Hakimo raises $6 million in funding for product development and market expansion

MENLO PARK, Calif. –Hakimo has six million reasons to celebrate today thanks to a round of funding led by Rocketship.vc.

The funding round also saw participation from existing investors Neotribe Ventures, defy.vc and Firebolt Ventures as well as new investors Carrier Global Corporation, through its venture capital group, Carrier Ventures, and well-known physical security industry entrepreneur John L. Moss. Hakimo has said the capital will be used to expand into new markets as it accelerates its product development.

Hakimo has raised $10 million to date including the $4 million seed round announced late 2021. In that time Hakimo acquired a variety of customers from Fortune 500 companies to airports and automotive dealers. They’ve also been making alliances with other physical security providers like LenelS2 (a part of Carrier) and have received prestigious industry awards that includes the Security Industry Association’s (SIA) 2022 New Products and Solutions Judges’ Choice Award.

The company’s platform uses computer vision and machine learning to automate monitoring physical security sensors like cameras and badge readers. It can also communicate warnings through speakers when it detects intrusion or unwanted activity.  “AI is redefining how a broad spectrum of industries do business,” said Anand Rajaraman, Founding Partner, Rocketship.vc. “Physical security is one such industry that has all the ingredients needed for an AI overhaul, and we’re excited to support Hakimo in that endeavor.”

Hakimo said the infusion of capital comes during a period of increased crime and staffing shortages in the security industry, which in turn forces organizations to invest in smarter ways to strengthen their physical security. Hakimo’s automation allows them to reduce their, “guard footprint”, without sacrificing security.

“Hakimo provides a much-needed automation platform that helps a wide range of organizations improve security in this resource-constrained environment,” said Sam Joseph, Co-Founder and CEO, Hakimo. “We’re proud to be transforming the industry and are grateful for the support of our customers, partners and investors as we continue on this journey together.”

“We are thrilled to see Hakimo’s continued growth and customer adoption,” said Neil Sequeira, Founder and Partner at defy.vc. "Since the inception of our firm, we have been actively investing in cutting-edge AI companies, and we are excited to support Sam and his team as they continue to transform the space of AI for physical security."