What is Evolv?
Evolv Technology, headquartered in Waltham, Massachusetts, specializes in artificial intelligence (AI)-driven security screening solutions. Their flagship product, Evolv Express, offers a touchless system designed to detect firearms and other threats, enhancing public safety in high-traffic environments. The company also provides Evolv Insights, a data analytics platform that offers performance metrics and visitor flow statistics. Founded in 2013, Evolv Technology has established itself as a key player in the security technology sector, leveraging AI to create more effective and efficient screening processes.
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 Data Collective, Gates Ventures, General Catalyst, and Lux Capital
Series A (2019): $10M featuring Horizons Ventures
Series C (2020): $30M backed by Finback Investment Partners, Bill Gates, General Catalyst Partners, DCVC (Data Collective), Lux Capital, and SineWave Ventures
Debt (2021): $14.5M, investors not publicly disclosed
Debt (2022): $75M led by Silicon Valley Bank
Key Investors in Evolv
Horizons Ventures
Horizons Ventures is a venture capital firm known for its investments in disruptive technologies and innovative companies across various sectors.
Data Collective
Data Collective (DCVC) is a venture capital firm that invests in companies leveraging data-intensive, AI-driven technologies to solve complex problems.
General Catalyst
General Catalyst is a venture capital firm that partners with founders to build transformative companies across technology and healthcare sectors.
What's next for Evolv?
The recent major strategic investment in Evolv Technology signals a strong confidence in the company's trajectory and its potential to disrupt the security screening industry. This capital infusion is expected to fuel further innovation in AI-powered threat detection, expand market reach, and enhance operational capabilities. As Evolv Technology continues to scale, its focus will likely remain on developing advanced security solutions that balance safety with user experience, positioning the company for sustained growth and leadership in the evolving landscape of security technology.
See full Evolv company page
