Evolv Technology Rounds Out Boston Sports Screening by Adding TD Garden

Rhea-AI Summary

Evolv Technology (EVLV) partners with TD Garden to enhance security for Boston sports fans and visitors, deploying AI-based weapons detection systems for a seamless and efficient screening process. The partnership aims to elevate safety standards and improve fan experiences at major league sports venues.

Insights

Security Technology Analyst

From a security technology perspective, the adoption of Evolv's AI-based weapons detection systems by major sports venues represents a significant advancement in event security. The Evolv Express® system's use of advanced AI and sensor technology allows for a seamless and non-intrusive screening process, which is a considerable improvement over traditional metal detectors that often create bottlenecks and require personal item divestment. The technology's ability to screen guests at a natural walking pace without the need for stopping or emptying pockets can greatly enhance throughput, reducing queues and thus improving the overall fan experience.

Moreover, the implementation of such systems can have a positive impact on operational efficiency and cost savings in the long term. With faster screening times, venues may require fewer staff members to manage entry points and the risk of potential security incidents could be reduced, potentially lowering insurance premiums and liability costs. The increased sense of safety may also encourage higher attendance rates, indirectly boosting revenue for the venues.

Sports Business Analyst

From a business standpoint, Evolv Technology's partnership with TD Garden and other prominent Boston sports venues signifies a strategic move to enhance customer satisfaction and loyalty. The sporting industry is highly competitive and teams are constantly seeking ways to improve the fan experience. By streamlining the entry process and minimizing wait times, TD Garden is not only addressing a common pain point for event attendees but also setting a new standard for event security and efficiency.

It's important to note that the safety of fans has become a critical selling point for venues, especially in the wake of publicized incidents at large gatherings. The deployment of Evolv's systems could serve as a market differentiator, potentially increasing ticket sales and enhancing the venue's reputation. This could lead to increased sponsorship deals and partnerships, as brands often align with venues that prioritize customer experience and safety.

Investment Analyst

From an investment standpoint, Evolv Technology's announcement is likely to be viewed positively by the market. The partnership with TD Garden adds to the company's portfolio of high-profile clients and could serve as a proof point for the effectiveness and desirability of its security systems. This could lead to increased investor confidence and potentially drive up the company's stock price.

However, investors should also consider the scalability of Evolv's operations and the potential for margin improvement as the company expands. The cost of deploying and maintaining high-tech security systems can be substantial and it will be crucial for Evolv to demonstrate that it can manage these costs effectively while scaling up. Any indication of successful cost management or additional high-profile partnerships could further bolster investor sentiment.

All major league Boston sports teams now secured by Evolv for better fan experiences

WALTHAM, Mass.--(BUSINESS WIRE)-- Evolv Technology (NASDAQ: EVLV), the leading security technology company pioneering AI-based weapons detection to create safer experiences, today announced its partnership with TD Garden, New England’s premier sports and entertainment arena and home of the storied NHL’s Boston Bruins and NBA’s Boston Celtics.

This latest partnership means that New England fans and visitors attending sporting events, concerts or other entertainment experiences at Gillette Stadium, Fenway Park, Boston College and now, TD Garden, will pass through Evolv’s state-of-the-art weapons screening systems, Evolv Express®, without having to always empty their pockets or wait in long lines.

“TD Garden is committed to providing a best-in-class experience for our guests, and safety and security is paramount,” said Glen Thornborough, president of TD Garden and COO of Boston Bruins. “Evolv’s innovative technology allows us to do just that, while also streamlining the entry process and minimizing wait times.”

Evolv has revolutionized security and the ease with which people gather for events by replacing traditional metal detectors with advanced weapons screeners that provide a better, faster, and safer experience. Evolv’s Express system utilizes advanced AI and sensor technology to screen guests as they walk through security at the pace of life. Guests simply walk through a sleek and modern screening lane, reducing the need to divest personal effects. This not only enhances security but also creates a more positive and efficient experience for everyone. The new entry process at TD Garden will begin on February 17.

“We are proud to call Boston our home,” said Peter George, CEO of Evolv Technology. “Our company was founded on a vision to make the world safer. Ten years ago, our co-founders, like all of us, were reeling from the tragedy at the Boston Marathon and knew there needed to be a better way to make people safer where they gather. A decade later, we are honored to work with more than 600 customers around the world to make that vision a reality; and it is especially meaningful to help protect our hometown. We are Boston Strong.”

Since the launch of Evolv Express in 2019, Evolv has screened more than 1 billion people. Evolv’s technology can be found in leading theme parks, sports stadiums, performing arts centers, casinos and arenas in addition to hundreds of schools, hospitals and places of worship. Evolv is committed to making the world a safer place to live, learn, work and play.

About Evolv Technology

Evolv Technology (NASDAQ: EVLV) is transforming human security to make a safer, faster, and better experience for the world’s most iconic venues and companies as well as schools, hospitals, and public spaces, using industry leading artificial intelligence (AI)-powered weapons detection and analytics. Its mission is to transform security to create a safer world to work, learn, and play. Evolv has digitally transformed the gateways in places where people gather by enabling seamless integration combined with powerful analytics and insights. Evolv’s advanced systems have scanned more than a billion people since 2019. Evolv has been awarded the U.S. Department of Homeland Security (DHS) SAFETY Act Designation as a Qualified Anti-Terrorism Technology (QATT) as well as the Security Industry Association (SIA) New Products and Solutions (NPS) Award in the Law Enforcement/Public Safety/Guarding Systems category. Evolv Technology®, Evolv Express®, Evolv Insights®, Evolv Cortex AI®, and Evolv Visual Gun Detection™ are registered trademarks or trademarks of Evolv Technologies, Inc. in the United States and other jurisdictions. For more information, visit https://evolvtechnology.com.

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. In some cases, these forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” 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 in our Annual Report on Form 10-K for the year ended on December 31, 2022, that was filed with the SEC on March 24, 2023, as may be updated in other filings we make with the SEC, including our Quarterly Report on Form 10-Q for the quarter ended on September 30, 2023 that was filed with the SEC on November 9, 2023. 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/20240213066807/en/

Media Contact:

Alexandra Smith Ozerkis

aozerkis@evolvtechnology.com

Investor Contact:

Brian Norris

bnorris@evolvtechnology.com

Source: Evolv Technology

FAQ

What is the partnership announced by Evolv Technology related to?

Evolv Technology (EVLV) announced a partnership with TD Garden, New England’s premier sports and entertainment arena, to enhance security measures for fans and visitors attending events at major league sports venues.

What technology is being utilized by Evolv Technology for weapons screening?

Evolv Technology (EVLV) is deploying AI-based weapons detection systems, specifically the Evolv Express®, to streamline the screening process for fans and visitors at TD Garden and other sports venues.

When will the new entry process at TD Garden begin?

The new entry process at TD Garden utilizing Evolv Technology's screening systems is set to commence on February 17.

How many people has Evolv screened since the launch of Evolv Express in 2019?

Evolv Technology (EVLV) has screened over 1 billion people since the introduction of Evolv Express in 2019, demonstrating the widespread adoption of their advanced security technology.

Where can Evolv Technology's security technology be found?

Evolv Technology's (EVLV) advanced security technology is deployed in various locations including theme parks, sports stadiums, performing arts centers, casinos, arenas, schools, hospitals, and places of worship, showcasing its versatility and broad application.