A Fort Worth, Texas, company that is using license plate and facial recognition technology to provide data to third parties recently raised $110 million in funding.
Vigilant Solutions filed three documents with the Securities and Exchange Commission, showing raises of $49.5 million, $49.5 million and $11 million, respectively.
Vigilant Solutions uses imaging and analytics for the law enforcement community, working with state, local and federal agencies to solve crimes. The company partners with Digital Network Solutions, which provides shared data with Vigilant. Digital Recognition Network also shares the technology, although it uses the data for financial services, auto recovery and insurance purposes.
Vigilant Solutions has been cited in San Francisco and Atlanta as the source of data for repo trucks. The technology allows repo men to use high tech cameras that provide them with photographs of license plates, geographic coordinates of the vehicle and the time and date at which it was spotted.
The company sells products that can catalog license plates and human faces by time, data and location and compares that with various databases to help track sought out people and/or vehicles.
The founder of Vigilant Solutions is Shawn Smith, who created the company to help law enforcement combat narcotics trafficking and terrorism. Smith pulled together a team of about 100 video analytic experts to develop a suite of license plate recognition, facial recognition and public record data.
Source: bizjournals.com