Claremont Creek Ventures portfolio company ShotSpotter, Inc. secures more than $10m in new funding

June 16, 2011   source: Business Wire

Company Focused on Advancing Public Safety and Security Technologies and Continuing Expansion of World’s Leading Gunshot Detection & Location System and Service

— “We’re focused on the introduction of a new services-based offering which will enable us to deliver our proven acoustic detection solution and its efficacy faster and more affordably to more public safety agencies and organizations globally.” – Ralph A. Clark, President and CEO, ShotSpotter, Inc

shotspotterMOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–ShotSpotter, Inc., the market leader and innovator in gunshot location and detection technology, announced the recent closing of equity financing totaling $7 million and the expansion of its credit facility by $3.5 million. The company will use this expansion capital to transform ShotSpotter’s technology solutions into a new domestic public safety Platform-as-a-Service (PaaS) delivery model, and solidify the dominance of its flagship product, the ShotSpotter Gunshot Location System® (GLS), in the international public safety and security markets.

“We’re focused on the introduction of a new services-based offering which will enable us to deliver our proven acoustic detection solution and its efficacy faster and more affordably to more public safety agencies and organizations globally.”

The investors consisted of the company’s existing investors including City Light Capital, Claremont Creek Ventures, Labrador Ventures, Lauder Partners, Levensohn Venture Partners, Norwest Venture Partners, and The Westly Group.

“We’re excited about our growth prospects at ShotSpotter. This latest round of reinforces the commitment of our investors to support ShotSpotter’s success in delivering innovative public safety and security solutions to cities and communities worldwide,” said Ralph A. Clark, President and CEO, ShotSpotter, Inc. “We’re focused on the introduction of a new services-based offering which will enable us to deliver our proven acoustic detection solution and its efficacy faster and more affordably to more public safety agencies and organizations globally.”

Read the full Press Release at Shotspotter.com