Solink, an American company with a UK office, has received an investment injection to expand its operations worldwide. Solink secured a $60 million (USD) Series C investment round. The round was led by the Growth Equity business within Goldman Sachs Asset Management (Goldman Sachs) with participation from the company’s existing investors, OMERS Ventures and BDC IT Ventures. The investment from Goldman Sachs comes from its recently launched $5.2Bl growth equity fund, dedicated to investing in high-growth businesses with strong market positioning and durable business models.
Using data from over 200 different systems, Solink helps companies identify suspicious activity and create a safer work environment for customers and employees. The company claims that a Solink customer’s ROI is usually achieved in less than 30 days.
“This investment will accelerate our plans to expand our global coverage and allow us to invest in the future of physical security through new AI-native products. We want to partner with businesses to be their co-pilot, bubbling up the most pressing risk and helping them action it”, said Michael Matta, CEO, Solink. “Our relentless focus on helping customers protect their People, Patrons and Profits won’t change.”
Solink opened its UK office a year ago to manage its expansion into Europe, the Middle East and Asia.
Solink’s platform provides secure and real-time access to security cameras and business intelligence, helping organisations identify risk and transform operations. Solink’s Video Management System (VMS) uses customers’ existing security cameras to make them searchable and accessible in the cloud. The market for cloud-managed video surveillance, also known as Video Surveillance as a Service (VSaaS), is expected to grow at 80% per year, according to market analyst firm Novaira Insights.
Solink provides cloud solutions to more than 18,000 customer locations worldwide. Amongst its customers are Tim Hortons, The Container Store, PGA TOUR Superstore and other leading retailers, restaurants, financial services, healthcare, hospitality, manufacturing and logistics, property management and education, among others.
Solink’s platform meets the unique needs of different industries by offering real-time active security monitoring and forensic security solutions. Managing after-hour alarm systems can result in over 40 per cent of apprehensions, monitoring unauthorised access control at any building, or managing patron service speed. The opportunity to centralise data and decision-making is available through a web or mobile app.
“Physical security is essential to managing the operations and profitability of most enterprises and small businesses globally. After deep diving into the physical security and VSaaS space, our team identified Solink as the up-and-coming leader in a market undergoing a rapid transition to the cloud and modernised solutions. Goldman Sachs is excited to partner with Mike Matta and the Solink team as they continue to gain market share due to their deep commitment to innovation, unwavering focus on customers, and a product that is a step ahead,” said Mike Reilly, a Vice President in the Growth Equity business within Goldman Sachs Asset Management.