Eyewitness Surveillance secures $15M in new financing

Hanover, Maryland-based Eyewitness Surveillance, a provider of remote interactive video monitoring solutions, has announced that it has secured new financing to enable its continued expansion and business growth.

The company says this new financing support, a $15 million facility from The PrivateBank, Chicago, will be particularly valuable as Eyewitness continues to realize its strategic future growth goals within key automotive dealership and metal recycling organizations. These goals include:

• Developing new accounts in existing and new geographic markets, particularly in the Midwest;
• Enhancing its overall product line and building on its account management and customer service structures and support teams; and
• Continuing to drive growth and deeper value propositions in the offering of related security services, including Eyewitness’s Sales Direct and Service Lane Kit 2.0 products.
  
  

Securing this new financing is necessary to achieve Eyewitness’ strategic goals through its “zero-down” model that covers the cost of new equipment and installation, the company says.

Eyewitness says its clients have seen the value of shifting from physical guard security to the use of video monitoring and remote surveillance applications and services, which also deliver results related to sales and customer management, false claims and financial compliance.

“We are thrilled to announce this new financing,” says Eyewitness President, R.T. Arnold. “Partnering with The PrivateBank will enable us to continue our nationwide footprint and further invest in innovative service offerings to deliver maximum value and return on investment to our customers.”

The company says it has three new product offerings that will be introduced in the near future, including enhancements to its Service Lane Kit 2.0, Sales Direct offerings and Inventory Snapshot.

“We are pleased to provide this financing to support Eyewitness and its future growth and evolution,” Mark Melendes, managing director of The PrivateBank says. “Eyewitness Surveillance is a leader in security and video surveillance, and we are excited to support their growth strategy.”

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Eyewitness Surveillance was founded in 20015 to provide remote interactive monitoring, security and operational solutions for mid-ize and large car dealerships, metal recycling yards and a variety of other fixed industrial facilities across the country. Using sophisticated analytics, Eyewitness’ cameras can capture data used to monitor customer foot traffic and employee behavior, improve customer responsiveness, drive sales and manage assets.