MIAMI--(BUSINESS WIRE)--Shareholders entrusted Cloudastructure with $30 million via a RegA+ to expand their cloud-based video surveillance platform empowered with Artificial Intelligence and Machine Learning analytics. Since that time, Cloudastructure has made significant investments in advancing the engineering of the solution, while hiring sales, marketing, PR and compliance staff for the first time to build brand awareness and engage with B2B customers across a wide range of markets.
Engineering:
Cloudastructure expanded its engineering team at R&D headquarters in Silicon Valley and hired multiple additional engineering staff across four continents. The team was tasked with optimizing Artificial Intelligence (AI) and Machine Learning (ML) video analytic accuracy, advancing the solution’s Rapid Search options, as well as researching customized solutions for a growing list of clients.
As a result of that team’s efforts, Cloudastructure’s video surveillance platform now includes:
People Detection
Vehicle/Object Detection
AI/Analytics
Alerts and Notifications
Security / Enterprise Admin
Marketing & PR:
Cloudastructure also hired a marketing and PR team to build brand awareness. The trade media responded. Cloudastructure has received mentions in such notable media as The Wall Street Journal and Fortune Magazine. Additionally, the trade media awarded Cloudastructure with the following awards in 2021:
And in December 2021, the global Cloud Awards shortlisted Cloudastructure for:
Cloud Award winners are slated to be announced February 8, 2022.
Sales/Financials:
Cloudastructure’s sales team made significant inroads into the market with a focus on vertical markets that include but are not limited to: Real Estate, Cannabis, Manufacturing, Universities/Schools and Government. With this focus, to date the company has seen 1400+ % growth in booked contracts, from $90,000 in 2020 to over $1,300,000 at the close of 2021. Our sales pipeline (the total dollar amount of potential new sales opportunities about which the company is currently in discussions with customers) grew from $60,000 in January 2021 to $10,500,000 by January 2022. Cloudastructure furthermore remains in a strong cash position with $13.9MM.
Acquisition of Visionful:
Cloudastructure also is investing in acquisitions. The company has signed a definitive agreement to acquire Visionful, a leading smart parking technology solution utilized by Stanford and UCSD. The deal is expected to close at the end of January. With real-time dashboards, Visionful can present customers with multi-tenant parking usage data and analytics. Customers can determine who is using their garage and for how long, so that each tenant type can receive accurate billing. The software further provides intelligent decision-making for the development and expansion of existing lots, and most notably, Visionful integrates with CSI’s advanced License Plate Recognition, as well as public safety API’s, so customers can receive alerts when a stolen car, or a vehicle driven by a Person of Interest, is on campus.
Letter of Intent to Acquire Infrastructure Proving Grounds:
Cloudastructure also signed a letter of intent to acquire Infrastructure Proving Grounds (IPG), an IoT cybersecurity monitoring service. IPG’s cybersecurity tool GearBox is a “plug-and-play” tool which inventories devices, performs risk analysis, compliance testing and rogue device detection. This combined with readily accessible normalized data alleviates the level of risk introduced by IoT installations. The acquisition will provide a unique cybersecurity differentiator for Cloudastructure from other video surveillance providers.
Customers:
With anticipated acquisitions, Cloudastructure’s enterprise customers will grow to include such notable entities as JLL, Robinhood, Boxabl, University of California at Santa Barbara, Stanford University, Trinity Property Management, University of California San Diego, City of Little Rock, Los Angeles Unified School District, Docomo Pacific, and Alameda County Health Department.
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