MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Graphic Caption of release should read: Knightscope's 4th round of financing was significantly oversubscribed (instead of Knightscope's 4th found of financing was significantly oversubscribed).
The release reads:
KNIGHTSCOPE RAISES OVER $25 MILLION IN NEW FUNDING
Original Reg A+ “mini-IPO” Offering Significantly Oversubscribed
Achieved Most Successful Funding Campaign in SeedInvest’s History
Security Robots Continue to Win Against Crime Nationwide in Real World Usage
Knightscope, developer of advanced physical security technologies focused on significantly enhancing U.S. security operations, announced today that it has closed over $25 million in new funding from both its recently concluded Reg A+ “mini-IPO” Series m Preferred Stock offering and several related private placement transactions outside of Reg A+. Numerous existing investors, such as Konica Minolta and Bright Success Capital, plus over 5,000 new investors participated in the latest funding activities. Knightscope raised approximately $20 million through the Reg A+ offering and was oversubscribed by over $5 million due to significant investor demand. The company was able to accommodate the oversubscriptions in private placement transactions.
These financings add to the over $14 million closed in the company’s previous three rounds, bringing the total capital raised since inception in 2013 to $39+ million.
Knightscope’s Reg A+ offering is also the most successful campaign in SeedInvest’s history. SeedInvest, a leading equity crowdfunding platform based in New York City, was the exclusive broker-dealer for the company’s landmark preferred stock offering via Reg A+.
“Knightscope’s raise represents a major milestone for the entire equity crowdfunding industry,” said Ryan Feit, CEO & Co-Founder of SeedInvest. “Now that the $20 million mark has been surpassed, we are already seeing additional companies looking to utilize online fundraising to raise growth capital.”
Clients using Knightscope’s autonomous security robots to fight crime began yielding tangible, positive results early in 2017. These successes multiplied as the company expanded its operation into 14 US states to date, accommodating renewals, expansions and newly signed contracts to deploy the service. Knightscope clients have reported that the following achievements are directly attributed to its service:
- Eliminated vehicle break-ins, vandalism and trespassing
- Provided the best evidence to law enforcement on a car-jacking that led to the identification and arrest of a suspect during his attempt to flee the State
- Stopped bike thefts, and enabled the arrest of members of a bike theft ring
- Secured perimeter fencing, preventing ‘jumpers’ from entering a prohibited area
- Enhanced visitor/guest experiences
- Improved employee security/safety survey scores
“It is clear that our investors see, and that our clients are experiencing, the positive benefits behind our ground breaking and market leading technology,” said William Santana Li, chairman and CEO of Knightscope. “We stand firm on our long-term ambition to help make the United States of America the safest country in the world, changing everything for everyone.”
Virtual demonstrations of Knightscope’s technologies help identify the best use cases for qualified potential clients wishing to deploy in the United States. Request a free demo at www.knightscope.com
About Knightscope
Knightscope is an advanced security technology company based in Silicon Valley and builds the ultimate in security guards. Our security robots deter, detect and report…autonomously. Our long-term ambitious goal is to make the United States of America the safest country in the world, changing everything for everyone. Learn more at www.knightscope.com
About SeedInvest
SeedInvest is a leading equity crowdfunding platform that provides individual investors with access to pre-vetted startup investment opportunities. SeedInvest has funded over 150 startups and boasts a rapidly growing network of over 200,000 investors. SeedInvest has had over 15,000 startups apply to raise capital since inception and has only accepted 1% of those companies to feature on the platform. For more information about SeedInvest, visit www.seedinvest.com
Forward-Looking Statements
This release may contain forward-looking statements regarding projected business performance, operating results, financial condition and other aspects of the company, expressed by such language as “expected,” “anticipated,” “projected” and “forecasted.” These statements also include estimates of the pace of customer adoption of the Company’s products, engineering developments and prototype capabilities. Please be advised that such statements are estimates only and there is no assurance that the results stated or implied by forward-looking statements will actually be realized by the company. Forward-looking statements may be based on management assumptions that prove to be wrong. The Company’s predictions may not be realized for a variety of reasons, including due to competition, customer sales cycles, and engineering or technical issues, among others. The Company and its business are subject to substantial risks and potential events beyond its control that would cause material differences between predicted results and actual results, including the company incurring operating losses and experiencing unexpected material adverse events.