CLOUDASTRUCTURE MID-YEAR SHAREHOLDER UPDATE

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Aug 24, 2023, 07:32 ET

Cloud video surveillance startup announces sales growth, new products and partnerships

MIAMI, Aug. 24, 2023 /PRNewswire/ -- Today, Cloudastructure is holding their midyear shareholder update. The update will feature the multiple recent wins the company has experienced in the first half of the year, most notably in the multifamily vertical market.

Rapidly Increasing Market Share in Multifamily

The AI Surveillance startup's dedicated sales team is currently experiencing multiple wins in the multifamily market. With a recent 50% win rate, the team is in the process of capturing 50% of top 10 Multifamily property management companies in the U.S., per the National Multifamily Housing Council's 2023 rankings on the "Top 50 Apartment Managers."

According to customers, the differentiators that make Cloudastructure stand out in the hotly contested vertical are:

The cloud-based platform enables a uniform view of all properties
The company's camera agnostic policy vastly reduces upgrade costs
Integrated remote guarding software and services

The winning combination means that enterprise businesses within the vertical can transform their traditionally reactive surveillance security into a real-time 21st century crime-fighting tool, saving on losses, on-premises guard costs, software licensing, and hardware.

Recent wins in the vertical market include properties managed by CONAM, Sunroad, Birge and Held, Second Street Fund, and Greystar, the largest multifamily management company in the market.

Cloudastructure is also announcing the closing of their first deal in the senior living vertical market with Wolff Company.

Remote Guarding on the Rise

A year and a half after pivoting to build the first and only fully integrated remote guarding software in the space, Cloudastructure's gamble is paying off. A full 62% of all Cloudastructure proposals now include Remote Guarding software, services and hardware.

The news comes on the heels of Cloudastructure's debut statistics for the effectiveness of remote guarding: in the first half of the year, Cloudastructure's remote guard teams conducted 1260 "Voice Downs" to suspicious activity on client properties. In every single instance, the would-be assailants ceased their nefarious activities, earning the company a 100% deterrence rate on crime. Multifamily customers rewarded Cloudastructure's new service with a 100% Net Promoter Score.

Judges at the Proptech Breakthrough Awards were equally impressed with Cloudastructure's end-to-end real-time security and this month awarded Cloudastructure with the "Residential Data Management Platform of the Year" award.

Scaling Deployment

Cloudastructure's new installation team is equally making strides to ensure customer success, announcing the company has:

Increased efficiencies and cut deployment time per location in half
While managing to simultaneously install at 5x as many customer locations, year over year.

The company has a plan to further ramp up deployment in Q3 and Q4, with an impressive slate of 14 expected installations in September.

Cloudastructure is announcing new partnerships with Spectrum and Intelisys to further aid deployment schedules, so that customers can rapidly optimize their bandwidth as needed.

137% YOY Increase in Hardware Sales Leads to Partnership

While Cloudastructure remains committed to being camera agnostic for the sake of their customers, the company experienced a 137% YOY increase in hardware sales due to customers making additions or upgrades to their existing surveillance camera systems. The boom has led to a non-exclusive partnership with camera manufacturer Sunell Security to supply the AI surveillance and Remote Guarding company with surveillance cameras, speakers, and other hardware.

Conclusion:

With a 101% increase YOY in subscription and hardware sales for the first half of 2023, remote guarding as a significant differentiator from the competition, dedicated market penetration within the multifamily vertical market, increased efficiency in deployment, and new partnerships to support all security solutions, Cloudastructure is presenting a dedicated vision of the company's future and laying a solid foundation for continued growth.

About Cloudastructure:

Headquartered in Miami, Florida, with R&D in Silicon Valley, California, Cloudastructure's advanced award-winning security platform utilizes a scalable cloud-based architecture that features cloud video surveillance with proprietary, state-of-the-art AI/ML analytics, and a seamless remote guarding solution. The combination enables enterprise businesses to achieve proactive, end-to-end security, and pairs that platform with an attractive value proposition that eschews proprietary hardware and offers contract-free, month-to-month pricing and unlimited 24/7 support. With Cloudastructure, companies can achieve unparalleled situational awareness in real time and thereby stop crime as it is happening, while simultaneously achieving up to a 75% lower Total Cost of Ownership than other systems. For more information, visit www.cloudastructure.com.

SOURCE Cloudastructure, Inc