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RapidSOS Closes $150M Financing Round led by Funds and Accounts Managed by BlackRock to Advance Intelligent SafetyRapidSOS' Intelligent Safety Platform fuses artificial and human intelligence to proactively manage emergency response, save lives, and protect property NEW YORK, March 5, 2024 /PRNewswire/ -- RapidSOS, the intelligent safety company, today announced an additional $75 million raise led by funds and accounts managed by BlackRock, which closes the company's latest round at $150M.
RapidSOS connects life-saving data from 540+ million devices in our nation's homes, schools, trains, cars, buildings, and personal devices to 16,000+ public safety agencies and nearly 1 million first responders, leading to a faster and more accurate emergency response that saves lives and reduces the cost of recovery. In 2023, RapidSOS' Intelligent Safety platform processed over 3 billion data feeds used by highly trained operational teams and first responders to manage 171 million emergencies, covering over 99 percent of the US population. Over 200 companies, including leading technology, consumer, transportation, logistics, and education companies, are now part of the RapidSOS ecosystem, allowing the technology we use every day to keep us safe and secure, working in harmony with each other and first responders to protect hundreds of millions of users. "In today's highly complex and uncertain world, industries are spending billions of dollars in the name of safety and security. However, in the moments when it matters most, during an emergency, we still rely on a phone call to 911 for help, as much of today's digital emergency data still isn't available to first responders," said Matt Singer, Manging Director at BlackRock. "RapidSOS has built a powerful and deep data platform that now makes it possible for organizations to connect and work with public safety to detect, respond to, and resolve emergencies more efficiently," added Singer. "The value of the RapidSOS network continues to grow as more enterprises, devices, and data come together with first responders to transform emergency response." A Decade and Quarter Billion Invested in R&D RapidSOS has spent over a decade and a quarter billion dollars on safety, security, and health response research and development. Thousands of first responder agencies contributed to that work, guiding how to fuse artificial and human intelligence to manage safety and response. Intelligence inside the RapidSOS platform supports predictive incident awareness and modeling, weapons detection, crowd estimation, geocoding services, language translation, automatic response recommendations, incident verification, and sentiment analysis. Today, RapidSOS employees hold a cumulative 600+ years of public safety experience and train hundreds of thousands of first responders annually on how to leverage the data provided by large enterprise companies in emergency response. "RapidSOS worked backward in the response chain, starting with 911, field responders, and healthcare providers to deeply understand how technology could change safety, security, and healthcare," said RapidSOS Founder and CEO Michael Martin. "None of this would have been possible without the support, guidance, and co-development with thousands of public safety agencies, leading public safety software vendors, and major tech companies. I'm excited to bring BlackRock, the world's largest asset manager with $10T under management, to this mission of transforming safety and emergency response." Also participating in the round included NightDragon, BAM Elevate, the private investment division of Balyasny Asset Management, Manhattan Venture Partners, Acrew Capital, and Harmonic Growth Partners. Record-Breaking Year for the Use of Data in Emergencies 2023 was a record-breaking year with over 240 million 911 calls and over 1 million emergency-related fatalities. From major weather events and natural disasters to over 630 mass shootings and increasing violent crime, RapidSOS supported tech companies and first responders in protecting an unprecedented number of people in emergencies. On average, this life-saving work supports over 325 emergencies per minute that are being managed by the heroic work of 911 telecommunicators and responders on the RapidSOS platform. For more information about RapidSOS, please visit www.rapidsos.com. About RapidSOS Media Contact
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