Atlanta surveillance startup Flock Safety raised $150 million amid a nationwide spike in homicides that’s increasing as pandemic restrictions are lessening.
The startup produces cameras for neighborhoods and police departments that analyze cars and licenses plates to help investigate crimes.
Flock Safety’s goal is to reduce crime in the U.S. by 25% in the next three years, according to a news release.
Inside the deal: Andreessen Horowitz, a leading Silicon Valley venture capital firm, led the Series D round of financing. Existing investors Meritech, Bedrock, Matrix Partners and Initialized also participated. Andreessen Horowitz says the startup’s use of machine learning, computer vision and sophisticated software allows it to produce a network of cost-effective cameras that “make our communities safer.” The round brings Flock Safety’s total investments to about $250 million.
About the company: Founded in 2017 by CEO Garrett Langley, Flock Safety has cameras in more than 1,200 cities across the U.S. The company has more than 200 employees and saw a 400% revenue increase in 2020. The startup is tripling the size of its Atlanta office in Westside Provisions and has about 50 job openings for Atlanta and remote positions. Langley started the company after his car was stolen, aiming to provide more evidence for police to solve property crimes.
Now, the cameras could be used for violent and nonviolent crimes, such as solving homicides or stopping armed robberies. Flock Safety says its devices can reduce crime by more than 70% and help police solve more than 185 crimes per day. The cameras do not have facial recognition capabilities and are not used for traffic or immigration enforcement, according to Flock Safety. The footage is encrypted and deleted after 30 days.
Why it matters: Rising crime rates and a need for cost-effective tools for police departments with tight budgets are fueling its growth. Crime rates declined 62% in Cobb County and 30% in Marietta after Flock Safety installed its gear and worked with police in those areas, Langley said. The Buckhead Community Improvement District installed 28 cameras and license plate readers last year. The cameras could be a tool in investigating rising homicide rates.
The Series D round comes about seven months after its previous funding round, demonstrating the startup’s success in deploying capital and scaling the company. Flock Safety has surpassed a $1 billion valuation, joining the ranks of a handful of other successful Atlanta startups that reached this milestone. More high-growth companies in Atlanta creates more jobs and solidifies the city’s positioning as an innovation hub.
What they’re saying: "Atlanta is my home, and all of us want our homes to be safe. I feel a great moral responsibility to be a part of the solution to solving crime in my hometown. And this capital will help us in our commitment to reducing crime throughout the entire Atlanta metro,” Langley said in a statement.
