Solink Corp, an Ottawa subscription-based fraud prevention solution, has secured $5 million in financing. The round was led by U.S. venture capital firm Generation Ventures and joined by ScaleUp Ventures, BDC Capital‘s IT Venture Fund and Valor Equity Partners. Launched in 2016, Solink has developed a data-driven security platform that captures and audits surveillance video and transactional data to help business customers proactively reduce fraud and obtain insights. It will use the funds raised to pursue global growth. Led by CEO Mike Matta, Solink is also backed by Wesley Clover International.
Solink Secures Additional $5 Million in Funding
US and Canadian investors fuel ongoing growth of Solink’s subscription-based fraud prevention solution.
Ottawa, CANADA – November 1, 2017 – Solink Corporation, a leading cloud-based security solution for video recording, loss prevention, and investigations, announced today that it has closed $5 million in new funding, led by Generation Ventures, with participation from ScaleUp Ventures, BDC IT Venture Fund and Valor Equity Partners.
“We are pleased to have secured the confidence, commitment and ongoing support of investors with a track record of success in supporting iconic companies,” says Mike Matta, Solink CEO. “Together, we will be able to meet the growing demand for our solution while making surveillance video a source of insight, instead of just an insurance policy. With so many hours of surveillance video recorded, businesses need Solink to proactively identify fraud and deliver business insights.”
Solink’s software-based security solution seamlessly integrates with existing cameras and other data systems including point of sale (POS) to protect quick service restaurants, retail stores, and financial institutions. Solink uses video and data to automatically learn behaviour that leads to internal and external theft. Solink turns any camera into a smart camera by layering data and context from other systems and using AI to identify the most important activity.
“I needed an efficient way to get to the information that was locked inside all of my video content,” said Chris Alihemmat, Church’s Chicken® franchise owner. “So, I looked for a solution that could easily connect to my existing POS and use my existing cameras, and that’s when I came across Solink. What’s more, the analytics Solink delivers are nothing short of amazing. I can find specific details, check transactions, search events and look at graphs in seconds. It works simply and flawlessly.”
Customers also embrace Solink because its solution removes the need for proprietary hardware (e.g. DVRs), is always up to date with the latest enhancements, and requires no capital investment. The cloud-based platform transforms the way businesses manage video, security, and data, by proactively identifying fraud and improving loss prevention, while delivering a simple yet comprehensive user experience on their mobile device or desktop computer.
Since launching in 2016, Solink has been growing rapidly with a customer base that extends globally.
Solink is a data-driven security platform that captures and audits video and transactional data to proactively reduce fraud. Solink’s unique Video Discovery application allows users to search for any event, putting an end to manually retrieving evidence by time and location. For a monthly fee, the platform provides everything users need to collect, analyze, investigate and manage their data. Solink’s fraud prevention as a service offering is the first one of its kind to be data driven instead of incident driven. For more information on Solink, or to receive a demo of our solution, visit www.solinkcorp.com.
Photo courtesy of Solink Corp