RapidSOS Raises $85M Series C Led by Insight Partners to Scale Emergency Response Data Platform
NEW YORK, Feb. 9, 2021 /PRNewswire/ -- RapidSOS, creators of the world's first emergency response data platform, today announced it closed $85M in Series C funding led by global venture capital and private equity firm Insight Partners. Insight is a leading software investor with over $30B AUM after announcing its 11th flagship fund, Fund XI at $9.5B in April, 2020. The investment, which brings RapidSOS's total funding to $200M, will advance the company's work to connect emergency data from digital health, smart buildings, security, connected vehicles, and app companies with first responders globally.
The RapidSOS Platform powers 4,800+ Emergency Communications Centers (ECCs) across the US, covering 92% of the population, and is integrated with over 350 million connected devices. These devices, recognized as RapidSOS Ready, transmit real-time location, health and medical information, connected building and alarm data, and more in an emergency.
"2020 reminded all of us of the heroic work that first responders do in our most challenging moments," said Michael Martin, founder & CEO of RapidSOS. "We spent the past eight years building the RapidSOS emergency response data platform in partnership with thousands of first responders — collaborating with leading technology companies to provide the right data, at the right place, at the right time to save lives across over 150 million emergencies annually."
The new funding supports RapidSOS's mission to link connected devices to first responders globally when we need it most — providing a life-saving ecosystem of safety, security, and digital health. For example, the RapidSOS Platform connects data from the following sources with 911 and first responders in an emergency: crash impact and occupant data from connected vehicles, critical health and medical information from medical profiles, wearables and devices, and alarm information, address, sensor data, and multimedia from connected buildings.
"Insight has a history of backing category-defining companies, and RapidSOS has all the makings of one in the emergency response space," said Nikitas Koutoupes, Managing Director at Insight Partners. "We are excited to have our team of software ScaleUp and platform experts help drive RapidSOS's mission."
2020: An Unprecedented Year for Emergency Response
This past year put a spotlight on the importance of faster and more effective emergency response. The need for critical, life-saving data was never more apparent than in 2020 when the world faced unprecedented emergencies, including the COVID-19 pandemic, natural disasters, and domestic threats like the Christmas Day Nashville bombing.
Data from the RapidSOS Platform was used in over 150 million emergencies during the calendar year (on average, 400,000+ per day) and in some cases became the critical link between citizens and first responders when traditional voice 911 circuits went down in major disasters or attacks.
Facing the global pandemic, RapidSOS worked to accelerate the connectivity between health data and 911.
Millions of Americans are able to share important medical information with 911 through the Medical ID feature on an iPhone. When a user chooses to set up the feature, the information is shared when making an emergency call or using the Emergency SOS feature, in supported regions. In addition, in collaboration with the American Red Cross, the American Heart Association, and Direct Relief, RapidSOS launched the Emergency Health Profile, a simple and free way for anyone to share their health data with 911.
With the support of Insight Partners and existing investors, RapidSOS plans to accelerate its partnership with first responders globally, supporting their life-saving work with critical data from hundreds of millions of devices.
In partnership with public safety, RapidSOS has created the world's first emergency response data platform that securely links life-saving data from 350M+ connected devices to emergency services and first responders. Through the platform, RapidSOS provides intelligent data that supports over 4,800 Emergency Communications Centers worldwide, across 150 million emergencies in 2020. Together with innovative companies recognized as RapidSOS Ready, RapidSOS is supporting first responders in saving millions of lives annually.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.