|The new financing is necessary to achieve Eyewitness’s strategic goals through its ‘zero-down’ model|
Eyewitness Surveillance (Eyewitness), the industry leader in remote interactive video monitoring solutions specializing in serving mid and large-sized automotive dealerships, announced recently that it has secured new financing to enable its continued expansion and business growth.
Future Growth & Goals
This new financing support, a $15 million facility from The PrivateBank, will be particularly valuable to Eyewitness as it continues to realize its strategic future growth goals within key automotive dealership and metal recycling organizations:
- Developing new accounts in existing and new geographic markets, particularly its new Midwestern clients, including Acura of Columbus, Superior Auto Group, Hare Chevrolet, Bettenhausen Automotive, Currie Motors, Gary Lang Auto Group, and Nickelson Industrial;
- Enhancing its overall product line and building on its account management and customer service structures and support teams; and
- Continuing to drive growth and deeper value propositions in the offering of ‘surrounding’ security services, including Eyewitness’s Sales Direct and Service Lane Kit 2.0 products.
Securing this new financing is necessary to achieve Eyewitness’s strategic goals through its ‘zero-down’ model that covers the cost of new equipment and installation. One key trend that has resulted from Eyewitness’s expansion and growth achievements to-date has been the increased value clients have seen from shifting from physical guard security to the use of video monitoring and remote surveillance applications and services. Eyewitness’s clients are also able to experience first-hand benefits from operational solutions tools that go beyond security, and deliver results relating to sales and customer management, false claims, and financial compliance. This strategic approach has been a critical engine that has enabled Eyewitness to continue to penetrate and grow within its new and existing customer markets over the past several years.
“We are thrilled to announce this new financing. Partnering with The PrivateBank will enable us to continue our nationwide footprint and further invest in innovative service offerings to deliver maximum value and return-on-investment to our customers,” said Eyewitness’s President, RT Arnold.
Eyewitness will continue to build on its overall operational value offering and achieve its large-scale goal of substantial market penetration in all five of its target regions across the United States over the next 12-15 months. These efforts will also be supported by the company’s three new product offerings that are on track for announcement in the near future, including enhancements to its Service Lane Kit 2.0, Sales Direct offerings, and Inventory Snapshot.
“We are pleased to provide this financing to support Eyewitness and its future growth and evolution,” Mark Melendes, Managing Director of The PrivateBank noted. “Eyewitness Surveillance is a leader in security and video surveillance and we are excited to support their growth strategy.”