AI Startup Umbo Computer Vision Raises $8 Million Post-A Round to Accelerate Company Growth and Global Expansion
Umbo Computer Vision, an artificial intelligence company that specializes in autonomous video security, announced that it’s raised an $8 million post-A round, bringing funding to a total of $17.6 million to date. This round was co-led by Translink Capital and Susquehanna International Group. Shin-Kong Capital and Shin-Kong Security (TSEC:9925), one of Asia’s largest security alarm companies, also joined as strategic investors, with continued participation by earlier investors.
Umbo will use the investment to help accelerate its global sales expansion and improve its portfolio of AI-powered security products – Light, TruePlatform and Umbo AiCameras. Umbo Light is a fast learning A.I. that recognizes human behaviors critical to security such as intrusion, tailgating, occupancy and wall scaling. Customers often use Light together with Umbo TruePlatform, the company’s cloud-based security management platform, to further enhance their security capabilities. They can also choose to use Umbo’s AiCameras to process Light A.I. on the edge or apply it to their existing IP cameras through TruePlatform’s integrations.
“Umbo’s products are changing the way people around the world think about video security. Businesses small and large come to us seeking a solution they can trust to keep them safe and secure from suspicious behaviors,” says Shawn Guan, CEO at Umbo. “Our vision is to bring our computer vision technology to new customers worldwide and provide simple, yet powerful protection that anyone can use.”
Jackie Yang, Co-Founder and Managing Partner of Translink Capital, says, “We are excited to work with a company that is paving the way for A.I. and surveillance technology. Combining AiCameras, TruePlatform and Light A.I., Umbo is providing a working solution that the surveillance industry has been looking for over a decade.”
Umbo’s products have been recognized by some of the largest global system integration partners in the security industry. System integrators love that Umbo AiCameras can be set up seamlessly and with little configuration. Integrated Solutions Engineer George Caballero of Johnson Controls says about Umbo AiCameras: “In all of my 23 years in the industry, Umbo was the easiest install I have ever done”.
Umbo recently opened a London office to tap the growing United Kingdom market, earning recognition from the country’s leading alarm monitoring centers. “Since 2017, Umbo and Southern Monitoring have collaborated to deliver substantial improvements to CCTV detection/reliability and to reduce operational costs,” says Christopher Jones, Director of Operations at Southern Monitoring. “Extensive tests with Umbo Light in real world conditions found a drastic reduction in the number of false positives that our operators have to review and handle — with well over 95 percent suppression of false positives over our current configuration.”
This past year, Umbo has continued to thrive. The company gained over two hundred enterprise and small business customers. Light A.I. also received the prestigious Innovation Award at ESX 2019, adding to other honors previously won at the security industry’s biggest conferences including the NPS award at ISC West and the New Product of the Year award at GSX. Since beginning service, Light has processed over 21 billion images and users have logged into the service over 6 million times. With these new resources, Umbo intends to keep on pushing the limits of video security by building towards a safer future.
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