Solink, an Ottawa-based company that develops loss prevention solutions, has announced that it has received $5 million in financing from US venture capital firm Generation Ventures, ScaleUp Ventures, BDC Capital’s IT Venture Fund, and Valor Equity Partners.
This round of funding will be used to pursue global growth for the security platform, which allows businesses to access their video streams and transactions online, while it audits surveillance video to notify users of suspicious events. The company launched in 2016 with the mission to transform the way businesses manage video, security, and data.
“With so many hours of surveillance video recorded, businesses need Solink to proactively identify fraud and deliver business insights.”
– Mike Matta, CEO of Solink
“We are pleased to have secured the confidence, commitment, and ongoing support of investors with a track record of success in supporting iconic companies,” said Mike Matta, CEO of Solink. “Together, we will be able to meet the growing demand for our solution while making surveillance video a source of insight, instead of just an insurance policy. With so many hours of surveillance video recorded, businesses need Solink to proactively identify fraud and deliver business insights.”
According to Solink, its software-based security solution uses video and data to automatically learn behaviour that leads to internal and external theft.
“I needed an efficient way to get to the information that was locked inside all of my video content,” said Chris Alihemmat, a Church’s Chicken franchise owner. “So, I looked for a solution that could easily connect to my existing POS and use my existing cameras, and that’s when I came across Solink. What’s more, the analytics Solink delivers are nothing short of amazing. I can find specific details, check transactions, search events and look at graphs in seconds.”