Tracker Capital Management has acquired Reston, Virginia-based Presage Security, a technology venture. No financial terms were disclosed. Lowenstein and Sandler LLP served as legal advisor to Tracker Capital.
NEW YORK–(BUSINESS WIRE)–Tracker Capital Management, LLC (“Tracker Capital”), a stage-agnostic venture capital investor that principally invests in emerging technologies, today announced that one of its affiliates has acquired controlling interest in Presage Security (“Presage”).
Based in Reston, Virginia, Presage is a recently established technology venture applying machine learning and advanced mathematical processing to the analysis of video imagery, with a wide range of emerging applications in healthcare, security, and authenticity verification.
“Tracker Capital’s investment and partnership will significantly enhance our ability to deliver innovative solutions to our customer base,” said Mark Oliver, Founder and Chief Executive Officer of Presage. “Tracker Capital brings extensive expertise in our target market segments and together, we will be able to successfully scale our enterprise to meet the growing needs of our customers.”
David Robertson, Managing Director at Tracker Capital, commented: “We are pleased to partner with Presage, particularly at this exciting time in the company’s development. With its innovative technology and widespread applicability, we believe there are significant opportunities ahead for the company. We look forward to working with Mark and the team to help Presage achieve its vision as the market leader in video analysis.”
Lowenstein and Sandler LLP served as legal advisor to Tracker Capital.
About Tracker Capital
A venture-focused investor based in New York, Tracker Capital aims to invest in emerging technologies and companies across various end markets and stages of growth. Tracker Capital was founded by Stephen Feinberg, Co-Founder and Co-Chief Executive Officer of Cerberus Capital Management, L.P., as a separate and independent investment vehicle focused on early-stage investments. In addition to investing resources to fund development, Tracker Capital’s venture-oriented platform provides guidance and operational support to entrepreneurs to help transform their ideas, concepts, technologies, and businesses into proven, sustainable organizations.
About Presage Security
Presage is a recently established technology venture based in Reston, Virginia. The company applies machine learning and advanced mathematical processing to the analysis of video imagery, with a wide range of emerging applications in healthcare, security, and authenticity verification.