OpenALPR Acquired By Mysterious Novume

By Dan Gelinas, Published on Mar 13, 2019

Startup OpenALPR has been acquired by Novume, a company virtually unknown in the industry.

While there are many LPR providers (see our directory), OpenALPR is best known for its open source option + cloud LPR service.

In this note, based on our talks with Novume CEO Robert Berman and OpenALPR Founder and Developer Matt Hill, we look at the following:

  • Terms of the deal
  • Pricing
  • Go-to-market strategy
  • Who Novume is and what they are trying to do
  • Novume stock
  • Novume revenue
  • OpenALPR revenue
  • Future intentions

Terms ** *** ****

********-***** *************** *** **** ** March ******* ~$** ******* ********* ** a ******** ****** **** the ***, **** *** ***** release ****** ****** ******** "additional ******* *******":

** ******* *** *********** and ******* ********** ******* capital, ****** ****** $** million ** ****** ******* promissory ***** ** * consortium ** ******* *******.

*** **** ******** * combination ** ****, *****, and *****, ********* ** sources ***** ** *** company.

************, **** **** **** would ********** **** **** to ****** ** *** company's *** ***** ******* Officer ***** ** ***** help ****** ********** ** a ******-****** ********** *******, the ******* ********* ** IPVM ****:

*** ** **, *** Matt *** * **** understanding ** *** ** make ***** ************ ****. We **** ** *** technology ** **** *** products ******. **** **** help **** **** ********** to * ****** ****** technology *******.

OpenALPR *******

** ******** ********'* ******* is ** *** *** to *** ****** ***** millions, ****** *** ******* declined ** *******. ******* close ** *** ******* said *** ******* *** growing *** **********, ***** is ********** ***** ***** small **** (***** ** employees). *** ************ *** mention "********’* ******* ***** recognition (“***”) ******** *** increased ** **** *,*** cameras". *******, *** *** of ***** ******* *** on ***** **** ** unknown *** **** ***** from **** ** $** per ***** ** * one **** $*** *******.

************ ***** ********** * **** ****.

*******

***** ****** **** ***** were ****** ***** ** adjust ********* *****, **** would *** ********* ** increases ** *********, *** provide * *********.

******** ********* *** * few ********* *****—**-******* ****,***** ******,***** ***, ********** ***** ******. ****** ***** **** a *******-******* **** ******* to $**/******/***** ** $*** per ***** *** *** cloud *** ********** ********.

Go-to-market ********

******** *** ************* **** available ** *** ***** directly *** *********** *******. ****** **** ***** were ** ***** ** change *** ***** ** this ****.

About ******

****** ** * ******** traded ******* ******* **** has **** ********* / rolling ** ******* ******-****** focused ********* **** *** past *** *****. *** company **** **** **** 120 ********* *** ********* own * ***** *********, including:

  • ********* ******* ******, * ******** ** automated ******* ****** *********** solutions, ******* *********** ******** collections, *** ****** ********** equipment ********* *** ****** safety ********.
  • ****** ****** ******, * ******** *** integrator ** ****** ****** vehicle ********** ********* ** municipalities, *** ** ********, and ***** ******* *** public ********.
  • *** *** *********, * ********** **** focused ******** ***********, ******* planning, *** ****** ********** services *** ******* ******** for ********** *********.
  • ********* *********, * ****** ********** consulting ****.
  • ****** ********* ********, * ********* ******** company **** ******** *********** support ** *** *** and ********* ********.
  • ****** ******** *************, * ******** ****** that ****** ********* ************* and *********** *** *********** facilities

******** **** **** **** portfolio *** ********'* **** says ** **** ******* opportunity:

*** ** ***** ************ is *********. **** ***** a ****** ** ********* products. **** **** ***** **** ********** ****’** ****** *** to. ** ******** **** over ****. ****** ***** partnerships. * *** *** potential *** **** *******. Plus ******'* ******* *** was ***** *********** *******, so ***** *********** **** help ** ***** ** as ****.

Risky ********

****** **** **** *****. The ******* *** * market ************** ** **** ~$14 ******* *** *** its ***** ****** ** less **** $* *** share, ******* *********** ***** after *** *********** ************.

***** ****** ************** ****** in **** **** ** ~$100 ******* ***, ****** is **** **** **** 80% ***** ****.

Financials **** ******

******* ******* ** **** Novume *** *** ****** its ** **** **********. However, ********* ** ******, ***** ******* *** on **** *** ~$** million *** **** **** a *** **** ** ~10% ** *** ******* below *****:

*** ***** ***** ******** the ******* *** ****** and *********' ******** ***** the ********* ** ******* these ********** ***********.

Future **********

****** **** **** ***** forward, *** ******* ***** focus ** ******* *** business *** ******* ** the ******** ********. **** said **** *** ***** Science ******* **** ***** undertake * ****** ** pursuits **** *** *** of ********** ** ******* the ******** ******** *** would **** ****** ** some *** ********:

**** **** ** ****** out **** * *** version ** *** ******** in *** ******, ****** we ***'* **** * definite ********* ** ****. That **** **** *********** improvements.

*******

** ** **** *** us ** ***** * clear *******. ***** ******** sits ** * ******* trend *** ***** * different ******** ** **** LPR *********, ****** ** embarking ** * *********** and ***** ******** ****** all ** ***** *********.

Comments (22)

******** ** **** ** this. ***** *** *** largest *********** ** ***** of ****, **** ** clearly *** ** *** more ********** ************ **** in ***** ** **** of *** ******* *** market *********** ******** ** the *********** *****.

******** **** **** *** Steve *****, ***** **** engineering *** ******** ******* can ** * ***** team!

***** *** **#*.

********* **** **** *** the ******** ****. * hope *** ***** *** stays ** ***** ** is ******* *** **** of *** ************ ** do.

"LPR ** **, and Matt has a deep understanding of how to make these technologies work."

* ***'* **** ****.

*** * **** **** LPRis *** AI... so I'm not sure how that comment means anything.

******** ******** ** ********** Novume

* ** ************ ** learn **** *** ********* company’s **** ** ****** “Novume”, *** “****************”, ***** *** ** far ****** :)

* ***** **** ** disagree ** * ************* level.  ***** *********** *** is **** *** ** an *****, **** ***’* really **.  

*******, ** *** ****** or ****** ********* ** “learn” **** ** * plate, **** ****** ** expect ******* ***********, **** that ***** ** **.  

******* *** ** ** appears ****** *** ****** uniform.   ** *** US, ***** *** ****** that **** *******, ***** letters *** ****.

"*******, ** *** ****** or ****** ********* ** “learn” **** ** * plate"

*** *** ***** **** I *** ********* ** LPR ***** ****** *** - *** *** **....

*** *** ******* *** AI ***** ** **** to '*****' **** * plate ** - **** inputting *** ************ *************** of * ***** ****** 'teaches' *** ******** *** it ****** ***** ** know?

*** *** ******* *** AI ***** ** **** to '*****' **** * plate ** - **** inputting *** ************ *************** of * ***** ****** 'teaches' *** ******** *** it ****** ***** ** know?

****** ******** (******* ********/***** brain) *** (** ****** be) ****** **** ****-***** ocr **** ********.

**, (****** ** **** case) *****’* ******, *******’* would *** **** ****** for ** ****. *** if ** ****’* *** machine ******** ******* ****** at ******** ****, ****’* be ****** *****.

*** ***’* (*********) **** AI **** * ********* (glyph) ***** **** ***** of ****. *** **** it * *****, ** takes * *****, *** say *****, ** **** it *** ****** **** it’s *****.  

***** ** *** ** did, ** **** ***** minor ******* ** ******* weighted *************, *****, ***** bazillions ** **** ******, leaves *** **** * neural *******.  ** **** uses **** ****** ******* in ********** ** **** highly ******** “*******” ***** on *** *********** ******.

*** ****** ******* *** continue ** ***** **** production ********, ******** *** number ** *** ****** is ********* *** ***** than *** ******* ********.  but ** *** **** fine **** * ****** net *** ******** ***********.

**** *********** ** **** a ****** ******* ** and *** ** *****... I ***** ******** ***** to ********** *** ************ of *** **** **** and **** **** *** do.

*** **** *** *** of *** ***** *****-***** specific *** ***** *** VCA - ********* ******* the *** ** ******* plates ** ****** ************.

*.*. ***** *** **** of **** ****** *** characters *** ******* ***** - **** ****** **** state *** ****** ** some ******.  ** *** a **** *** *** the ********** ** *** day - *** ** worked **** **** (**** certain ********, *** *** resolution **************) *** ********* to **** **** *****.

** ** **** ***-***** commercially ********* ****** ******* options - *** ***** to **** ****** **** already, **** *** **** AI/neural ******** ******* ********** value?

*'* *** ****** ** has ** *****.... *'* simply ********* *** ** improves **** - ***** already ***** ****** ****.

 

***** **’* *** **** much ******, ***** **** good *******, **** ***** and ******* ** ***, you *** *** **** results.

****** ***** ** **** you *** **** **** less ****-*** **** ** achieve *** ****.  **** speculating ****.

***** ** ***** ********* plates *** ********* *** same.  ** *** ** there *** ** ****** and ***** * ******** variations ** ******, **** having *** ******* ** access *** *****.   New ****** ****** ********.   * *** *** where ** ** “******** learning” ***** ** ****** and ** *** ********** information ** “***** ******” could ** *****, ** which ***** ** *** issued **.

"** *** ** ***** are ** ****** *** about * ******** ********** of ******, **** ****** the ******* ** ****** any *****. *** ****** appear ********."

***** **** ***** ** the ** *** *** own ****** (*** **** states **** ******* ********* types/themes, ***) -***** ******* ********* ** still standardized ** **** *****.

******* **** *** '****' all *** ******** ***** license ****** - *** all ********** ** **** - ****** ** ******** this **** **** * database.

*.*. **** ** '******' by **** ***** *** has ** **** *** AI - ***** **** state **** ************ *************** of ***** **** *** character ****/****/*******, ***.  

"**** ** *****' ** a ******** ******* ****** that *** **** ** place *** **** ***** on *** *********/******** ** numerous ** ******.  

* *** ****** *** that *** ** ***** drivers *** ****** ***** fare ***** (*********** **** pun).  😏

  

** ** * ***** term.  ** ***** **** been **** ******** ** state... *** *** ******* recognition ** ** *********** of ** ** ***** "machine ******** (**)" ** "deep ********" ** * subset.  ******** **** ******* learning ** ********* ******* plates ** ****** ** countries/regions *** ******* ****, model, *****, **** ****, etc.  **** ** ********* of **** ***** ****** are ******** ** ****** and **** ***** **** and ******** ** *** into * *********** ****** network ** **** *** algorithm '******' **** *** that *****.  **** ** the ******* ******* *** many ******* ***** *********. Cameras *** ********* *** learning ** ********** *** data ** *** ****, rather **** ** **** at *** ****** / cloud.

******** & **** ******* to *** ******** **** & *** *******. **** a ********* *** ***** customer. ******** ******** *******, keep *** **** **** up. **** ******* ** the ****** *******.

* *** ********* *** a ******* ****** ****** would ** ********** ******* ALPR...   **** * **** this ***** *******:  ****** Solutions ** ****** **** to ***** *******, ***.  I'm ******* ******* ** seeing *** **** ** with *** ******** ***********.

****** ********* ********* ***** on ********** ******** *** Services *** ********* ** Change **** *** ******* Businesses

****** (********** "** ****") is **** *** ******* company *** ***** ************ (likr ******** ******* *** Rekor). * ***** *** OpenALPR ***** ** ***** preserving *** ****** ***** be **** ** ******* "powered ** ********" ** future ********.

 

***** **** **** **** doubled *** ***** ** the **** ***** ****. Really ****** ***** ** just ******* ****** *** for **. 

*** ****** (********* **** 2019) ** *** ***** API ******* ** *******:

**** **** =  **** recognitions *** *****, *** 1,000 *** ***** - 100% ******** ** *** number ** ************.

***** **** = *** $49 *** ***** *** 50K ************ *** ***** now $** *** *** per ***** - ***% increase ** ****, ***% decrease ** ************.

*** **** = *** $195 *** ***** *** 250K ************ *** ***** now $*** *** **** per ***** -  ***% increase ** ****, ***% decrease ** ************

********** **** = *** $995 *** ***** *** 2M ************ *** ***** now $**** *** ** per ***** -  ***% increase ** ****, ***% decrease ** *** ****** of ************.

*** * ***** **** to **** ****** *** more *** **** **** less.  *** **** ** do **** *** *** changed ************* ** *** cloud ** ******* *** increase.

********** ****** *** ********* mirrored ********'* ******** *****: *****://***.**********.***/********/*****  *** *** *** remain *********.

 

 

***** ** ** *** process ** ******-******* ******** for ***********.

** ******** **** ***** inside ***** ********** ** there *** * ******* partner ******* ** **** OpenALPR, ** **** ****** told **** *** ******* direct ** ***-***** *** it ***** ** * conflict ** ******** ** we **** ** *** just ***** ******** ** we ***** ** '*********' against ****.

******** **** ** **** unavailable (****** ****** **** later) *** ****** ********* and ******* ** ** Rekor ** ** ******* to ********** **** *** an **** *** ******** piece ** ********.

**** ** **** ************ to **** ********** ******* it ** ******** ** the ******** ** ***** we ***** *** ******* and *** ** *** main ******* ** **** able ** **** ** fast ** * ***** period ** ****.

****** *** ******* ** on **** *****, **** disappointing ** *** *** least. **'** **** **** to **** *** *** how ****** '******'. * hope ** *********** *** incorrect.

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