Knightscope, a company developing robot security guards, has closed over $25 million in new funding from both its recently concluded Reg A+ “mini-IPO” Series m Preferred Stock offering and several related private placement transactions.
Numerous existing investors, such as Konica Minolta and Bright Success Capital, plus over 5,000 new investors participated in the latest funding activities. Knightscope raised approximately $20 million through the Reg A+ offering and was oversubscribed by over $5 million due to significant investor demand. The company was able to accommodate the oversubscriptions in private placement transactions.
These financings add to the over $14 million closed in the company’s previous three rounds, bringing the total capital raised since inception in 2013 to $39+ million.
Knightscope’s Reg A+ offering is also the most successful campaign in SeedInvest’s history. SeedInvest, a leading equity crowdfunding platform based in New York City, was the exclusive broker-dealer for the company’s landmark preferred stock offering via Reg A+.
“Knightscope’s raise represents a major milestone for the entire equity crowdfunding industry,” said Ryan Feit, CEO & Co-Founder of SeedInvest. “Now that the $20 million mark has been surpassed, we are already seeing additional companies looking to utilize online fundraising to raise growth capital.”
Clients using Knightscope’s autonomous security robots to fight crime began yielding tangible, positive results early in 2017. These successes multiplied as the company expanded its operation into 14 US states to date, accommodating renewals, expansions and newly signed contracts to deploy the service. Knightscope clients have reported that the following achievements are directly attributed to its service:
- Eliminated vehicle break-ins, vandalism and trespassing
- Provided the best evidence to law enforcement on a car-jacking that led to the identification and arrest of a suspect during his attempt to flee the State
- Stopped bike thefts, and enabled the arrest of members of a bike theft ring
- Secured perimeter fencing, preventing ‘jumpers’ from entering a prohibited area
- Enhanced visitor/guest experiences
- Improved employee security/safety survey scores
“It is clear that our investors see, and that our clients are experiencing, the positive benefits behind our ground breaking and market leading technology,” said William Santana Li, chairman and CEO of Knightscope. “We stand firm on our long-term ambition to help make the United States of America the safest country in the world, changing everything for everyone.”