That’s the amount of fresh capital the 10-year-old company raised from such giants as AT&T Ventures, Axon Enterprise and Cox Enterprises.
This newest gov tech bet underscores the business opportunities offered by the ongoing upgrades to 911 systems nationwide, an effort that is increasingly relying on artificial intelligence.
Indeed, privately held Carbyne said in the release announcing the new funding that its APEX cloud-based call management platform has experienced 477 percent year-over-year growth in recurring revenue, a data point that reflects the demand for next-gen 911 tools.
Meanwhile, the number of agencies using that platform has doubled, though the company provided no numbers. Carbyne said it has a presence in 23 states.
Other participants in the funding round include Global Medical Response, Hanaco Growth, Hercules Capital, RCM Private Markets Fund managed by Rokos Capital Management (US) LP, and Silicon Valley Bank.
“This round came together quickly,” Amir Elichai, founder and CEO of Carbyne, told Government Technology via email. “There was strong interest from current and new investors in Carbyne’s growth and vision. Carbyne was in the fortunate position of choosing its financial partners and negotiating terms from multiple term sheets.”
The capital will go toward such areas as innovation, scaling global operations, security, privacy and platform reliability, according to the statement.
More specifically, Carbyne plans to hire more engineers and R&D professionals, “deepen its AI capabilities” and improve its market strength in North America, Latin America and EMEA.
The company also expects to sign more “strategic partnerships and integrations” as emergency dispatch technology continues to improve.
"As Carbyne continues to innovate in the government technology space, the company recognizes the need to create incredibly secure technology that supports mission-critical industries," Elichai said. "Carbyne continues to focus on its international growth while upholding the highest standards of cybersecurity and compliance, maintaining security, privacy, and reliability at the core of the platform."
This funding round comes just months after another big capital raise in the same area of gov tech.
In late May, Prepared, a young emergency dispatch supplier known for its livestreaming and translation tech, raised $80 million in a round that included Andreessen Horowitz.
