NEWARK, Calif. – October 3, 2018: Falcon Capital Partners, LLC, a leading middle-market investment bank, is pleased to announce the sale of HunchLab, a product of Azavea Inc., to ShotSpotter, Inc. (Nasdaq: SSTI).
Azavea, a B Corporation located in Philadelphia, PA, is a developer of geospatial web applications, data analytics, and research tools focused on harnessing the power of technology to improve communities and our planet. The Company developed HunchLab as a way to make communities safer and also enable police departments to make the most efficient use of their resources. HunchLab uses machine learning algorithms to estimate the risk for future crimes at a particular location. These forecasts or predictions are then turned into patrol priorities and disseminated to officers in the field. The product has been deployed with overwhelming success in various geographies across the United States including Chicago, Los Angeles County, and St. Louis County.
ShotSpotter, Inc., located in Newark, CA, is a leader in gunshot detection solutions that help law enforcement officials identify, locate and deter gun violence. ShotSpotter solutions are trusted by more than 90 cities to help make their communities, campuses and facilities safer.
Falcon served as exclusive sell-side advisor to Azavea. Azavea’s President & CEO Robert Cheetham commented, “The team at Falcon was integral to shepherding this transaction to a successful outcome. Mark and Don proved very knowledgeable of both the public safety sector and also the nuances of undertaking a carve-out of this nature. ShotSpotter will be a great home for HunchLab as they are committed to carrying out HunchLab’s mission of making our communities safer while being committed to transparency with the communities they serve.”
The terms of the transaction were not disclosed. The ShotSpotter press release can be found here.
Falcon has represented more than a dozen technology companies in the public safety and public sector space, including most recently MetroAlert, Inc., a Pennsylvania based police records management software company, which was acquired by Zuercher Technologies in 2018. The Falcon deal team was led by Managing Director Mark Gaeto and Vice President Don Wanner. For more information please contact Mark at firstname.lastname@example.org, 610-989-8903 or Don at email@example.com. 610-989-8907.