CrowdOptic Raises Funding to Expand Security Features of Analytics Platform for Live Events
SAN FRANCISCO, Oct. 26, 2011 /PRNewswire/ -- CrowdOptic, a maker of crowd-powered mobile solutions for the enterprise, today announced it has raised $500,000 in a new round of funding. The company will use the new capital to accelerate product development in the area of mobile-powered technology for live events and to expand event security features of its platform.
CrowdOptic introduced an analytics platform in September which detects where crowds are focused in real time based on the fans' use of their smart phones. The technology, which alerts event producers in real time to sudden shifts and anomalies in crowd attention patterns, supports extensive capabilities for real-time advertising, broadcasting, and communication during live events, including augmented reality displays. CrowdOptic has seen strong demand for security applications of its technology used to enhance crowd surveillance and intelligence during live events.
CrowdOptic signed pre-eminent security services firm Andrews International in a deal to supply new technology giving the security giant the ability to detect and respond to possible emergencies in real time during the events it oversees. "With CrowdOptic, we will be able to surveil the crowd and support our personnel with a stronger arsenal than onsite security cameras," said Randy Andrews, CEO of Andrews International. "We will be able to respond faster in situations in which every second matters crucially; as well as deploy our resources in a more efficient and effective model."
CrowdOptic works behind the scenes by monitoring the mobile phones in the crowd. The system detects where phones in the crowd are looking by triangulating their angle and bearing, using basic structural features intrinsic to all phones, including their GPS and compass headings. CrowdOptic then applies complex algorithms to detect sudden shifts and anomalies in crowd attention patterns that could potentially signal disruptions or threats. A dashboard and automated alerts system empower onsite security personnel with communication tools that allow them to be more nimble and responsive in the event of a possible threat.
"CrowdOptic has begun to tap the major potential of the mobile devices fans carry to enhance their individual enjoyment for the collective benefit of the entire crowd; One of those benefits is heightened security" said Larry Bowman, President and CEO of Bowman Capital.
CrowdOptic's security engine was created by the team that pioneered pattern recognition used for contextual online authentication that was widely and successfully deployed for online authentication security protecting major commercial websites in consumer banking, eCommerce and other industries. The company that invented contextual online authentication technology, Bharosa, Inc., was acquired in 2007 by Oracle (NASDAQ: ORCL).
About Andrews International
Andrews International, headquartered in Los Angeles, California, is a full-service provider of security and risk mitigation services with operations throughout the United States and internationally. As the largest privately-held, American-owned security firm, Andrews International employs more than 15,000 security personnel, providing uniformed security, consulting and investigative services, personal protection, special event security, specialized training, background screenings, and disaster emergency response services. The company is owned by executive and management team members with investment backing from Audax Group.
CrowdOptic helps event companies monitor and harness the electronic buzz in the crowd. With our unique proprietary technology, we monitor and track what crowds are looking at and what they're photographing and sharing during a live event, all in real time. We allow event organizers to display information on the fans' mobile phones depending on what the fans are looking at. And we alert the enterprise instantly to shifts in crowd focus and momentum. CrowdOptic is a privately-held, venture-backed company based in San Francisco. For more information, visit www.crowdoptic.com.
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