ShotSpotter Receives $10.5M in Equity and Debt Financing
ShotSpotter, Inc., a Mountain View, CA-based developer of gunshot location and detection technology, closed a $7m equity financing and received a $3.5m credit facility.
Investors include existing backers City Light Capital, Claremont Creek Ventures, Labrador Ventures, Lauder Partners, Levensohn Venture Partners, Norwest Venture Partners, and The Westly Group.
The company aims to use the funds to transform its technology solutions into a new domestic public safety Platform-as-a-Service (PaaS) delivery model, and expand its flagship product, the ShotSpotter Gunshot Location System® (GLS), in the international public safety and security markets.
Led by President and CEO Ralph A. Clark, ShotSpotter develops acoustic surveillance systems focused on improving public and community safety by locating gunshots and other explosive events, and helping reduce and prevent violent gun crime and improving intelligence-led policing and community policing initiatives.