Evolv Technology is a technology company.
Evolv Technology has raised $84.0M across 4 funding rounds.
Evolv Technology has raised $84.0M in total across 4 funding rounds.
Evolv Technology (NASDAQ: EVLV) is a leading security technology company that builds AI-based weapons detection and screening systems to create safer experiences at venues like stadiums, schools, hospitals, entertainment sites, and public spaces.[1][2][3][5] It serves high-traffic organizations seeking efficient threat detection, solving the problem of slow, invasive traditional security checks by enabling touchless, high-throughput screening that detects guns, knives, and explosives up to 10 times faster than metal detectors while reducing costs by as much as 70%.[2][4][5][7] Evolv's growth momentum is strong, with systems scanning over 250 million people—second only to the TSA—recent partnerships like becoming Arena’s “Official Patron Screening Provider” in December 2025, and expanded manufacturing for global scale.[2][3][5]
Evolv Technology emerged from a focus on transforming physical security amid rising gun violence and outdated screening methods, with early investment from DCVC in 2016.[4] Key founders include Mike Ellenbogen, cofounder and chief innovation officer, who emphasizes protecting sensitive security details akin to aviation standards, alongside Anil and Peter, driving the company's mission to keep people safe from weapons, explosives, and even illness.[2][4] Pivotal early traction came quickly: within three weeks at a major U.S. landmark, it detected an average of 2.3 knives and 1.1 guns daily; a historic mansion stopped over 1,200 concealed guns in its first year.[4] The company went public via a SPAC merger backed by DCVC, scaling its AI-sensor tech for real-world impact.[4]
Evolv rides the wave of AI-driven physical security transformation, fueled by rising mass violence (up nearly 50% from 2019-2020) and demand for dignified, frictionless safety in post-pandemic gatherings.[3][4][7] Timing aligns with AI maturation in sensors and analytics, enabling scalable threat detection where traditional methods fail, especially in high-volume venues.[1][2] Market forces like gun violence surges and regulatory pushes for better prevention favor Evolv, positioning it as a leader influencing standards—e.g., advocating non-disclosure of vulnerabilities and partnerships scaling global supply.[2][3][5] It shapes the ecosystem by digitizing gateways, integrating with cybersecurity norms, and proving AI's role in public safety second only to TSA.[2][7]
Evolv is poised to dominate AI security screening as venues prioritize speed and accuracy amid persistent threats, with expansions into manufacturing and high-profile deals signaling accelerated adoption.[3][5] Trends like deeper AI analytics, illness detection, and ecosystem integrations will propel growth, potentially capturing more of the $10B+ physical security market.[4] Its influence may evolve into industry standard-setter, pushing "dignified security" as routine—reinforcing its core mission to transform gateways for a safer world to live, work, learn, and play.[1][3][6]
Evolv Technology has raised $84.0M in total across 4 funding rounds.
Evolv Technology's investors include Altair Capital Management, Anorak Ventures, Dolby Family Ventures, Garden City Companies, Hoxton Ventures, Lux Capital, Presence Capital, Richmond Global Ventures, Tuesday Capital, Larry Braitman, Lawrence Braitman, Mike Kourey.
Evolv Technology has raised $84.0M across 4 funding rounds. Most recently, it raised $30.0M Series C in January 2020.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jan 1, 2020 | $30.0M Series C | Altair Capital Management, Anorak Ventures, Dolby Family Ventures, Garden City Companies, Hoxton Ventures, Lux Capital, Presence Capital, Richmond Global Ventures, Tuesday Capital, Larry Braitman, Lawrence Braitman, Mike Kourey | |
| Oct 1, 2019 | $24.0M Series C | Anorak Ventures, Dolby Family Ventures, Lux Capital, Presence Capital, Tuesday Capital, Mike Kourey | |
| Mar 1, 2017 | $18.0M Series B | Anorak Ventures, Dolby Family Ventures, Lux Capital, Presence Capital, Tuesday Capital, Mike Kourey | |
| Aug 1, 2013 | $12.0M Series A | Anorak Ventures, Calibrate Ventures, Dolby Family Ventures, Lux Capital, Osage University Partners, Presence Capital, Tuesday Capital, Mike Kourey |