HiveWatch Makes Security Scalable | Los Angeles Business Journal

The HiveWatch team, which helps businesses expand their security systems, plans to hire 20 more people by the end of the year.

The HiveWatch group, which helps companies develop their safety techniques, plans to rent 20 extra individuals by the tip of the 12 months.

With a decade of expertise in expertise and legislation enforcement, Ryan Schonfeld is aware of a factor or two about safety.
Noticing a “lack of innovation” within the bodily safety house, he felt he wanted to carry one thing new to the desk.

“Whatever the profile of the enterprise or the quantity of capital, they had been all having points with the … incapacity to scale an efficient, tech-forward safety program,” Schonfeld stated.

Enter HiveWatch Inc., a safety expertise firm based by Schonfeld in 2020. The El Segundo-based firm develops and sells safety software program that makes use of multisensor fusion, or knowledge collected from a number of sensors, to assist firms reply to bodily threats. The corporate’s platform is scalable to rising companies.

HiveWatch’s flagship product, known as Safety Fusion Platform, might be built-in into an organization’s present safety techniques, requiring no extra {hardware}. It can be deployed into an organization’s safety {hardware} in 30 days.

Although Schonfeld declined to share the corporate’s shopper names, it has labored with purchasers in industries corresponding to cybersecurity, video video games and infrastructure, he stated.
“Something from hyper-growth, mid-market firms up via enterprise is absolutely our goal market,” Schonfeld stated, including that the corporate’s software program can be utilized in any business.

HiveWatch is carving out its house in its personal business now. In response to analysis agency Grand View Analysis Inc., the safety techniques business is predicted to develop to $167 billion by 2025, rising at a fee of greater than 10% per 12 months between from time to time to succeed in that.

And buyers need in on the motion. On Oct. 27, the corporate closed a $20 million Sequence A funding spherical. The spherical was led by former Twitter executives Dick Costolo and Adam Bain, who served because the chief govt and chief working officer, respectively, and now run enterprise agency 01 Advisors.

“When operating an organization, nothing is extra necessary than your staff,” Bain, managing associate at 01 Advisors, stated in an announcement. “Prioritizing their security and safety is crucial. After we noticed what Ryan (Schonfeld) was constructing with HiveWatch, we immediately noticed the worth and the way forward for good bodily safety.”

The corporate plans to make use of the funding to bolster its employees, with an emphasis on rising its buyer success group, Schonfeld stated. HiveWatch at the moment employs 30 individuals and plans to rent 20 extra by the tip of the 12 months. It’s aiming to succeed in a employees of round 100 in 2022.

“The bodily safety business traditionally has not put a lot consideration on the client’s expertise,” Schonfeld stated. “So, a part of what we’re seeking to do with our product is change how the client interfaces with us as a enterprise and guarantee that all the things we do has the client’s expertise first.” 

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