Local Security/ EyeQ invest US$25mn in video monitoring tech
EyeQ Monitoring is one of the largest providers of live video monitoring in the United States. With Local Security it has invested $25 million in a growth fund to support the video monitoring industry.
With this new partnership, solutions providers will be able to access capital from the 25 million dollar growth fund to grow their video monitoring portfolios.
"We are incredibly excited to be able to partner with Local Security and other innovative solution providers who have wanted to better serve their customers with remote video solutions but previously didn't have access to reliable partners to do so," said Markus Scott, CEO of EyeQ Monitoring.
Critical funding to help its partners meet their goals
Already planned are investments by EyeQ into customer acquisition, system design and implementation. It is also expected that the fund itself will grow.
As well as giving solutions providers access to capital from the fund, it will also non-profit organisations. To support these organisations the fund will allow them access to special capital for facilities improvements and lone worker solutions.
"Local Security is committed to partnerships with communities and the organizations that use cutting-edge technology to secure them," said Adam Power, CEO of Local Security.
"Our partners can now access the critical funding required to meet their goals. EyeQ is a clear thought leader in the marketplace, with a reputation for service delivery excellence. We are excited to bring their expertise into our partner ecosystem," he continued.
Pilots are currently underway in Canada and expansion to the USA is planned for Autumn 2021.
Exciting partnerships to provide much-needed capital
Established in 2007, EyeQ installs and maintains the latest video surveillance technology across the U.S. and employs and trains agents to monitor those systems remotely at all hours.
The company have been looking to make investments in the industry and are excited by the partnership with Local Security.
Timing was crucial for this partnership. Scott expanded on this saying: “Although we have been excited about making this investment in the industry for several years, we felt it critical to first ensure we had a high-quality product and training team available to assist our partners not only sign-up customers; but also ensure their long-term satisfaction. With more than a decade in remote video solutions, we are now excited to not only offer those operational resources and experience but also to provide much-needed capital to help our partners grow their business well. We are even more excited for the partnership with Local Security as they also are building solutions that not only differentiate their partner ecosystem but that will enhance the efficacy of our services and all emergency responders."