Solink Raises $60 Million, Led by Goldman Sachs
Solink has raised a significant new round of funding, led by Goldman Sachs, and tells IPVM they are looking to make "bold bets" with the influx of cash.
With this funding, Solink has received $92 million USD in total, and its CEO recently told IPVM that this should be its last round of funding. In this report, based on a conversation with Solink CEO Mike Matta, we examine the funding and share the company's plans for growth in an increasingly competitive cloud-video market.
Earlier this month, IPVM interviewed Solink's CEO and released a profile on the company. This new note builds upon that.
$60 ******* *********
****** ********* ***** **** * **** points *** **** *********** ***********, *********** double ** ***** **** **** ********** raised:
** **** ** ** ** **** of ***** ******. *** ** ** be **** ** ******* ** **** enough ********* ** *** ** ******** positive. *** ****** ** ** ****** having ****** ******* ***** ** *** make **** **** ****, ********* **** of ************* ********* ** ********* ******, or ***** **** **** ******* *******. The ***** *** ** ** **** to ******* **** ********* ** ***** that *** ******** ** *** *** table.
**** *********** *********** ** ****, ****** **** **** **** *** to ** "***" ***** ************ *** in *** ***** *** ****** **** the **** ******. ***** **** ********** is * *********** ******** **** ** growth, ****** ***** ** *** ****** known ** *** ***** ************ / physical ******** ******, ********* ** **** need ** ** **** **** ***********.
Plans *** ******
****** **** **** **** * ******* areas *** ******* *** ******* **** this *** **********. ***** ********* *** hiring *** ***** *** ******* ***** and ********* ************ ** ****** ********* and ****** ** *** ******** ******** base:
*** **** ** *** ******* *** us ** ****** *** ****** ** integrations *** ************ **** ** ****, the ******* *** ** ** **** our ******** ******* ****. ***'** ******* about "*** ** *** ******* *********?"
*** ** *** ****** ** ******* is ******* ********* "**** ** *****" faster **** ***** ** ** *****. How ** ********* *** **** ***** and *** **** ****** ** ****** in ***** ************ ******. *****'* ** investment ** *******, *****'* ** ********** in ******, *****'* ** ********** ** process.
**** ** ********** ********* *** ******* its ******** *******, ******* *** **** market ***********:
*** ** ** ***** *** ******? The ********* *** *** ********* **** and *** *** ****** ** ** market ************ ** "*** ** ** ensure ** *** ******** ** ***** decision ** * ******** ****'* ******* at ***** ********?" * ***'* **** if * ******** ******* ******* *******, butthe ***** * **** ******* **, "** ***** **** ****** *******." So how do we continue to scale our message, our value to buyers in other verticals, buyers in other regions, buyers, and small, medium or large segments? How do we continue to have a seat at the table. [emphasis added]
**** ******** **** ****** *** *** tried **** ****** ** ** ***** as **** ** ****** **** ***** them *** **** **** ***** ** no ******** ** ******** ******.
***** *** ********* ******* ******** *** innovation, ************ *** ****** ** ***** alarms ********* ********* *******:
** **** ******** ** ** **** in *** **** ***, ***** ***** to ******** *** ******** **** **** help ** **** ******* ***** ** customers. ** **** **** ** **** products ** *** ****** ** **** our ******** ***** ***** ********. *** one ******* **** ** ***** ** the **** *** ***** **video ******. The ability to use cameras as a means of having intrusion and then monitoring protection, instead ** *********** ********* ******* *** ******. That's been a great product for us. It's grown ****** ************. [emphasis added]
Valuation *** *******
***** *** ******* *** *** ******** valuation *** *******, ** ****** *** valuation ** ** $*** - $*** Million ***. ** ******** ******* ** be ** *** *** **** ** millions ******** ***** ** *** ****** of ******* ********* *** ******** ****** per-camera ******* ** *** ~$*** *****.
***** ** ******* ** ******** ******** is ************ ** ******** ****** *****, ******'* *****-*****, **-******* ******** ******* a *** ***** *** **** *********.
* ***** ****** **********,***** *** ****** $*** ************** **** ****.
Goldman ***** **********
***** ******* ***** ** *** ** the *****'* ******* *** **** ****** investment *****, **** ** *** ***** Goldman ********** **** ***** ************ ********* that **'** ****.
******* ****** ****** *** "**-***-****** ******":
***** ********** * **** **** ** the ******** ******** *** ***** *****,our **** ********** ****** ** *** **-***-****** ****** in a market undergoing a rapid transition to the cloud and modernized solutions. Goldman Sachs is excited to partner with Mike Matta and the Solink team as they continue to gain market share due to their deep commitment to innovation, unwavering focus on customers, and a product that is a step ahead" [emphasis added]
******, **** ***** ***** ***** ******** is *** *** ****** ** ******* but ** *** ** ******* ****-******* competitors (**** *******, ***** *** *** Verkada).
****** *** ***** **** **** **** they ***** ** **** **** ******* because ** *** ******* ** ***** to ***** ********* *** *** *********** of ***** ******:
*** ***** ** *** *********** ******** about **** **********, *** *** ** we ***** ******* ***** *** **** investment ** ** * ** ****** or ********* **** ***********? **** **** helped ** ***** ******* ***, "*** do *** ******* ** *** ****** investor? *** ** *** ******* ** the ****** ** ** ****** ** choose * ****** ********?" ** ** not **** * **** ** ****, or * **** ** ****, ** a ****** ********, *** ** *** company ****** *** ** **** ** ways ** ******** ********* **** ** investors, ***** ****** ** *** ***** that's ****** *** *******. ** **'** going ** ******* *** **, *** do ** ***** ******* ** ******* ourselves ** *** **** *****? **** really ****** ** ***** ******* **** "what **** *** **** ** ****** look ****?"
****, ***** *********** *******'* ****** ***** reach:
*** ***** ****** ** *******'* ****** brand, ****'** *** * **** ******* into ******** ********* **** ** ***** and ********* **** ** **** ** expand **** **** ****.
***** *** ***** $** ******* *** a *********** *****, **** ******** **** Goldman ** ***** * ******** ********, and **** *** ****** ******* * long ******* ******* ******** ******** *******:
** *** * **** ** *** a **** *******, ** ******* **** them *** ***** **** ******. ** wasn't ********* **** *** *****, *** we *****'* ** * ******** ***** we ****** ** ***** *****. ** had * *** ** ******* ********. There *** * *** ** ***** investors **** ** ***** **** *** Goldman ****** ****** **, *** **** that **** **** *******, *** **** also *** *** ***** ** ***** network.
Goldman ***** ***** ** ********* / * **** ****
******* ******** * **** ** ******'* Board ** *********, ***** **** ** held ********* ******, *** ***** **** *** **** involved ** *** ******* *** ** very **** ********* **** *** **+ years *****:
** *** ** ***** *** ****** during *** ********* *******. ******* *** a **** ******* ** **** **** advisors *** ********* **** **** *** bring ** *** ***** *** *********. Mike ** **** **** ****** ****** of *******, **'* **** ***** *** over * ******. **'* **** **** respected *** ********* ****** *** ****, very **** *******, *********** *** ****, infrastructure ***** ****** **** **** ** other ****** *****.
** ********** *** ***-**-*** *** *** an ******* ****** **** *** *** company. ** *** * **** * really **** ******* ************ ********.
****** ****** ** *** ***** ** 4 ***** *********, *** ** ***** are *****, **, ***/** ****-******* **********, though **** ** *** ***** ************ market **** ******.
***** **** **** ***** ** *** open **** ** ******'* ***** (** keeping ** *** ****** ** *******), and **** **** ********* ************:
** ***'** ********** ** ******* *** Solink ***** ** ** *********** ****** we're ********* ************.
Competition ********
****** ***** ******* ****** *********** *** cloud *****, ****** ***** ********** **** plan ** ******** * ****-**** ****** focus ***** ************* ***** *** ******* for ********* ******:
**'** *** ** **** ******** ** flood *** ****** **** ***********. ******* to **** ** **** *******, *****'* both * ***** **** ***** ** the ******* ******* *** ** **** to ** **** ** ******* *** market. *** **** *****'* * **** term ***** ** ******** ********* ****'* sustainable *** ***********. ** *** "** over **** ****" *** **** * ton ** ****** *** *** ***** something **** ** **** *************, *** like ****** ** ******* ********* *** the **** **** ** ***, *** risk *** ***** ** ******** **** years **** ***.
** **** **** * ******** **** of *** ****** *** ******* *********** is ******. **** *** ******** ** adding "******** ** *****" ** *** next ****** ** *****:
*** ********** ** ******** ********* ****'* going ** ** **** *** ***** to ****. **'** ******* ** ***** on *** **** ******. ** ** addition ** ******* *******, *** ***** able ** ***** ** *** ******, we **** ** **** *** **** people *** ****** *** **** ******. And ** * ***** **** **** of *** ** *** *****,** *** ******.
** **** **** * ****** ******* or ** **** **** **** ******?
** ** **** * *******-******* (**** with *** ************ *** ******) ... Here's * **** ** *** ****** program -******* ********* | ******* ***** ***** Surveillance | ******
*'** *** ** *** ** **** and * *** **** ***** ****** is ******.
*******, ******* ** **** **** ***** who ****** *** *** * **** they're **** ***** ***, ****** *******, worse ********* - * ** ******** but *** ******** ******. * **** don't **** ** ****** ** * knock ** ***** ***, ***** *** has **** * **** *** ******** market ********* *** ******* ************.