Actuate Raises $11.5 Million, Aims To Be Default Analytics Provider For RVM
Three years ago, Actuate raised $8 million, and now it has raised another $11.5 million, telling IPVM it aims to be the default video analytics provider for remote video monitoring providers.
Based on our interview with Actuate's CEO, Sonny Tai, this report examines the company's position and goals after its latest funding round.
Executive *******
***** ************* $**.* ******* ** * ***** up-round, **** ***************-****** *** "*********" ***** ********* * ***** ***** ***** ***. ******* **** ** "************" ** **** ** ** ***** its *** ****** ****** ***** **********. With *** *** *******, ** **** it ** *** ** ***** ** reach ************* ** *** *** ** 2025, ** ******* *** *** ********* want ** ***.
******* **** ** *** **** ** become *** ******* ********* ******** ****** the ****-******* ****** ***** ********** *****, which ****** ** **** ** **** but ***** *** *********** ** ***** a ********* ******** ** ***** ********** providers.
Aims ** ** ******* ********* *** ***
*** **** *******'* ******** **** ** to ****** *** "*******" ********* *** RVM *********:
** **** ** *** ****** ******** on ***** ****** ***** **'* *** going ** ** ******* *********. [...] We **** ** ****** *** ******* solution *** ****.
Raise ******* ** "***** **** ********** ******"
******* *** "****-*********" ** ** ******** its ******** $* ******* *******, *** it *** ***** ***** ** ***** capital ** "***** **** ********** ******":
** ****'* ***** * **** *** Series [*]. ** *** **** * $8 ******* *****, ** ** ****** had ** ** ****-********* *** **** that ******* *******. ** *** ** the ***** ***** ** **** **** we *** **** ********. ** **** like ** *** * ********** ***** process. ** ****** ** ** **** to ***** ** ********** ******* ** drive **** ********** ******.
***** ******* ************* **** ********* *********, Tai's ********** ** ******* ******** ****** classmate***** ****, *** ** *** ******** ******* at**** **** ********, **********'* *** $**.* ******* ******* *****.
"Dilution *********," ******** ************* ** *** *** ** ****
***** $**.* ******* ** ** "**-*****," Tai **** **** **** "** *** a **** *** *****," ** *** company ** "******** *********" *** ********* in *** **** ** *****. *** added **** *** $**.* ******* ** "more **** ******" *** *** ******* to ******* *** **** ** ***** profitability ** *** *** ** ****, as ** *** **** "**** *********" and **** ******** ** ** **, which ****** **** *** **** ******** in **** *****, **** **** ********'* investment ******:
**** **** ********' ********** ****** ** that ********* *** **** ****** ** capital *********, *** **** ****** **** manage ** *************. ***** *****, *** burn ******** **** ******. ***** *****, our **** *** **** ********** ******* annual ********* ******* *** **** *******, [and] ******** ********* **** **** ********** to ******.
******* **** "*********" ********, *** ********* that ******* ***** *** *** ***** raised ** "****** ****" ** *** go-to-market *******, ****** ***** ***** *** be ********* ***** ** ******** ** its ******* ** *********.
*** **** ***** **** *** **** is "*** ******** ******** *** *******" for *** ******* ****** *** ** focused ** ******** *** ******** ****. Still, ** ** **** ** ******* opportunities ** ********* "***** ** *** door."
"Growth *********" ***** ****** * *****
******* *** *** ****** **** *** "repeatable ***** *******" ** ***** ** has ***.
***** *** ************* $* ******* ** *** ****** A ** ******* **** **** ** ***** ** be * *******, *** **** **** Actuate *** **** ****** ********* *** "did *** **** ** *** *** [it] ****** ** ***** ****** *," specifically *** ** * **** ** product-market ***:
***** ** ****** *** ****** *, we ******** *** **** **** ****** headwinds. * ***** ** *** **** customer ** *** **** ******** ************* issues, *** ** ****'* ****** **** a ********** ******* ****** *** ** a ********** ***** *******. ** ** just ****'* ****** **** *** *** that ** ****** ** ***** ******* our ****** *.
***************** **** ** ******* $* ******* in ****** ******* ** ****. *******, **** ****** "******** * large ********** ******** [**] *** **** ended ** ******** ** **** ****," Tai **** ****.
Moving **** **** ********** *********
***** *********** **** ** **** **** **% of ********************* ******* *** ********** *** ****** video ********** ********* **** ****, *** said *** ******* *** ***** **** from ********** **** ***** *** ***** contract ***** ** ***** **** "*** distracting" ** *** ******* ***********:
********** **** ***** ** ***** *** distracting ** **** *** ********** *** GTM *****.
*** **** **** ******* *** ******* on ********** ********* *** ********* ** later ******* *** $* ******* **** again **** *** ********** ********:
** **** ***** **** **** *** DoD ******** ** ***** ****** ** commercials *** **** ******** **** [$* million] ******.
"Turn ******" ** ****
***** *** ********* **** **** * lack ** *******-****** *** ** ****,*** **** ******* "****[**] ******" ** January **** ** ** ******* ** the ****** ***** ********** ******.
*** ********* **** *** ******* ******* its ****** ********* ******* ** **** and ********** ** *** **** ** months ********* *** ******** *** *******, so **** * **** **** ******* than *** ********** ******** $* ******* annual *******.
Annual *******
**** ********* *******'* ******* ****** ******* to ** ** *** **** ******-***** millions ***** ** *** **,*** ****** count, ***** ** **** **, *** the ********** **** ** ******* ~$* to $** *** ****** *** ***** for *** ******** ** *** ******** and $** - $** *** *****, which ***** ** * "********" ** its *******, *** *** *******.
Focusing ** *** ****** ***** ********** ******
********* ** *** ******* ********, ******* is ********** ***** ******* ******* ****** ***** ********** ******, ***** ** "******* ** **% - **% * ****" *** ***** high-performing ********* ** ** ********* ***** proposition:
** ******* **** ****** ***** ******** is *** ****** ** ******** ********. There *** *** ******* ******** ******* deployed ** ** ** ** ******* base. ** ***** **** ** *** future, **** ** ***** ******* **** be ********* ** **** ***. *** the **** *** ** *********** ******* those ******* ** **** ** ** model **** *** ****** *** **** of *** ***** ****** *** **** only ******** ****** ** *** ********** center.
*** **** **** *******'* **,*** ******* are *** ***** ******* ~**,*** *****, counting **** *** ******** ** ***, ~70 ****** *********. ** **** ********* that *** ******* *** "*** ******* retention ** ***% *** **** ***** rate," ***** "****** *******" *** *********.
Doubling ** *** **** ****, ****** ********** ** *** ****** ******
*** **** **** **** "************** ********," Actuate ** ******* ** ****** *** annual ******* ** *** **** **** and **** ******* **% *** **** after. ** ************ ******* *** **** how **** ******* ***** ** ********** by *** **** *** ****** ***** monitoring ****** *****:
*** *** *********** ****** ** *** fast ** **** ** *** **** remote ******** **** *******. * ***** remote ******** *********** **, ** ***** low ***** ***.
***'* *** ******* *********** *** **** growth **** ******** **** **** ***** is * "**** *****," ***** ** a ******** **** *** *** ********* and *** ********* ********* **** *******.
No *** ** *********** ***** ** ** ***
******** ** "***** *** ***** ****** for *** *********" *** "******** * good ********** ** *** ********," ******* does *** **** ******** **** *****. He ***** **** ** ***** *** tell *** ****** *** **** ***** he'd "**** ** ***, ** ***'* all ** ***** ****** *** **** Zuckerberg."
Pricing ***** ** *** *** *****
*******'* ******* *** ****** *** ***** is *** **** ***** **** *** historical $** ******* ** *** ********* nature ** *** ******** ** ****** video ********** *********, *** *** ********* like *******,*******,******,******,*********** ******** ********** ** **** ** their *********. *** ********** **** ****** the **** ** ***** **** *******'* historical *****, ** ******* ~**% ****** than *** ********* *********** ** *** RVM *****.
************, *** **** ******* ***** *** "a ****** ********" *******, * ********, on *** "*********** *** *********" ****, which ******* $** ** $** *** camera *** *****.
***, **** *** **** * *** getting **. ***** **'* **** **** sides, *'* ******* *** ** ***** / ******** ****.
****, * ***** ** ******* ** Actuate ***** ***** *** *** ********* model ** ** **** ******* **** ZE ***** *** **** *** ****** gun *********.
******** ***** **** **** **** ** I’ll *******.
*** *** * *** ** - there *** **** **** ******* ** an ******* **** ** *** **. Likely **** **** ** ** ***** are ***** ******** *********.
* ***** **** ****** ********** **** increasingly ******** *********** ******* ***** ********** and ****** ******** (******** *** ***** in *** ****** ** *** **** human ******** *** *** **** ****, or ** ********** ***** *** **** immediate ********).
*** *** *** **** * ****** is **********. *** ******* ****** ******** comes **** *** *********** **** ******** manufacturers **** ***** ** **** ** good ****** *** ***. *******, ** haven’t ****** **** ****. ** **** cameras **** ********* ***** ************ ** our ********, *** *** ** **** have **** ***** ** “***** *********” already ***** **. *** ********** *** missing ********** / ***** ****** ** just *** ****.
** *** *** ********* - ** made * ******** ** ****** **** RVM ****** *** ******** **** *** of *** ****** ********* ****** ****, and ** ***** *** *****.
** ***** **** ** **** ** that *****, *** ** **** ********* that ******** *** ***** ** ********** GTM ******* ** ** **** ** play ***** ** *** ***.
**** ****, * ***** *****’* **** than ****** *** *** *** ******. To *** ** *******, *******’* ******* didn’t **** **** ******* *** ****** to ***** * ********** ******** ** their *** *****, ** **** *** years ***’** *** ** **** ****** and ****** *********** ************* *** ********* as * **** **** ** *** RVM ********.
**** ** *** ***'* **** ***** Actuate, *** ****** ****** ***** ** LinkedIn, **'* *** ****** ** **** people *** *** ** ***** ** all *****. **'* ****** ************ ** times.
****** *** *** *******, *********, **** and **** 😊
*’* ******* **** *** **** ****** the ********* ** **** ** * get **.
**** ***** ******** ************** - *** early ********* *** *** ** ******** concentration, *** *** **** ** ******** concentration.
**** *** **** ******** *************, ** could ** * **** **** *** haven’t ***** * ********** ***** ******* yet, ** ***** **** ** **** like **’** *** ********.
** *****,
****** *** *** ********. * **** minor ********* ** ******* ****. ** was ***** ******** **** ***.
*********
******** *** *****: *** ** *** view *** *** ****** ** *** visual-based *** ********* ******? *****'* ********** money ***** **** *** *********, *.*.,******** ****** $**+ *******, **** **** In *** ********* *********, *** *****'* ***** ** ** least ********* ***** **** *****. *** did *** ****** ******* *** ***?