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Solink raises more than $100M to pull business data from security cameras with AI
Video intelligence company Solink Corp. revealed today that it has raised more than $100 million in new funding.
Solink started out in Ottawa in 2009 selling cloud video surveillance, and its software now uses artificial intelligence to pull information out of the security cameras retailers, restaurants and warehouse operators already have installed. The company said the new money will fund its roadmap for what it calls AI vision intelligence. By its own count, about 500,000 cameras at more than 35,000 customer locations in 65 countries now feed into the platform.
The company added AI agents for perimeter security and loss prevention work in February. Those agents run on edge devices and do not need proprietary cameras. The VerifEye command center that Solink sells to security operations centers gained vision language models a month later, with the aim of filtering out false alarms before an operator ever sees them.
Nobody should need to watch footage to know what is happening inside a business, in the view of co-founder and Chief Executive Mike Matta. He called the present a “watershed moment” for physical businesses. With the new money, Matta said, Solink wants to help customers reduce loss and uncover revenue from their existing cameras.
Toronto-based private equity firm Vertu Capital led the round. Goldman Sachs Group Inc. also put in a material amount through Growth Equity at Goldman Sachs Alternatives, according to Solink. The bank’s asset management arm led the company’s $60 million Series C round in July 2023. Golub Growth and Comcast Ventures came in as new investors.
Eric Kafka, a partner at Vertu, called AI vision intelligence “one of the most significant opportunities in software today.” Solink, he said, has shown the foresight and execution needed to define the category. Customer adoption and the product roadmap made coming back “a natural decision,” said Mike Reilly, a managing director in Goldman’s growth equity group.
Solink did not disclose a valuation, and it gave no detail on the strategic opportunities it also plans to fund with part of the round. Including the new funding, investors have now put more than $198 million into the company.
Image: Solink
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