Evolv Technology Makes Security Smarter and More Proactive to Safely Reopen Venues

Rhea-AI Summary

Evolv Technology (NASDAQ: EVLV) has announced enhancements to its Evolv Insights™ platform, a SaaS-based analytics dashboard for security professionals. These advancements aim to empower venue operators by providing on-demand insights to improve safety and the visitor experience. Key features include enhanced threat tagging, remote scanner management, and actionable analytics to optimize security and staffing. The improvements will be generally available starting October 8, aimed at addressing rising concerns over security in public venues amid increased gun violence and social unrest.

Positive

• Evolv Insights™ enhancement provides real-time data to improve security protocols and visitor experience.
• Remote management capabilities allow for proactive decision-making on security from any location.
• Increased efficiency in threat detection and response times with new Alert Category Analysis dashboard.

Negative

• None.

State-of-the-art weapons detection technology advances security screening to a new standard, providing remote management and actionable insights on-demand

WALTHAM, Mass.--(BUSINESS WIRE)-- Evolv Technology (NASDAQ: EVLV), the global leader in weapons detection security screening, today announced further advancements to Evolv Insights™, the company’s powerful SaaS-based analytics dashboard that provides security and operations professionals the ability to comprehensively review, analyze and collect valuable data on-demand from the Evolv Express® system to prevent mass casualties.

With vaccination rates continuing to increase, more venues are welcoming guests back in a safe and responsible way. Rising levels of gun violence, along with social unrest fueled by the global COVID-19 pandemic, have simultaneously increased guests’ unease while attending public venues. Evolv Insights helps venues keep their guests safe by providing on-demand insights to security experts to provide that all entry points are secure and visitors are flowing through without queueing up in long lines, creating security threats. Venue operations experts can also use the insights to improve their visitors’ experience.

Security solutions have long been considered sunk costs to executives. Smart venues are using cutting edge technology from Evolv to drive value back to the venue, while keeping it more secure. Venue operations can now rely on the expertise of security professionals and the insights they gather in decision-making, from venue staffing decisions to traffic management and monitoring decisions, to the retail and concessions offerings that make for a great visitor experience. Evolv Insights empowers security-led venue operations by helping to explore and compare data such as visitor arrival curves, system performance, alarm statistics, detection settings, threat category analysis, and event specific statistics.

“The venues and workplaces that are welcoming guests and employees back responsibly are putting safety and security at the forefront of that initiative, and Evolv Insights provides the data and insights necessary to provide the safest possible experience,” said Peter George, CEO, Evolv. “The ability to be proactive, continuously improve, and even predict security requirements for a venue to avoid future risks and provide a better guest experience is what security and venue operations are lacking. We are happy to continue to advance the digital threshold to fill that void.”

"With the improved Threat Tagging workflow on the tablets, our guards will be able to tag alerts more accurately and efficiently,” said Michael Van Tubbergen, Security Operations Manager, Four Winds Casino. "The new Alert Category Analysis dashboard gives us detailed visibility into what threat items are being detected and allows us to provide easy, accurate reporting to our security, operations, and leadership teams."

"As we look down the road - I want to make sure there is no operator complacency. It's quality assurance and quality control. The ‘What If’ analysis gives me that ability," said Kevin Wilkes, Chief Security Officer, Pittsburgh Cultural Trust. "Insights Analytics helps us better understand the shows, our customers, and the users of our space. I could take that data and demonstrate to leadership the required posture - that Broadway, operas, and kids performances do not all require the same levels of security and staffing"

The enhancements to Evolv Insights offer security and operational analytics that make venues smarter. Venue leadership can get the data they need on-the-go to optimize security, staffing, traffic flow, and resource use. Data-driven decisions with Evolv Insights boost operational efficiencies and improve the guest experience while maintaining a high degree of venue safety in the following ways:

• On-demand: Understanding what your security posture is at any time and being able to proactively address potential risks to human safety is what security and operations leaders need. The new mobile access feature provides key metrics and remote scanner management to enable data-driven decisions about their security posture from any location, for more responsive venue management.
• Data-driven: Improving security posture, staffing and training, and venue resource planning has never been available through security screening until Evolv Insights. The new advancements to reporting allow for a deeper understanding of potential threats and a fine tuning of the system to provide enhanced security and visitor experience to the venue, including interrogation of threat types and alarm rates, informed decisions around sensitivity settings, and better understanding of event characteristics.
• Connected: Large venues and campuses have several different access points. The new remote management capabilities allow administrators anywhere on the campus or in the world to access Evolv Express systems for remote configuration and monitoring, including important notifications and system changes.

These advancements will be generally available on October 8^th. For more information about Evolv Express, Evolv Insights, or to see a demo, visit our website.

About Evolv Technology

Evolv Technology (NASDAQ: EVLV) is a leader in weapons detection for security screening, securing the world’s most iconic venues and companies. Its mission is enabling a better experience and better security for venues, creating a safer world to work, learn, and play by transforming physical security to make everywhere safer. It gives sports fans, theme park visitors, concertgoers, shoppers, employees, students, and others peace of mind so that they can gather without fear of violence. Its security screening has scanned more than 100 million people, second only to the Department of Homeland Security’s Transportation Security Administration (TSA) in the United States, and its technology combines powerful, advanced sensors with proven artificial intelligence (AI), security ecosystem integrations, and comprehensive venue analytics to reliably detect threats 10 times faster than traditional metal detectors.

Evolv Technology, Evolv Express®, Evolv Insights™, and Evolv Cortex AI™ are registered trademarks or trademarks of Evolv Technologies, Inc. in the United States and other jurisdictions.

For more information, visit our website.

Forward-looking Statements

Certain statements in this press release may constitute “forward-looking” statements and information, within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events. All statements other than statements of historical facts contained in this press release, including statements regarding the potential of the Evolv Express® security system are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In some cases, these forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “should,” “could,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or the negative of these terms or other similar expressions.

These forward-looking statements are subject to risks, uncertainties, and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events or our Company’s performance and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation the risk factors set forth under the caption “Risk Factors” in our proxy statement/prospectus, filed with the Securities and Exchange Commission (the “SEC”) on June 28, 2021, as updated by the risk factors disclosed in the section titled “Risk Factors” in our Form 8-K, filed with the SEC on July 22, 2021, and in our other documents filed with or furnished to the SEC.

These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210927005244/en/

Media:

Fitzgerald Barth

fbarth@evolvtechnology.com

Investor:

Brian Norris

bnorris@evolvtechnology.com

Source: Evolv Technology

FAQ

What are the recent advancements in Evolv Technology's Evolv Insights™?

Evolv Technology announced enhancements to Evolv Insights™, which includes improved analytics for security professionals and new remote management capabilities aimed at enhancing safety and visitor experience.

When will the new features of Evolv Insights™ be available?

The advancements to Evolv Insights™ will be generally available starting October 8.

How does Evolv Insights™ improve security in public venues?

Evolv Insights™ helps security professionals by providing on-demand analytics, enabling proactive risk management and improved visitor flow without long queues.

What is the significance of the new mobile access feature in Evolv Insights™?

The new mobile access feature allows security leaders to monitor and manage security metrics remotely, enhancing responsiveness to potential risks.

What impact does Evolv Insights™ have on operational efficiencies?

The insights provided by Evolv Insights™ support better staffing decisions, resource management, and overall operational efficiency in venues.