Sunday, July 21, 2024

Latest equity funding round sees Nottinghamshire crowd and public safety tech company achieve £10m valuation

Halo, the public safety and security software, which was used at the coronation for King Charles III and the state funeral of Her Majesty Queen Elizabeth, has secured further equity funding via crowdfunding platform Crowdcube.

This now takes the crowd safety and security operations tech platform to a £10 million valuation.

The public safety and security technology, which was the recent recipient of a King’s Award for Enterprise in Innovation, was oversubscribed in its maiden crowdfunding investment call, achieving 198% of its target raise. Halo Solutions secured a total of £489,610 from 188 equity investors on the Crowdcube trading platform, taking the total number of investors in the company to 220.

The Halo System provides a public safety, security and incident response platform that streamlines all aspects of crowd safety, incident management, security and operations into one place. It protects over 3 million people per day on average.

It is used at some of the world’s biggest and most prestigious events, venues and stadiums including the Eurovision Song Contest, FIFA World Cup fan zones in Qatar, the Miami F1 Grand Prix, Silverstone’s British Grand Prix and Moto GP.

It has also protected fans at some of the UK’s biggest entertainment events, from Notting Hill Carnival and Glastonbury to the Edinburgh Military Tattoo. Halo was also used at the coronation of His Majesty King Charles III and the state funeral of Her Majesty Queen Elizabeth.

The global market for incident and emergency management alone was valued at $121.4 billion in 2022 and is forecast to exceed $163 billion in 2027. Halo has also forecast 340% revenue growth in FY23 and has a client retention rate of 93%.

Now employing 16 people, Halo Solutions was founded in 2018 by CEO Lloyd Major, a former national counter terrorism police officer, crowd safety and event security adviser with more than 20 years of policing experience, including police training and public order command at major sporting events.

He was also the first operational police planner in the UK to obtain a Master’s degree in Emergency Planning and Management, developing a totally new process for threat assessment at public events, which became national policing policy.

Commenting on the recent investment round, Halo Solutions founder and CEO Lloyd Major said: “We are absolutely delighted with the response from our maiden funding round with Crowdcube and thrilled to welcome on board our new investors on this exciting next phase of our journey.

“The capital raise will enable us to continue our development funding of the software with more client-led features whilst also helping to fund marketing campaigns into new territories and power up our global expansion into America, Europe and the Middle East.”

Midven, one of Halo’s main investment partners, has also strengthened its further investment into the tech company to support its global growth and expansion.

Surjit Kooner, investment director of Midven, said: “Midven, a part of Future Planet Capital, is delighted to be able to further support Halo Solutions in their latest fundraising round. The progress Halo have made to date is testament to the dedication of Lloyd and the broader team.

“The funds raised will play a pivotal role in the next stage of Halo’s growth, enabling them to expand the product range of their lifesaving crowd and security software, enter new territories, and enhance their marketing efforts.”

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