KNOXVILLE, Tenn.–(BUSINESS WIRE)–#SaaS–Entrepreneurial family office and growth equity firm Greater Sum Ventures (GSV) today announced its majority investment in STRAX Intelligence Group, a leader in cloud-native sensor fusion and collaboration solutions. The investment follows on GSV’s recent acquisitions of Utility Associates, Inc. (Utility) and SOMA Global, both leaders in integrated technology solutions for public safety and government agencies. Terms of the transaction were not disclosed.
The funding will provide additional capital to increase STRAX’s investment in the innovation of data aggregation capabilities that streamline emergency response. The company’s solutions aggregate live video, data, and sensor feeds from public and private sources to provide a seamlessly interconnected real-time crime center platform for monitoring, detecting, and responding to emergencies. STRAX will continue to be led by CEO and Founder Scott Adams based in Boca Raton, Florida.
“STRAX is a natural addition to our growing suite of solutions that help law enforcement and first responders make communities safer,” said Ross Croley, CEO and founder of GSV. “The STRAX team is dedicated to understanding security challenges and providing targeted solutions to improve both responder and community safety. This combination of best-in-class technologies will enable security organizations and public safety agencies to operate more efficiently and do their jobs more effectively.”
STRAX CEO Scott Adams added: “A key challenge facing law enforcement is limited visibility into emergency situations. STRAX combines inputs from any source – like body-worn and fixed cameras – to create unmatched situational awareness, especially in evolving situations where speed is critical. Together with Utility and SOMA, we can affect positive community outcomes through advanced and highly complementary technology.”
STRAX holds the FBI-approved Criminal Justice Information System (CJIS) ACE Seal, verifying its commitment to CJIS Security Policy compliance and an ongoing pledge to ensure the secure management of sensitive criminal justice data.
About STRAX Intelligence Group
STRAX Intelligence Group provides a common operating platform designed for real-time response. By unifying priority alerts, video and communication tools into one map-based view, the STRAX platform allows public safety agencies and private security organizations to improve collaboration across agencies and command structures for a faster, more coordinated response. Integrated public, private and manned/unmanned video feeds increase situational awareness and real-time access to nearby cameras in a single operational view, enabling expedited decision making and enhancing officer and community safety.
About Utility Associates, Inc. (Utility)
Utility, the innovative technology-enabled service provider recognized for creating groundbreaking digital systems for frontline professions, provides a universe of intuitive products for effectively capturing, managing, and releasing video evidence. Technologies include a variety of cameras, sensors and devices, as well as situational awareness software solutions for law enforcement, first responders, transportation agencies and utility providers. To learn more about Utility and its technology solutions, please visit Utility’s LinkedIn or utility.com.
About SOMA Global
SOMA Global empowers public safety and government agencies to build safer, more resilient communities through modern technology. The SOMA solution streamlines software with a unified ecosystem of pre-built applications, workflows, automations, and data interoperability. Its enterprise platform includes four key suites – critical response, incident management, corrections, and administrative – that empower state and local organizations with the tools they need to better protect the communities they serve. Find more information about SOMA on Twitter, Facebook, LinkedIn, or at somaglobal.com.
About Greater Sum Ventures
Greater Sum Ventures (GSV) is an entrepreneurial family office that invests its own capital in middle market software and tech-enabled services companies. With entrepreneurial roots and strong operational and investing experience, GSV works with select independent co-investing partners to build platforms of technology companies that revolutionize the industries they serve. Headquartered in Knoxville, Tennessee, GSV provides access to capital and operational support to midmarket technology firms all over the world. To learn more, visit GreaterSumVentures.com.
Contacts
Kristin Alm
kristin.alm@greatersumventures.com
(865) 850-6087
