Atlanta crime surveillance startup Flock Safety raised another $150 million about six months after its previous round.
The round comes during a time when violent crime is rising across the United States. Flock Safety is pledging to lower crime rates by 25% in the next three years. This funding will help achieve that goal, Flock Safety CEO Garrett Langley said in a statement.
Inside the deal: Tiger Global, an investment firm that backs big names in tech including Coinbase, Peloton and Instacart, led the round. New investors 776 and Spark Capital and existing investors a16z, Bedrock, Matrix, Meritech and Initialized participated in the round. The Series E funding brings Flock Safety’s total investments to $380 million. The startup, which reached unicorn status last summer, is now valued at $3.5 billion.
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 previously told the Atlanta Business Chronicle. This most recent funding demonstrates Flock Safety’s wide appeal and gives it the capital resources to capture more of the crime surveillance market. Flock Safety is one of the high-growth tech companies solidifying Atlanta’s position as an innovation hub.
How it started: Founded in 2017 by Langley, a Georgia Tech graduate, Flock Safety has cameras in more than 1,200 cities across the U.S. 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. 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.
How it’s going: Flock Safety has 350 employees in 35 states. Revenue tripled and customers doubled in 2021, according to the company. Flock Safety cameras provide evidence to help solve about 2.3% of the reported crime in the U.S., and the company added an audio detection device to create another evidence source for police. The startup has a local office at Westside Provisions District, which it expanded last June to accommodate its rapid growth.
What’s next: Flock Safety is hiring across departments, including engineers, technicians, logistics, marketing and government affairs roles. The startup has about 50 jobs posted on its website. Most engineering and corporate roles are based in Atlanta or remote.
