Crowd Vision raises growth capital for airport and event safety
Live crowd analytics company's technology was used at the London Olympics and for the annual Hajj pilgrimage to Mecca
Crowd control technology specialist Crowd Vision has announced a “significant” growth capital round led by US investors to drive growth.
Established in 2011, Greenwich-based Crowd Vision uses advanced live video analytics to measure the flows of people accurately in real-time and can gauge insights on numbers, crowding and queuing.
It has recently been working with airports including London City, and its technology has previously been used to “ensure safety” at the 2012 London Olympics and in Saudi Arabia for the annual Hajj pilgrimage to Mecca.
While the investment amount is yet to be disclosed, the deal is said to represent a partial exit for the company’s early stage investors which includes the Angel CoFund; the UK government-backed angel investor network.
Crowd Vision CEO and co-founder, Fiona Strens, commented:
“We see this investment as a real boost as we move on to the next stage of Crowd Vision’s development. [We] will continue to manage the business and, like the Angel CoFund, many of our existing angel shareholders are staying on to participate in the next phase of growth too.”
On its partial exit, the Angel CoFund’s investment director, Tim Mills, said:
“The growth capital announced today […] will allow us to recycle that funding back into new British businesses, whilst still keeping a share of future value growth of the business.
“Crowd Vision is a great success story and having been involved since the early stages it’s fantastic to see the team given this endorsement to take the business to the next stage of growth.”