CLOUDASTRUCTURE ANNOUNCES 700% BOOKINGS GROWTH

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Jun 03, 2022, 07:30 ET

Award-winning AI Surveillance Company Announces New Reg A+ Amidst Growth

MIAMI, June 3, 2022 /PRNewswire/ -- Today, award-winning cloud video surveillance provider Cloudastructure announced a new remote guarding solution, disclosed new initiatives across the company, and most notably, announced their latest Reg A+ has been qualified, listing units at $2.00 a unit.

Cloudastructure announced they have experienced 700% growth in bookings in the first five months of 2022. The company also remains in a strong cash position with more than $13MM on hand.

Engineering:

In addition to expanding the company's flagship AI Surveillance features and user interface, engineering has added a new cloud-based Remote Guarding solution to Cloudastructure's portfolio which pairs seamlessly with AI Surveillance. The solution offers:

Unique cybersecurity, as it requires no port in the router, or hole in the firewall, or VPN.
Greater speed than on-premises solutions since cloud download speed is higher than client site upload speed.
Affordability, as it eliminates the need for multiple APIs and requires fewer IT resources for provisioning.
Plentiful features and analytics that are otherwise either slow to produce or computationally inaccurate.

The rollout of the new Remote Guarding platform is slated for Q3 2022.

Marketing & Sales:

In the first five months of 2022, Cloudastructure has bookings of $9M*, which represents a 700% increase over 2021, thanks to multiple enterprise clients contracting for AI Surveillance, with a planned 12-month rollout to more than 1,000 locations nationwide.

The company reported an additional $19M currently in the sales pipeline, citing intense growth from multi-site operators in the areas of: real estate, education, restaurants, banks, auto dealerships and distribution centers.

In terms of marketing, the company has garnered significant trade media attention and awards. Having been declared "Security Innovation of the Year 2022" at the global Cloud Awards in January, Cloudastructure went on to win Platinum at Security Magazine's GOVIES in the Cloud Solutions category. More recently, Cloudastructure was tapped by the American Business Awards for four Stevie Awards:

Achievement in Revenue Generation (GOLD)
Best New Cloud Service/Application (GOLD)
Best New AI/ML Solution (SILVER)
Company of the Year in Business Services (SILVER)

Financials and New Reg A+

In addition to the expansive bookings, pipeline growth and strong cash position, Cloudastructure qualified a new Reg A+ offering (see offering circular here). This is the second Reg A+ for Cloudastructure, after their initial Reg A+ delivered more $31M in investments by early 2022. Cloudastructure's new online warrant portal saw another $2.7MM in funding during the initial month of availability, beginning in January 2022.

Units in the original Reg A+ were $1 per unit (two shares plus one warrant exercisable at $0.75 a share). The company raised the price of the initial Reg A+ to $1.20 per unit (two shares plus one warrant exercisable at $0.90 per share).

The new Reg A+ offering, which qualified on May 19, 2022, is selling units at $2.00 per unit (two shares plus one warrant exercisable at $1.50 per share.)

The warrant portal for warrant holders has also been reopened with the new qualification. Shareholders with warrants that were due to expire during the 3 months while the SEC reviewed the new Reg A+ have been granted a 30-day extension period to exercise them.

Bookings and pipeline numbers are unaudited and subject to change which may be significant. Contracts can be canceled at any time. The value of contracts is not guaranteed.

Cloudastructure CEO Rick Bentley commented, "We continue to develop the most cutting-edge, cloud-based, end-to-end security system in the market in order to meet the needs of enterprise businesses: a scalable solution that combines artificial intelligence and machine learning with true cloud integrity, so businesses can optimize security while reducing costs. Our efforts show in these results. Cloudastructure is accruing new customers at a fast pace, while the trade media continues to recognize and reward the remarkable engineering feat our platform continues to be."

About Cloudastructure:

Headquartered in Miami, Florida, with R&D in Silicon Valley, California, Cloudastructure's award-winning surveillance video management system is designed and supported by world-class technical resources drawn from five continents. The platform's unique architecture enables AI and computer vision for scalable, flexible, cost-effective security and eliminates the resource-intensive management and data risks of on-premises solutions. Cloudastructure enables a unified view of multiple sites for motion, facial recognition/detection, anomaly detection, object counting, LPR, advanced analytics, and compliance and delivers up to a 75% lower total cost of ownership than other systems. For more information, visit www.cloudastructure.com.

*Bookings numbers are unaudited and subject to change which may be significant. Contracts can be canceled at any time. The value of contracts is not guaranteed

SOURCE Cloudastructure, Inc