to Actuate, we achieved the lowest false alarm rate in company history."
The new funding will enable Actuate to accelerate its growth, enhance its cutting-edge technology, and expand its market presence. As a trailblazer in AI-driven security solutions, Actuate leverages advanced computer vision to provide unparalleled remote monitoring and protection, ensuring safety and operational efficiency for a wide range of industries.
Eddie Kang, Managing Partner at Gray Line Partners, commented, "Actuate is making businesses and people safer. Their AI is more accurate than the competition and they have incredible trust across the ecosystem. We're very excited to support Actuate as they continue to push the industry forward."
Sonny Tai, CEO of Actuate, stated, "This funding is a significant milestone for Actuate. It will allow us to deepen our technical moat and scale our market share within the industry. We are excited to partner with Gray Line and our other esteemed investors to drive the next phase of our growth. With this support, we will continue to push the boundaries of what's possible in video surveillance and security."
Actuate's platform harnesses the power of AI and computer vision to offer highly accurate, real-time monitoring and threat detection, significantly reducing the need for manual oversight. The company's solutions are designed to enhance security protocols, minimize response times, and provide actionable insights for proactive threat management.
The investment marks a pivotal moment for Actuate as it aims to further its mission of redefining remote video guarding and establishing new benchmarks in security technology.
For more information about Actuate and its innovative solutions, please visit https://actuate.ai or contact:
About Actuate:
Actuate is a New York-based AI company specializing in computer vision software for remote video guarding. Through advanced AI and machine learning algorithms, Actuate delivers superior security solutions that enhance monitoring, threat detection, and operational efficiency across various industries.
About Gray Line Partners:
Gray Line Partners is a growth equity firm that focuses exclusively on enterprise software businesses at the early growth stage. They partner with founders that are looking to build transformative businesses that will shape industries in the decades to come.
Media Contact: Sonny Tai, [email protected]
SOURCE Actuate
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