Solink secures $5M VC financing led by Generation Ventures, ScaleUp Ventures

Solink Corporation has raised $5 million in new funding, led by Generation Ventures, with participation from ScaleUp Ventures, BDC IT Venture Fund and Valor Equity Partners.

Founded in 2009, Ottawa based Solink has been backed by Wesley Clover International.

In connection with the financing, Laura Lenz, VP of Investments for Generation Ventures, and Matt Roberts, Partner at ScaleUp Ventures, have joined Solink board of directors.

Solink Corporation is a cloud-based security solution for video recording, loss prevention, and investigations.

Solink’s software-based security solution seamlessly integrates with existing cameras and other data systems including point of sale (POS) to protect quick service restaurants, retail stores, and financial institutions. Solink uses video and data to automatically learn behaviour that leads to internal and external theft. Solink turns any camera into a smart camera by layering data and context from other systems and using AI to identify the most important activity.

“We are pleased to have secured the confidence, commitment and ongoing support of investors with a track record of success in supporting iconic companies,” said Mike Matta, Solink CEO. “Together, we will be able to meet the growing demand for our solution while making surveillance video a source of insight, instead of just an insurance policy. With so many hours of surveillance video recorded, businesses need Solink to proactively identify fraud and deliver business insights.”

“I needed an efficient way to get to the information that was locked inside all of my video content,” said Chris Alihemmat, Church’s Chicken® franchise owner. “So, I looked for a solution that could easily connect to my existing POS and use my existing cameras, and that’s when I came across Solink. What’s more, the analytics Solink delivers are nothing short of amazing. I can find specific details, check transactions, search events and look at graphs in seconds. It works simply and flawlessly.”

Customers also embrace Solink because its solution removes the need for proprietary hardware (e.g. DVRs), is always up to date with the latest enhancements, and requires no capital investment. The cloud-based platform transforms the way businesses manage video, security, and data, by proactively identifying fraud and improving loss prevention, while delivering a simple yet comprehensive user experience on their mobile device or desktop computer.

photo credit: Solink

Ted Liu

Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.