Rhombus Systems Raises $10M Series A to Help Organizations Create Safer Spaces
Rhombus is a leading provider of physical security solutions that are modernizing security cameras and IoT sensors for enterprise organizations.
SACRAMENTO, Calif., Oct. 21, 2021 /PRNewswire/ -- Rhombus Systems, a leader in cloud managed physical security solutions, is excited to announce a $10M round of funding led by Cota Capital with existing investors MSD Partners, Lemnos Labs, and Promus Ventures also participating in the round. This brings their total funding to over $20M in efforts to make the world safer with simple, smart, and powerful physical security solutions.
Rhombus Systems provides smart security cameras and IoT sensors in over 10,000 locations worldwide. The company's solutions have been deployed across many industries and organizations including school districts, healthcare providers, city governments, and Fortune 500 companies.
"At CA, we have deployed over 700 Rhombus cameras with another 500 in the immediate pipeline. The experience has been instrumental in helping us protect our assets globally," said Mark Zikra, Senior Vice President of Technology and Innovation at CA Ventures. "We can distribute cameras quickly, integrate with our broader tech stack, manage our security remotely, and receive alerts when things need our attention. Rhombus has transformed how we protect our environment and gave us the peace of mind we wanted from a smart security camera solution."
With Cota's deep expertise in building enterprise SaaS companies, Rhombus will fund more R&D and build out the sales team to continue providing organizations with a customizable and scalable physical security platform.
"We are excited to partner with Rhombus, who has developed an innovative cloud managed platform that leverages AI powered security cameras and smart sensors to gain critical insights into physical spaces," said Bobby Yazdani, Founder and Partner of Cota Capital. "We look forward to working with the talented Rhombus team as we believe in the company's vision and expertise to address the physical security challenges today's modern organizations face."
Traditional video security systems are siloed pieces of technology that require extensive technical expertise to set up, configure, and use. Rhombus devices come online in minutes without any complex configurations and can be managed from a single pane of glass via the Rhombus Console. Users can access live video feeds, share footage, and receive AI-powered alerts from anywhere around the world through a web browser or mobile device. With this modern approach to physical security, Rhombus is on pace to triple its revenue year over year, as it did the previous year.
"This capital will help us keep up with the unprecedented growth we've been experiencing this year, as well as invest in future product development," said Garrett Larsson, CEO and co-founder of Rhombus Systems. "We're still in the early days of a major technology shift in this industry which is really exciting to us because we see so many opportunities for innovation."
The company is also backed by other notable investors including Uncorrelated Ventures, Portfolia, and individual investors including Michael Stoppelman (formerly of Yelp), Tim Lee (formerly of Sequoia Capital), Sharon Wienbar (formerly Scale Venture Partners), and Suresh Batchu (co-founder of MobileIron).
About Rhombus Systems
Rhombus Systems provides cloud managed video security and IoT sensors for enterprises to better understand their physical spaces. With the Rhombus Platform, organizations can leverage the latest in AI and computer vision to see, manage, and respond to critical physical security events in real-time. The company is founded by industry veterans and is backed by numerous investors including Cota Capital, MSD Partners, Lemnos Labs, and Promus Ventures.
Rhombus Systems is on a mission to make the world safer with simple, smart, and powerful physical security solutions. To learn more, visit www.rhombussystems.com or connect with us via Linkedin, Twitter, or Facebook.
Jordan Shou
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+1-877-746-6797 Ext. 3
SOURCE Rhombus Systems
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