What is Evolv?
Evolv Technologies Holdings, Inc. specializes in the development and deployment of artificial intelligence-based weapons detection systems. Its core product suite, including the Evolv Express touchless screening platform, is engineered to identify firearms, improvised explosive devices, and tactical knives without the traditional bottlenecks associated with legacy security checkpoints. Complementing this hardware, Evolv Insights provides enterprise-level analytics, offering operators granular visibility into visitor flow, alarm statistics, and system performance metrics. By integrating machine learning with physical security, Evolv is redefining the standard for safety in high-traffic venues, including stadiums, hospitals, and corporate campuses.
How much funding has Evolv raised?
Evolv has raised a total of $167.3M across 7 funding rounds:
Private Equity
$11.8M
Private Equity
$8M
Series B
$18M
Series A
$10M
Series C
$30M
Debt
$14.5M
Debt
$75M
Private Equity (2013): $11.8M, investors not publicly disclosed
Private Equity (2016): $8M, investors not publicly disclosed
Series B (2017): $18M supported by General Catalyst, Lux Capital, Gates Ventures, and Data Collective
Series A (2019): $10M featuring Horizons Ventures
Series C (2020): $30M backed by SineWave Ventures, Finback Investment Partners, Lux Capital, General Catalyst Partners, DCVC (Data Collective), and Bill Gates
Debt (2021): $14.5M, investors not publicly disclosed
Debt (2022): $75M led by Silicon Valley Bank
Key Investors in Evolv
General Catalyst
General Catalyst is a prominent venture capital firm that partners with founders to build enduring enterprises, providing both strategic capital and operational expertise to companies at critical inflection points.
Lux Capital
Lux Capital is a New York-based venture firm focused on the intersection of science and technology, backing frontier companies in sectors such as AI, robotics, and defense.
Bill Gates
Bill Gates is a prominent investor and philanthropist who supports innovative technology companies that address global challenges through advanced research and development.
What's next for Evolv?
Looking ahead, Evolv is positioned to leverage its recent capital injection to accelerate product innovation and expand its international footprint. The strategic focus remains on enhancing the detection capabilities of its AI models while deepening the analytical utility of its software platform. As the company transitions further into its enterprise-level lifecycle, the emphasis will likely shift toward scaling sales operations and forging deeper partnerships with global security infrastructure providers. By maintaining its commitment to frictionless, data-driven safety, Evolv is well-equipped to capture a larger share of the burgeoning smart-security market, ensuring long-term value creation for its stakeholders.
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