Crowd Vision has closed a successful funding round, securing investment from the Angel Cofund and a network of London Business Angels’ investors.
The London-based company offers a software product which helps customers to analyse and understand crowd data – providing accurate crowd counts and helping pedestrian flow.
The software, which extracts crowd information from video feeds, is already in operation in Mecca, where it helps to protect millions of pilgrims from the dangers of overcrowding.
Fiona Strens, CEO of Crowd Vision, is hopeful that the recent investment will aid further international expansion: “Crowd Vision is committed to enabling our customers to deliver Safer Crowds and Smarter Cities across the globe.
“We were delighted that funding offers exceeded our target, as this investment provides us with the means to execute aggressively to address increasing demand.”
Anthony Clarke, London Business Angels managing director commented, “When Crowd Vision presented to the LBA network on 17 May 2012 they had received pledges for 50% of the round and an independent value-added lead angel investor had been identified.
“LBA investors were able to support the lead and expressed such interest in the round that they had to be scaled back. This is a very good example of how a company with a clear and well organised funding strategy can effectively close a round.”