Knightscope Cross-Sells Hospital Client

Rhea-AI Summary

Knightscope, Inc (NASDAQ: KSCP) has expanded its market presence by signing a contract with an existing hospital client. This contract will see the deployment of a K5 Autonomous Security Robot to patrol the parking lots of a 206-bed medical center in Northern California, catering to nearly 3 million healthcare members. The deal exemplifies the company's cross-selling strategy, with potential for six additional opportunities identified by the client. Knightscope aims to enhance U.S. security operations through its advanced technology.

Positive

• Signed a new contract with a hospital client, expanding market presence.
• Utilizing a K5 Autonomous Security Robot for enhanced security at a 206-bed medical center.
• Identified six additional cross-selling opportunities, indicating growth potential.

Negative

• None.

Public Safety Innovator Continues Market Expansion

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Knightscope, Inc. [Nasdaq: KSCP], a developer of advanced physical security technologies focused on enhancing U.S. security operations, today announced that it signed another contract with an existing hospital client.

Knightscope Cross-Sells Hospital Client (Photo: Business Wire)

Cross-selling is the practice of selling an additional product or service to an existing client. It is one of the primary methods of generating new revenue and is, perhaps, one of the easiest ways to grow a business since there is already an established a relationship with the client and familiarity with their needs and objectives. This new contract will utilize a K5 Autonomous Security Robot to patrol the parking lots of a 206-bed medical center that serves as a care facility for nearly 3 million healthcare members throughout Northern California. If Knightscope continues to perform well, the client has identified six additional cross-selling opportunities.

About Knightscope

Knightscope is an advanced security technology company based in Silicon Valley that builds fully autonomous security robots that deter, detect and report. Knightscope’s long-term ambition is to make the United States of America the safest country in the world. Learn more about us at www.knightscope.com. Follow Knightscope on Facebook, Twitter, LinkedIn and Instagram.

Forward Looking Statements

This press release may contain ”forward-looking statements” about Knightscope’s future expectations, plans, outlook, projections and prospects. Such forward-looking statements can be identified by the use of words such as ”should,” ”may,” ”intends,” ”anticipates,” ”believes,” “estimates,” “projects,” “forecasts,” “expects,” “plans,” ”proposes” and similar expressions. Although Knightscope believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in the offering circular filed with the SEC on January 26, 2022. Forward-looking statements speak only as of the date of the document in which they are contained, and Knightscope does not undertake any duty to update any forward-looking statements except as may be required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220321005378/en/

Donna Loughlin Michaels, LMGPR, (408) 393-5575

Source: Knightscope, Inc.