Armored Things, a tech startup that uses sensors and AI to monitor crowds, announced Tuesday it raised $12 million in fresh funding. The Series A was led by Nimble Ventures, and nearly doubles the Boston-based company’s total funding raised to $26.8 million.
When Armored Things launched in 2016, it was mainly used to detect security threats in venues. By combining data from a venue’s existing system with predictive analytics, the platform provides real-time insights facility managers and security staff can use to address issues as they come up.
Then, the Covid-19 pandemic created a newfound demand for tracking crowds and, consequently, Armored Things’ software, which is also good at monitoring space occupancy and detecting overcrowding. Over the last 18 months, its software has been adopted in several locations, including sporting venues like the Banc of California Stadium and colleges like the University of Tennessee-Knoxville.
“The way people and organizations understand and utilise large venues and institutional spaces is changing dramatically with the advances in mobile technology, IoT and new security and health concerns,” Nathan Mee, a portfolio manager at Nimble Ventures, said in a statement. “Armored Things has positioned itself as an early innovator in what we believe will be a huge and fast-growing market as venue owners and facilities managers respond to these changes and look for new ways to optimize their space and guest experience.”
Indeed, although we are more than 18 months into this pandemic, the concerns over crowds and social distancing haven’t tapered. Armored Things last raised money back in June of 2020, when venues were beginning to tentatively reopen and normalcy seemed to be just on the horizon. Now, the highly contagious delta variant is in the midst of reversing the nation’s progress in conquering the virus, so the need for software like Armored Things doesn’t appear to be going away anytime soon.
To meet this challenge, Armored Things will use this fresh funding to continue building its platform and team. Most recently, the company hired former FocusVision executive Jonathan Tice as its new chief revenue officer, and plans to bring another 10 people by the end of this year as reported by the Boston Business Journal.
“The market for crowd intelligence and analytics in sporting/entertainment venues and college and corporate campuses is poised for exceptional growth over the next few years,” Armored Things co-founder and CEO Julie Johnson Roberts said in a statement. “The investment support from Nimble and our existing investors puts us in a powerful position to capitalize on that opportunity.”
