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Evolv Technology Announces $75 Million In Non-Dilutive Debt Financing With Silicon Valley Bank

Dec 21, 2022•over 2 years ago

Amount Raised

$75 Million

WalthamInformation TechnologySoftware

Description

Evolv Technology (NASDAQ: EVLV), the leader in AI-based weapons detection security screening, today announced that it has closed a $75 million non-dilutive debt financing facility with Silicon Valley Bank, the bank of the world’s most innovative companies and investors.

Company Information

Company

Evolv Technology

Location

Waltham, Massachusetts, United States

About

Evolv Technology is a leader in weapons detection for security screening, securing the world’s most iconic venues and companies. Our mission is enabling a better experience and better security for venues, creating a safer world to work, learn, and play by transforming physical security to make everywhere safer. We give sports fans, theme park visitors, concertgoers, shoppers, employees, students, and others peace of mind so that they can gather without fear of violence. Our security screening has scanned more than 100 million people, second only to the Department of Homeland Security’s Transportation Security Administration (TSA) in the United States, and our technology combines powerful, advanced sensors with proven artificial intelligence (AI), security ecosystem integrations, and comprehensive venue analytics to reliably detect threats 10 times faster than traditional metal detectors.

FundzWatch™ Score

Medium Activity

Funding Insights

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83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech