Actuate Raises $8 Million, Aims To Be Unicorn
Actuate has raised $8 million, increasing customers by 10x in 2020, and aims to be a Unicorn, the company's founders told IPVM.
In this note, we share feedback from the company's founders looking at where the company is growing, what it aims to become, and what challenges we believe the company will face.
**********
******* *** ********** ********** ** (*** **** **** *******)*** ******* **** *****-***** *** ********* but *** ******* *** ***** ******** to ******* ******** *********. *** *********, alone, ** * *****, **** ****** the ***** **** ** ***** ************ analytics.
**-********
**** **** **-******* ***** ***** ****** ***** ** ***** ** * US ******, ****** ******, ** **-********* ** ******* *******, who ********* *** ******* ***** *** detection *********. **** *** ********** ** Chicago ***** *** *********.
Revenue, *********, *******
***** *** ******* *** *** ***** specific *******, **** *** *********** **** annual ******* *** ** *** ******** of *******, **** **** ********* ***** total ********* *** ** ****, **** ~100 ** **** *,*** ***, *** are ********* **,***+ *******.
** ******** *** ********* *** $** to $*** *******, ***** ***** ****** rate *** *** ***** ** ******** in ****-***** ******** ******** *********. ***** Actuate *** *** ******* ** *********, they ************ **** **** ******** * lot ** ******** **** ** *****.
Unicorn ********
******* **** ** ** * ******* (i.e., * ******* **** * *******-****** valuation). **** *** ********** ***** ******* currently (*.*.,***** ** * ******* **** **** revenue ** ~$* *******), ** *** *** ** **** hard *** *******. **** *****, ***** is ****** ** ******* *** ******* would **** ****** **** ** ***** $50 ** $*** ******* ****** ******* to ******* **** *********.
Employee ***** / ******
******* **** **** **** ~** ********* currently *** *** ******** ** ******* triple ********* ** *** *** ** 2021.
Product ********
****** **** ******** ******** **** ********, Actuate ***** **** ******** ******* *** do *** ****-** ********* ** *********** hardware, ***** ***** **** **** **** broadly *** **** *** ******** ********* (something **** ** ******* * ******** for ********* *******,*****, *******, ***.).
****** ******** **** *** *********, **** now ***** * ‘****** *********’ ********* suite ** ********* ‘********’ ‘******’ *** ‘behavioral’ – *****, ****, ****/****, *********, etc.
Go-To-Market, ****** **********, *** **********
**% ** *******'* ********* *** ***** between ****** ********** ********* *** ********** customers. **** ** ***** ******** ***** are ****** ********* ** ******* ************ (because *** ****** *** ******** ******* and *** ****** ***** **** ******** security *****). ******* ***** **** ***** "1,000 *********" ******** ********* ** ***** remote ********** *********.
*******
******* **** ***** ******* ** ** the ***** ** $* - $** per ******, ******* ** ***** ** analytics, ******, ***.
*** ******* / ********* *** **** separately *** ******* ******* *** *** analytics ****.
Avigilon / ****** ******** **********
******* ****** **** ** ** **** expensive ** *** *****-**** ******* *** their ********* **** ******-**** ******** ****. Additionally, **** ********* ******** ********* **** gun ********* *** **** *** **** detection **** *** *** ***** ******** in *******.
************, ** ****** *** ******** ** why *** *** ********'* ********* ******* (*** ******* ******** ** *** ********) *** **** ********** **** ***** users *** **** ***** ** ****** lower ****, ***-******** *******, *** ***** their *******.
** ***** **** ***** *** **** depends ** **** *********** ****** *** would *** *** *** **** **** are ****** ******* *** ***** (*.*., at $** *** *****, **** **** $1,000+ ** * *****, **** **** enough ** *** *** ****-*** ****, Avigilon, *****, ***. *******).
Risk - ****** *********
*********, ******* *** ** *********** **** so *** ******************************** ****-******* *********. ***** ******** ******* and ****** * ******* *** ** a *******, *****-**** (** *** **** term) ******** *** **** * ********.
*** *********** **** ** **** ****** manufacturers ** *** **** ** ** commoditized ** ********* ********* **** ******* and *** ****** ********* ** ******** to ******* ***** *** ******* *********. As ***** ******** ** ******* (*** the **** ******** *************** **** *******), Actuate **** **** ********** ********** ** why ***** ****** *** **** **** it ** ***** *** '****' ** camera ** ******** ********* ** *** their ********.
Execution, *** *&*
****** **** ***** ******** ******** **** emphasize *&* ** ******** ********, ** the ***-**** ******* *** ******** ******* accounts ** ** **, ** **** have * **** ****** ** ****** a ******* ******* *** ******** ** existing ******* **** *** ******* *** ways ** *** *********.
**, **'* ***** ******** *** ** but **'* ** ***-** *******. ***** this ******* *** ***** ******, ** might *** **'* ***** * ***** relative ** ****** ********* **** ** overall **** **** ****** ****.
****** ********* ** ** *** **** early ****. ** **** **** ******* years (**** **** ********) ***** ** will ****** * **** *********** *** software **** ***** ********* ********* ** severs ****/**** **** ********* *************. ** that **** ***** ********* **** ***** video ********* ************ ** ** ******** on **** *******. ** ** ******* we **** *** ******* ********* ** we **** *** ****** ****** *** apps *** **** ******* *********** ******* dominate ******* ** ***.
**** * ** *** **** ** that *** *** ** * **** unicorn **** ******** ********/****** ***** ********* capabilities. *** ** *** *** ******* (governments, **************, ******** ***************, ************** ****, big ***********) **** ***** * **** solution (*** **** **** *** ** is ******** ******* **** *** ******** hundreds/thousands ** *******). ** ***** **** be ******** *** ******** ********** ******* abd * ****** **** ***** *** in ***** **** **** * ****** of ******* *** ***** *** ****** for *** **** ** *********.
*** ***** ** ******* ** *******, claims ******** ** ****** **,*** *******, speculate ***** **** ****** ****** ****** Brooklyn ****** ********:
******* ********* ***:
- **** ******** ****** ***** **** ~13,000 ** **,*** (** ** *** morning ** **/**)- ********* ********** ****** ********* ******** by **
*** *******, ** *** **** **** told ** **** "**** **** ********* their ***** ********* *** ** ****, from ~*** ** **** *,*** ***, and *** ********* **,***+ *******."
** ********* **** *********, *** ******* *** **** **** were "*** *** *** ***** $* million" *******.
******* *** ******** *** *** ****** **** **** 100 ******* *** ***, ***** ** equivalent ** *,*** ******* *** *****:
***** ********, ** ******* ** ***.* cameras **** **** ***** *** *** (excluding ********) ** ******************.
**** ** ***** ********* ** *** of *** ****** *********. **********, ***** superintendent ***** ***** ** **** ***** schools, ** **** ** **, *** wants ** ** *********** ** ** their ****** *******. ** *** ******* into ** ***., *** ** *** don't **** ****** ***'* ****** ***** hands ** **.
*******, ************. * **** ***** *************** tend ** ***** **** ***** * bit, *** **** **** ***** ** about ******* ******** **** **** ** incorporate ** ***** *******. **** ** pretty **** *** ** ***** ** installing ****** ** **** ******* ** about ** ********* ******* (* **** those *********** **** **** ********* **********, but **** **** **** ********** ** vape *** ***).
*********** *******. **** *** *** *** opportunity ** **** *** ******* *** compare ** ******* ******** ****?