Rhombus has secured $45 million in Series C funding from NightDragon, boosting its leadership in cloud-managed physical security with innovative solutions like smart security cameras and an open platform. This funding round raised the total to over $90 million and saw participation from Bluestone Equity Partners and existing investors Caden Capital, Cota Capital, Tru Arrow Partners, and Uncorrelated Ventures.
This latest funding highlights Rhombus’ rapid growth in the cloud-managed physical security market, valued at $45 billion. Organizations increasingly shift from complex legacy systems to fully integrated solutions that leverage the cloud and advanced analytics for enhanced security and operational efficiency.
“We are excited to bring on additional strategic investors, like NightDragon and Bluestone, who bring a wealth of industry experience that will accelerate Rhombus’ go-to-market and product capabilities. Their investment validates the massive market opportunity for global physical security and accelerates our mission of making organizations safer and their spaces more intelligent,” said Garrett Larsson, CEO of Rhombus.
Innovative Hardware-Software Solutions
Rhombus offers a comprehensive hardware-software solution that includes smart security cameras, access control, IoT sensors, alarm monitoring, and an intuitive console in a cloud-managed, open platform. With over 40 integrations and an open API, Rhombus provides end-to-end solutions tailored to various needs, such as schools combating gun violence, retailers addressing loss prevention, and construction firms tracking high-value equipment.
With this new funding, Rhombus plans to expand its go-to-market strategy and invest further in its partner and developer ecosystem. The company aims to enhance its international presence and advance its internal AI and open platform capabilities.
NightDragon will support these efforts through its NightScale platform, which includes partnerships, playbooks, people, and growth platforms. NightDragon Managing Director Morgan Kyauk will join the Rhombus Board of Directors.
“Physical security is entering a new era, where it is possible to have smarter, safer spaces through the power of connected systems, cloud platforms, artificial intelligence, and more. NightDragon is proud to lead an investment in Rhombus, enabling this transformation through its innovative, leading technology and open platform approach to better secure our world for tomorrow,” said Dave DeWalt, Founder and CEO of NightDragon.
Strengthening Leadership and Commitment
Led by CEO Garrett Larsson, Rhombus continues to grow its customer base, which now exceeds 3,000, including Fortune 500 companies, school districts, and cities. The company oversees over 100,000 devices and cameras, securing thousands of locations worldwide and handling over 5 million alerts daily to enhance customer security.
Rhombus aims to provide simple, smart, and robust physical security solutions. Backed by NightDragon, Bluestone Equity Partners, Cota Capital, Caden Capital, Tru Arrow Partners, and Uncorrelated Ventures, Rhombus is committed to making the world safer through innovative technology.
Follow USTechTimes on Facebook, Twitter and Linkedin for in-depth news of market trends, funding updates, and regulatory changes affecting startups in USA.
We Recommend:
- Data platform startup Lightbits Labs raises $42 million led by Atreides Management
- Beyond Classrooms, Transfr Bags $40M to Usher in a New Era of Vocational Training
- Cloud-based travel technology provider Spotnana bags $75 million in Series B round
- Nanome’s VR app assists scientists to study new ways to combat Coronavirus
- Arc Electric Boat Company Sets Sail to a Greener Horizon with $70M Series B Funding
