Eyewitness Surveillance, a provider of innovative remote video surveillance and monitoring services for automobile dealerships and other properties with valuable equipment or other assets, has received an equity investment from a syndicate of investors.
The round was led by Peterson Partners, which committed $2m from its $50m Fund VI, with participation from The Cambria Group and several individual investors.
In conjunction with the transaction, Brandon Cope, partner at Peterson Partners, will join Eyewitness Surveillance’s board of directors. Following the investment, the company’s founder Larry Adler will remain in a sales and business development leadership role.
The company intends to use the funds to expand its market share geographically within the automobile dealership market. Already strong in Maryland and Virginia, Eyewitness Surveillance plans to roll out its services in major markets throughout the U.S. and establish a presence in other key market segments, including construction sites, cell phone towers, rail and cargo depots, solar panel yards and other sites with concentrations of valuable assets.
Led by CEO Rush McCloy and President RT Arnold, the company employs cameras, motion detectors and two-way communication systems placed strategically throughout customer sites, which enable security specialists viewing the properties on large screens in remote locations to observe and manage multiple sites.