Secures Up to $10 Million in Financing
Autonomous Security Robot Developer Partners with Dimension Funding, LLC
MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–#ai—Knightscope, Inc., a developer of advanced physical security technologies utilizing fully autonomous robots focused on enhancing U.S. security operations, announced today that it has secured up to $10 million in financing for its operations.
Knightscope has partnered with Dimension Funding to enable clients to finance their Autonomous Security Robot (ASR) subscription agreements. The program has been established to provide Knightscope clients with subscription financing alternatives of up to $10 million in the first 12 to 24 months.
Since 1978, Dimension Funding has built and maintained a solid track record and reputation as a trusted source for capital for U.S. and Canadian business owners, entrepreneurs and professionals to help grow their businesses. They specialize in working with equipment, software and technology vendors, providing innovative and flexible financing to their clients. They fund, on average, $50 million per year in vendor financing.
Dimension Funding has created a corporate culture of stability and integrity that is rare in the industry. Dimension uses its years of expertise and knowledge to create financing programs that best fit their clients’ needs. More than 80 percent of their business comes from repeat clients or referrals. Most of its staff have been with the company for over 10 years and many for much longer.
“We are excited to put this financing program in place to help our clients and allow us to accelerate our growth,” said William Santana Li, chairman and CEO, Knightscope. “We believe this is an opportunity to greatly improve our overall operational cash flow.”
Knightscope is an advanced security technology company based in Silicon Valley that builds fully autonomous security robots that deter, detect and report. Our long-term ambition is to make the United States of America the safest country in the world. Learn more about us at www.knightscope.com. Follow Knightscope on Facebook, Twitter, LinkedIn and Instagram.
This release may contain forward-looking statements regarding Knightscope’s proposed public listing of its securities and the timing thereof, projected business performance, operating results, financial condition and other aspects of the company, expressed by such language as “expected,” “anticipated,” “projected” and “forecasted.” These statements also include estimates of the pace of customer adoption of the company’s products, engineering developments and prototype capabilities. Please be advised that such statements are intentions or estimates only and there is no assurance that the results stated or implied by forward-looking statements will actually be realized by the company, or that the company will be able to consummate its planned goals (including without limitation, a public listing of its securities). Forward-looking statements may be based on management assumptions that prove to be wrong. The Company’s predictions may not be realized for a variety of reasons, including due to inability to raise a sufficient amount of funds, a lack of marketability for the company’s securities, failure of business operations, competition, customer sales cycles, and engineering or technical issues, among others. The Company and its business are subject to substantial risks and potential events beyond its control that would cause material differences between predicted results and actual results, including the company incurring operating losses and experiencing unexpected material adverse events.
Stacy Dean Stephens, (650) 924-1025