Solink Corp., a cloud video surveillance company, announced today that it has raised $60 million in new funding to expand its global coverage and to invest in the future of physical security through new artificial intelligence-native products.

Founded in 2009, Solink offers a security platform for secure and real-time access to security cameras and pertinent business intelligence. The platform proactively captures and audits video and transactional data to reduce fraud.

The company’s Video Management System is said to optimize clients’ existing security cameras, rendering them searchable and accessible via cloud-based technology. Along with being able to be adapted to existing setups, the platform also offers hardware and software built for business owners and information technology and security teams.

Features of the platform include solutions for forensic security and real-time active security monitoring, catering to the specific needs of various industries. Clients can use Solink to manage after-hour alarm systems with video verification, monitor unauthorized access control and optimize service speed for patrons. The features are centralized and readily available via a web or mobile app.

The company claims that the physical security sector is currently at a pivotal point amid rising crime rates and the financial strain of maintaining unprofitable brick-and-mortar stores. Solink argues that legacy solutions have largely failed to innovate and meet customer needs.

Solink helps customers manage their security by coupling data from more than 200 different systems with security cameras. Doing so aids in identifying suspicious activities and establishing safer environments. On average, customers report seeing a return on investment in Solink’s system in under 30 days, the company claims.

It services over 18,000 customer locations in 15 countries and counts among its customers Gap Inc., Old Navy LLC, Dollar Tree Inc., T-Mobile US Inc., Nike Inc., Chick-fil-A Inc. and Lululemon Athletica Inc.

Goldman Sachs Asset Management L.P. led the Series C round, with OMERS Ventures Management Inc. and BDC IT Ventures LP also participating. Including the new round, Solink has raised $94.1 million to date, according to data from Crunchbase.

“Physical security is essential to managing the operations and profitability of most enterprises and small businesses globally,” Mike Reilly,  a vice president in the growth equity business of Goldman Sachs Asset Management, said ahead of the announcement. “After conducting a deep dive in 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 modernized solutions.”

Image: Solink