Rhombus Raises $45 Million, Expanding Globally
US-based Rhombus doubled its total funding to $90 million in its latest round and aims to expand globally.
In this report, we examine the company's strategies and expansion plans based on Rhombus' CEO's comments to IPVM and its latest press release.
For context, see Rhombus CEO Interview and Rhombus Raises $26 Million
Executive *******
**-***** ******* *** ****** **** $** million **** ****, ******** *** ***** amount ****** ** **** *****. **** will ***** *** ******* ** **** more ************, ********* * ************ ******* network ********, *** ******** *** *****, marketing, *** ******** **********.
** ***** ****, ********** *** **** ******* ******** ** Verkada ** ****** *** *** ******* international ********. *******, ** *** **** to "****** [***] ****** *********" ** it ******* **** *** **, ****** an **-*********** ******, *** *****,*** *** ** ****** *** **** seven *****, ** ***** *** *** international ********.
****** *********
************ ** *** ***** ** *** Series * ********* ***** *********** ** ** ***** *** **** to "****** ****** *********." *******'* *** Garrett ******* **** **** **** ***** its ***** ***** ** ********* **** the ** *** ********* *** * strategic **** **** ***** ****** **** was **** ****** *** **** ***** years *** *** ******** ******* *****:
* ****** ** ********* ***** ** will ****** *** ** ************* ***** and *** ******* ***********. ** *** former, ** ******* ** * *** sales ****** **** ******,*** *****,that **** ** *** ** *** **** ** *********** *** ******** ** *** ************* ***** ** *** ** *** ********* to start.
************, ******* *** *** ******************** ******** ******** ** *** ******** operations ** *** ****** ******.
*** *******, *** ******* *** *** awareness ******* *** ** ******'* **** ********** ************ ******. *********** *******' ******** ***** / architecture, ** ********* *** **** ****** to *****/ ****** * **** ***** than ***** ****-********* *******, ** **** expansion ** *******. ************, *******' *** hire ** *** ***** ** ****** its ************* ***** ********, *********** *** UK *** *********, ***** ****.
Reiterated "******** ** *** *** ****" ** ****
*******'* *** ******* ******* **** **** in **** **** **** ***** *** company *** **** "******* *********," ** is ****** ** ************* **** ****** and **** *** **** ***** ** to "***** ** *** *** ****," an ********** ** ******* **********.
******* *** ***** *******, ******* **** IPVM ***** **** **** ** ******* to *** ************* ******* *** ******* efficiency ********. ******* **** ********* **** the *** ********** ***** "*** ********* value" ** **** ** ***** *** company *********** ** ****** ***** *** bets:
******* ********* ** ***** **capital ********** to ensure we canstand ** *** *** *** ****. In this case, we saw a great opportunity to bring in some investors that added a lot of strategic value, so it was a no-brainer to raise the additional money from that perspective as well as give us flexibility ** **** **** ********** **** ** ***** ***** ** *** *************. [Emphasis added]
** ******** ****** ********** ******* **** it ** ******** ** **** *** a *** ** *** **** "*************":
** *** ** ******* **** *****, it’s ****** ******** ** ** **** we *** ************* *** ** *** get * ****** ** *** **********.
Revenue *** ******: ****** ***** ********
*********** **** ** **** **** **** it *** **** ******** ***** *********** ******* ** ******** ** ****** annually *** ******* "*** ** ***** years." ***, **** *** *** *******, the *******'* ***, ******* *******, *** not ******* *** ***** ******* ** this ****** **** *** ****:
**’** ****** ******** ***** *** ** can ************* *** *** ** *** resources ** **** ** ****. **’* always **** ** ******* * ***** out, *** * *** *********** *** that **’** ****** ***** ******* ******* our ****** ** *********** ** ******** without ***** ******** *********.
***** ******* ******** ** ******* ** its *******, **** ********* *** ****** revenue *** **** ** ** $** million ** $** ******* ***** ** the "**** ***,***" ******* ******** *** estimates ******* ******** *** ********* ***** pricing. ** ******* ******* *** ******* in ****, ** **** ** ** the $** *******—$** ******* *****.
*** ******* ***** ** *** **************** *********** *** ******** *********** ******* **** it *** "********** ********" **** ***** **** ******* ***** its ******:
** ** ********, *********** **** ******* these ******* ******* *** *********** ********** platform, ***** ******** ************, *********, ******, and ********* *** ******.
*** ********'* **** ************** * ******** ****** ****: ****** recruiting, **-**-****** *******, ********* *******, *** government ******** *******. ***** **** **** not **** ****** ***** ***********, **** of *** ********** **** *********** ***********, and **** *** ******* ******* ** SaaS *********.
No ******* ** *** *****
***** *******'* *** ***************** ******** ********* **** *** *******'* ****-**** investor, **** *******, **** ******* ** "*** ** Bust," ** **** **** **** ** has "** ******* ** **** *****."
Expanding **-**-****** ********
***** **** ********* *** "****** *********," Rhombus ********* ** *** ***** *********** ** **** *** *** **** to ****** *** **-**-****** ********, ******** with *** **** **** ***$** ******* ******* ******* ** ********** *** ********** ** ******* ******** and ***** & *********:
******* **** *** *** *** ******* to ****** *** **-**-****** ******** *******, including ********* ********** ** *** ******* and ********* ********* [...].
Expanding ********** ***********
************, ******* **** ** **** "******** advancing ******** ********** ************ *** **** platform ************." *******'* *** ******* ******* expanded ** ****:
**’** **** **** ** ****** ** new ********. **** **** **** ** launched ****** *******, *** **’** ******** to **** ** *** ******** **** fit ****** *** ****** **** ** glass *** ******** ******** *********.
******* ********** **** **** **** ** aims ** ************* ****** **** **** applications ********** **** ** ***** **** its ***** ********,**** ** ********'* ******* ****** ********************.
******** *******
** *******' **** ****** ***** *******, the ******* ****** *** ********* ******** metrics, ***** ******** *******' "********* ********." Specifically, ** ********* *** ******** ****** from *** ********** ********* *,*** ** 3,000 *** **** ***** ********* *******, including *** ***,***+ ****** *****, *** same ** *** ******** ************:
****** ** **** *,*** *********, **** Fortune *** ********* ** ****** ********* and ******
*************** *** ******* ******** ********* ** locations ****** *** *****
********** **+ ****** *** *** ** enhance ******** ********
******* ********** ********* *** ********* *******, and ** *** *** ******* *** global ********* ** *,***+** *** *******'* ***** ****:
*********
*******'* *** ******* *********** **** ** **** ******** ** ***** "****** ********* ** two *****." ** *** **********:
**’** **** ** **** ** ** think *** ****** *** ********* ******* it.
********* ***** *******'* ******** *******, *******'* ********* **** ****~*** ** ******** ******~*** ** ******** ****** ~*** ** **** **** ****:
***** ** ***** **** **% ******, no ********* *** ****** ******* ** the **, ********* ** ********, *** we ****** **** ** ****** **** the **** ****.
*******'* ***** ******** ** **% ** its ***** *********, *** *********** *** intention ** ******** ********** ** **** sales ** ********* ** * ***** as **** ** ***********, **** ****** will ****** ***** ** ** *** coming ****:
*******, *******'* *** ********** ** *** industry, *** ~**% ** *** ********* in *****.
Compared ** *******
*********** ******* "******" ****** ** *** physical ******** ********, *******'* *** ****** *********** *** Verkada *** ***** ******.
******* ** ** **** ** ****, Rhombus *** ************ **** *** ******** of *** *****. ***** *******'* **** revenue ***** ** $** ******* - $80 *******, *******'* ******* ** ********* to ** $*** *******, ************* ****** than *******'. ****, ***** ******* **** it *** ***,***+ ******* ********,******* *** * *******, ~*** *******' ******* ****.
************, *******' ***** *** ********* ******* are **** ******* *** **** ********** than *******'*. ** ******* ** ** seen *** ******* **** **** *** sales ************ **** *** *** ******* soon, *** ** **** *******, ** expect ** ** ******** *** ***** team.
***** ** ******* ******* **** ****** more ******** **** *******, ***** **** that ******* *** ****** **** ********* in *** *********, ********* ***** ********* Verkada ************. *** *******, ********** **** ****** ******* ** *** "Verkada" **** ****, "*** ********** *******."
** ******* ** *** ********* ********, Verkada ******* *** * *********** *** growing ****** ********, ********** ** *** UK, ******, *********, *** *** *******. However, **** ** *** ******* ***** comes **** ***** *******. ******* *** six ******* ******* *** **:
** ************** **** **** **** ** ** proactively******* *** ******* ******** ** ********* *********/*** *******.
************,******* ***** ** ****** ******** ******* its *** ***** ****, *** *****, its ******** ******** [**] ************* *****,*** ******** ** ***** ******'* ** ***** function *** ***** ***** ***** ** joined ******* ** *********.
Touts **** ******** *** *** ***********
******* *** ************** ******* *************** **** ******** **** ********* *** ******** ***** ***********. ******* ********** ** *** company's ******** ** **** ***** ** IPVM:
**** ** ** **** **’** ******** to ****** ******* **. ***** [******** 2023], ** **** ***** ************ **** Omnilert, ***********, *** ******** *** ** have ******** **** ** *** ********. We **** ******** ** ***** *** our ********* ***'* ** ****** ****** any **** ** ******** ****** *********** on *** ** **.
******* **** ******** *** *********** ** this **** ** ************** ***** *******:
*******' ******** ********-******** ******** ******** ***** security *******, ****** *******, ********* *** sensors, ***** **********, *** ** ********* console ** * *****-******* ***truly **** ********.
A ******* ********* ** **** ** ************, along with the ability to easily serve Rhombus data to other critical systems through an open ***, arms organizations with personalized end-to-end solutions. [Emphasis added]
**** ****** ***** ** ***, **********, and ******* ** ******** ****** ****** to ***** ********** – ******* **** are * ****** ****** ********* ***** against ***-******* ********, * ******** ******** loss **********, ** * ************ ******** tracking ****-***** *********.
**** ******** **** ****** *** **** to ************* ****** **** **** ************ integrated **** ** ***** **** *** cloud ********.
***** ****** ******* ****
*** ******* *** *** *************, *** ** **** *** *** round, ****** ** ******** ***** *** fundraising, ******** *** **** ******** ******** has "******* * *** ***" *** that ******* ** "****** [***] ******* in *** ***** *********."*** ***** ******* ****** **** ***********'* managing ********, ****** *****, **** **** the ******* ***** ** ************** **** *** **********.
************** ******* ** **** **** ** undisclosed **** ****. ** ***** ********** $*** ******* ** ****. *** ******* ******* ********* ****** * "********* *************, ******, security *** ******* ********** ****."** *** ** ****-**** ********* *** dozens ** ********.
******* ***********,********* ****** ********,*** *************, ******* *******, *** **-*** *******'* ****** *, other ******** ******* ********* *****, ************** ********************** ********.
***** *** ****-*****, *******'* *** ******** Director ** ************* *****, *** *****,****** ******* *** ********** ******** *** *** *******'* ****** team, ********* *******'* ***** ***** ** expanding ***************: