Solink raises $5 million for surveillance video auditing software

solink

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.”

Aeman Ansari

Aeman Ansari

Aeman Ansari is a freelance writer who has been published in many Toronto-based publications, including Hazlitt and Torontoist. When she’s not re-watching Hitchcock movies, she’s working on her collection of short fiction inspired by stories from her grandmother, one of the few women in India to receive post-secondary education in English literature at the time.

  • Julia Chelaru

    This ties in with the rising trend of employee surveillance… Though evidently this solution is intended to reduce the costs associated with theft, it also sets a precedent of inherent distrust in the employee/employer relationship. Other tools I’ve come across include Crossover, (monitors focus by taking photos of remote workers every 10 minutes through a webcam) and Wiretap (used to covertly monitor conversations on Slack). Anyway, curious to see how employees will react to Solink’s technology being rolled out across stores…

    • Mike Matta

      Thanks @juliachelaru:disqus – good observations . I’m Mike the CEO @ Co-founder at @Solink. I wanted to address some of your comments above. Though there is a general sentiment of distrust by some business owners I would argue that most of our customers are looking to bring value to something they already have that’s collecting dust, namely “surveillance video”.
      We hear a lot of customers tell us that the time they spent trying to find, retrieve and share an incident that occurred on their premise is a painstaking process.
      Moreover, most of the incidents that lead to business owners going “back to the tapes” is very reactive. Someone often escalates a concern which starts the “investigation” process. Ultimately this reactive process means business owners miss the bulk of the activity they SHOULD care about because nobody raises it to their attention. Solink does NOT use humans to analyze video, but rather, we have algorithms to forensically comb through the data to identify outliers based on risk score and the repeatability of an event.
      Many of our customers use video for more than just security (or risk). They can assess how many customers are in-store or cleanliness of the store or products properly displayed. This allows owners to have a continuous feedback loop with their employees or managers to help train and coach to brand standards. Some of our customers even bookmark “best practices” in our app to review at their “all staff” meetings.
      Video is irrefutable – the ability to go back and say “Sally, you did a great job with this customer – you went the extra mile and we’d like to recognize your efforts across our team” means a lot.
      Business owners have their livelihood invested in the business. Video is currently an under-utilized tool that can do a lot more with @Solink

    • stephen beamish

      Hi Julia, I understand the concern however, I’d like to think of it as a proactive cautionary solution to ‘potential’ theft. I’m sure you have heard how retail stores often pass on the cost of theft to all consumers – so we all end up paying more in those instances. In retail they also have security wandering around in plain clothes watching for potential theft. Solink is really an advanced realtime software solution that ends up protecting us all ‘should’ a theft occur.