Crowd analysis and intelligence software company Armored Things has raised $12m (£8.75m/€10.2m) in Series A funding.
The Armored Things Artificial Intelligence (AI) platform offers facilities and security teams with a real-time understanding of how many people, and how often, are utilising different spaces in arenas, buildings and even across campuses.
The Series A funding was led by Nimble Ventures, with additional new investment from Gutbrain Ventures, PBJ Capital and Micromanagement Ventures. Glasswing Ventures, Will Ventures and iNovia Capital are existing investors and also participated in the round of the funding.
Series A funding usually refers to a start-up company’s first round of significant venture capital funding.
The software has already been implemented by National Basketball Association (NBA) team, the Cleveland Cavaliers, Major League Soccer’s Los Angeles Football Club and the University of Tennessee Knoxville.
Armored Things is placing a key importance on expanding, as the company has also taken on a new chief revenue officer. Jonathan Tice will be joining in the role with a focus on market expansion and will take care of sales, business development and strategic partnerships.
The Armored Things software helps with decision making surrounding crowd density, space utilisation, security, maintenance, as well as the experience of guests.
Nimble Ventures is the lead investor, and the company’s Nathan Mee will join the Armored Things board of directors.
Mee said: “The way people and organisations understand and utilise large venues and institutional spaces is changing dramatically with the advances in mobile technology, internet of things and new security and health concerns.
“Armored Things has positioned itself as an early innovator in what we believe will be a huge and fast-growing market as venue owners and facilities managers respond to these changes and look for new ways to optimise their space and guest experience.”
Julie Johnson Roberts, co-founder and chief executive of Armored Things, added: “The market for crowd intelligence and analytics in sporting/entertainment venues and college and corporate campuses is poised for exceptional growth over the next few years.
“The investment support from Nimble and our new and existing investors puts in a powerful position to capitalise on that opportunity. The deep experience and expertise they add continues to be invaluable as we take the next steps in our growth.”
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