Cloudastructure announced it has secured more than $29.6 million in crowd-sourced commitments from more than 10,000 investors and over $22 million in exercisable warrants in its first RegA+ offering.
Since the $29.6 million raise began, Cloudastructure has rapidly grown its sales and engineering development team ten-fold and intends to scale even more in the coming months to achieve its revenue goals.
Cloudastructure’s cloud-based video and surveillance system offers a powerful and affordable tool for businesses to store, index and access footage in the cloud, while eliminating security breaches in the firewall.
Using machine learning computer vision, the system can recognize objects, faces and more. The cloud-based platform also offers an alternative to on-premises solutions, which can be costly to operate and scale and require on-site monitoring.
In terms of scalability, Cloudastructure is most competitive when servicing multiple sites — a customer with 25 locations can maintain 50 separate silo systems with traditional video surveillance systems or utilize just one SaaS solution from Cloudastructure. Of course, with everything in the cloud, all the data stays secure during fires, floods, robberies, or whatever happens to the camera building in question.
With the Cloudastructure platform, cameras distributed throughout an enterprise send video to an on-site cloud video recorder which then sends the video via a secure connection to a cloud-based remote server. Authorized users can log in from any internet-enabled mobile device to monitor the feed in real time and review recorded history up to 10 times faster than a traditional DVR.
Manufacturers, universities and health care organizations have used Cloudastructure’s solution for a centralized view of multiple sites from any mobile device along with AI/ML features such as: rapid search, motion detection, facial recognition, anomaly detection, counting, automatic license plate tracking and mask/no mask detection. These unique capabilities along with the secure cloud-based architecture that offers a 75% lower total cost of ownership separated Cloudastructure from its competitors at the most pivotal time.
With this new capital, Cloudastructure plans to expand sales and marketing to organically grow revenue and continue to invest in R&D to build technology solutions, especially pertaining to computer vision.
“We are humbled that our shareholders are putting their faith in us with this funding round,” commented Cloudstructure’s Founder and CEO Rick Bentley. “This investment not only validates what we’ve built but also enables us to continue pursuing our vision of transitioning all traditional video surveillance to our cloud-based model.”
Bentley added, “The cloud-based video surveillance market has seen considerable growth in 2021, and yet there are still many reluctant businesses. It is estimated that 90% of companies have not made the move to cloud yet and are still relying on antiquated technology to secure their businesses. We started Cloudastructure because we wanted to provide enterprises with a user-oriented, affordable and scalable solution that offers advanced AI/ML capabilities while also remaining extremely secure.”
“Unlike other industries, cannabis retail stores face strict compliance regulations that require 24×7 video storage for 3 months or more,” said Paul Henderson at High Times. “Cloudastructure’s solution allowed us to both store video in the cloud and on premises to meet our complex compliance requirements. The additional AI features such as rapid search, facial recognition and license plate reading are critical features to protect and respond swiftly to any potential incidents at our stores.”