Cision PR Newswire
RapidDeploy Raises $34 Million in Growth Funding, Led by Edison Partners
News provided byRapidDeploy
Jan 25, 2023, 8:00 AM ET
RapidDeploy to innovate and continue building its international reputation as a partner dedicated to putting state and local communities first with proven 911 solutions
AUSTIN, Texas, Jan. 25, 2023 /PRNewswire/ -- RapidDeploy, the leading provider of cloud-native 911 mapping and analytics solutions for Public Safety, announced today $34 million in new growth capital led by Edison Partners, a leading growth equity investment firm, with participation from existing financial and strategic investors GreatPoint Ventures, Morpheus Ventures, GM Ventures, Ericsson Ventures, Tao Capital Partners, Clearvision Ventures, Tau Ventures, NedBank CIB, and others. This investment brings RapidDeploy's total raised to $87 million.
RapidDeploy has grown to 10 statewide contracts and more than 1,500 contracted 911 centers using its platform. The company has also sold to major enterprise accounts, most recently General Motors' OnStar for its call centers. This new growth investment will enable RapidDeploy to build on its successes, accelerate go-to-market initiatives, and continue innovating for the Public Safety sector. The company prides itself on how it supports its mission-critical customers and partners and will be scaling to meet the growing demand for their solutions.
"With this investment, we'll be able to further our mission of saving lives by reducing response times," said Steve Raucher, CEO and Co-founder at RapidDeploy. "We are excited to have Edison Partners as the lead investor with such deep operational expertise. This investment will help us serve our customers with proven experience in delivering tightly integrated mission-critical software to one of the most demanding industries in the United States. We are here to serve the mission!"
RapidDeploy's next-generation, cloud-native solutions include Radius Mapping, a mapping tool designed to reduce response times and radically improve the way 911 calls are handled, and Eclipse Analytics, a solution that empowers Public Safety leaders to make better decisions to improve the efficacy of the entire 911 workflow. Both Radius Mapping and Eclipse Analytics are "best in class" solutions.
"First Responders should have access to configurable solutions that tap into all available data streams and communications methods in an easy-to-digest single pane of glass. RapidDeploy's Radius Mapping and Eclipse Analytics product adoption provides strong validation that they are the solution of choice," said Edison Partner Daniel Herscovici, who led the investment. "CEO Steve Raucher and his team are recognized as the premier partner and innovator with a significant technological advantage. Their vision of creating an operating system for next-generation 911 response will save lives and transform our nation's emergency response infrastructure."
"As an early investor in RapidDeploy, it is an honor to be a part of this journey. They transformed Public Safety, and continue to advance this industry," said Ray Lane, Managing Partner at GreatPoint Ventures.
911 centers require a technology platform that delivers relevant and contextual emergency information in real time for those charged with responding to emergencies. RapidDeploy is a proven leader in next-generation technology at the state and local level and will use this investment to further support and prioritize its local, state, and federal communities.
RapidDeploy is the leading provider of mapping and analytics solutions in Public Safety, transforming 911 and other emergency communications centers of any size into data-centric organizations. RapidDeploy achieves its mission of saving lives by reducing response times with new levels of situational awareness and the seamless integration of third-party data onto its cloud-native platform, ensuring it is available when, where, and how Telecommunicators and First Responders need it. To learn more, visit rapiddeploy.com and follow us on LinkedIn, Facebook, and Twitter.
About Edison Partners
Edison Partners is a leading growth equity firm providing the financial and intellectual capital that CEOs and their executive teams need to grow and scale their companies. The firm's team brings more than 275 years of combined investing, operating and sector experience to each investment, accessible via the Edison Edge value creation platform, which is tailored to each business' strategy, stage and operating needs. Edison targets high-growth financial technology, healthcare IT and vertical SaaS and marketplace companies located outside Silicon Valley with $10 million to $30 million in revenue. Investments also include buyouts, recapitalizations, spinouts, and secondary stock purchases. Edison's active portfolio has created aggregated market value exceeding $10 billion. Edison Partners manages $1.6 billion in assets. For more information on Edison Partners, please visit edisonpartners.com and follow on LinkedIn.
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