HALO, the leading subscription-based bodycam and cloud-based digital asset management platform, today announced it closed a $20M Series A funding round from Boston-based growth equity firm, Volition Capital.
The investment follows rapid company growth fueled by demand for HALO's all-in-one subscription technology that protects people and safeguards businesses.
The global market for Body-worn Camera technology is estimated at $10 billion in 2024 and is projected to reach USD $30 billion by 2030. Originally associated with law enforcement, BodyCam technology is now growing strongly in the private sector and HALO is supporting its customers - spanning retail, healthcare, transportation, private security and law enforcement - to de-escalate incidents, deter crime, capture clear video evidence and enhance employee and public safety.
HALO provides a unified solution to capture full HD video and audio footage, live streaming to its Digital Asset Management cloud platform. HALO's camera fleet is coordinated through advanced IoT technology which allows videos to become available in real time. Once uploaded, videos can be searched, edited, categorised or shared to meet the user's needs. HALO combines a consumer-style user experience with enterprise-grade robustness in a simple, cost-effective, and scalable solution.
RELATED: Derry tech to be used in remote Australian townships through Deal with $A3.5 billion nib Group
"We started HALO with a mission to fundamentally transform the safety and security sector and provide innovative technology that safeguards lives and businesses," said CEO Fiona Shanley. "Various social and economic realities have escalated demand for effective and reliable security solutions that maximise tech budgets and most importantly, protect people. This investment will enable us to continue to scale globally. We plan to invest substantially in further innovating our product, ensuring that we stay at the forefront of our industry and continuously meet the evolving needs of our customers."
The investment from Volition Capital will support HALO's continued investment in advancing its hardware and software platform, with a focus on bringing new AI and analytics features to market and delivering on Open APIs to integrate seamlessly with partner solutions. The capital will also fund market, use case and partnership expansion and the growth of HALO's team in the U.S and Europe.
"There are several converging trends driving increased demand, adoption and growth potential of bodycam and digital asset management solutions in the public and private sectors," said Tomy Han, Volition Capital Partner. "Technology including hardware and software has become a critical part of safeguarding lives and businesses. The use cases for bodycam solutions have expanded well beyond traditional law enforcement and with its subscription-based SaaS model and experienced leadership team, HALO is well positioned to meet the diverse and flexible needs of these sectors globally."
Source: HALO Raises $20 Million as They Transform Safety and Security With Subscription-Based Bodycam and Digital Asset Management Platform (prweb.com)
