ShotSpotter Raises $12M in Series C Funding

Levensohn Venture Partners Leads Expansion Round, Joined by Labrador Ventures, Claremont Creek Ventures, City Light Capital and Lauder Partners, two new Board Members

SANTA CLARA, Calif.--(BUSINESS WIRE)--

ShotSpotter, Inc., the world leader in gunshot location systems (GLS) and technology for public safety and the military, announces the completion of their $12 million Series C round of funding. This round will allow ShotSpotter to further solidify its market dominance in the public safety market and accelerate market expansion in the military sector.

Levensohn Venture Partners (www.levp.com) of San Francisco, CA, led the round and was joined by Labrador Ventures and existing investors Claremont Creek Ventures, City Light Capital, which jointly led the company's Series B financing, and Lauder Partners, which led the company's Series A financing in 2004. Pascal Levensohn of Levensohn Partners and Stuart Davidson of Labrador Ventures join the seven-member ShotSpotter board of directors.

With more than fifteen operational systems in place today and steady expansion of existing implementations, the dominance of ShotSpotter in the public safety market is clear. In addition, recent contracts with the US Department of Defense in the military market further validate the importance of this technology for the military. The entry of two new intuitional investors and the continued support of existing investors in this substantial financing round attest to the Company's continued business progress.

"I've never invested in a company before where people marched in the streets to get their cities to buy the company's product as occurred earlier this year. We are impressed with ShotSpotter's business momentum. The ShotSpotter solution saves lives and materially reduces urban gunfire where it is deployed. The company's potential to achieve similar results in the military market is substantial and validated by years of success in the public safety market across the United States," said Pascal Levensohn, Managing Director of Levensohn Venture Partners.

ShotSpotter Hits the Target

"ShotSpotter has hit the target with its unique technology for public safety which has been embraced by law enforcement and homeland security officials across the country," according to new board member Stuart Davidson. "The team has strong leadership and a vision for how they can transform public safety in the coming years with their proprietary technology."

ShotSpotter has been delivering patented, state-of-the-art gunshot location and detection systems for more than ten years. Agencies using the ShotSpotter GLS have reported that gunfire-related arrests increase by 50%, violent crime rates drop by at least 30%, and gunfire rates have dropped dramatically, by as much as 60-80% depending on the location of the system. The US military has used ShotSpotter systems in Iraq.

"This round of funding provides us the funds to capitalize on the momentum we are building in the marketplace and further solidify our market leadership position," said James G. Beldock, ShotSpotter President and CEO. "As we build out our presence in the military market, we are excited to have the support of investors who bring deep contacts and insights into the military and pubic safety markets that complement our team."

In addition to providing real-time notification of gunshot events, complete with an audio file of the event, ShotSpotter captures information that can be used for subsequent detailed forensic and intelligence analysis of events. Such information can include weapon type and direction of fire analysis, and even information on drive-by shooters on the move. In addition, ShotSpotter GLS interoperates with camera and surveillance systems, crime analysis tools and other dispatching technologies.

About City Light Capital

City Light Capital is a money management and business development firm based in Greenwich, CT. The firm has partnered with operating companies in security, energy and media that provide complementary strengths, such as domain expertise, testing and business development relationships. City Light's portfolio companies include Arxceo, Rotomotion, Cross Match and ShotSpotter.

About Claremont Creek Ventures (www.claremontvc.com)

Based in Oakland, CA, Claremont Creek Ventures is a venture capital firm investing in early-stage information technology companies, particularly in the San Francisco Bay Area. The firm's three principals are all experienced managers and proven venture investors, and share a deep commitment to helping entrepreneurs build successful companies from the ground up. They focus on IT sectors where they have deep domain expertise, including -- but not limited to -- mobility, healthcare and security markets.

About Labrador Ventures (www.labrador.com)

Labrador Ventures, founded in 1989, is one of the oldest, premier seed stage funds in Silicon Valley. With over $200 million under management, Labrador has invested in more than 90 companies over the last 17 years, helping transform the way we work, communicate and transact business. Labrador invests in software, communications/networking, messaging, semiconductors and information services.

About Lauder Partners (www.lauderpartners.com)

Lauder Partners is a Silicon Valley-based venture capital firm that has invested in over 60 private companies over the past 22 years. Areas of investment specialty include cable/IPTV/TV-related technologies and Internet/web/telecom spaces, but occasionally include great companies that defy traditional classification such as ShotSpotter. For more information, please visit http://www.lauderpartners.com.

About Levensohn Venture Partners (www.levp.com)

Levensohn Venture Partners (LVP) is an early stage venture capital firm investing in information technology companies. The firm targets companies that have completed their initial product development and established early customer and revenue traction. Founded in 1996, LVP's portfolio companies include Akros Silicon, Atheros, BigFix, Broadlogic, Capella, KnowNow, Rapt, Reconnex, Ubicom, and Veraz Networks. For more information, please visit http://www.levp.com.

About ShotSpotter, Inc. (www.shotspotter.com)

ShotSpotter, Inc., the leading developer of gunshot location systems and technology, is based in Santa Clara, CA. ShotSpotter's flagship product, which detects gunfire across large urban areas using a small number of inexpensive and easy-to-deploy sensors, currently protects the citizens of cities nationwide, from Los Angeles, CA to Washington, DC. Its products assisted the FBI and the Franklin County Sheriff's Office in identifying and capturing the Columbus, OH highway sniper suspect. In 2000, ShotSpotter was honored for its technology vision and leadership when got won the Computerworld Smithsonian Laureate Award, having been nominated by William H. Gates, chairman and chief software architect of Microsoft Corporation, and the Smithsonian added its technology to the museum's permanent collection. With technology covered by numerous patents, the company offers products to the law enforcement, homeland security and military markets. ShotSpotter technology has consistently produced arrests and weapons confiscations nationwide and has helped reduce gunfire and crime rates in cities that deploy it.

Source: ShotSpotter, Inc.