Back to blog home
thumbnail

Rhombus Systems Raises $10M Led by Cota Capital

October 21, 2021

Rhombus is thrilled to announce a $10M round of funding led by Cota Capital. First and foremost, this would not be possible without our great customers, partners, and employees. We are thankful to them and everyone who has helped us get to this point. We’re on a mission to make the world safer with simple, smart, and powerful physical security solutions and this additional capital will ensure we have the resources to keep delivering on that mission.

rhombus-funding-series-a

We are looking forward to continuing this journey with our new partner, Cota Capital. They have decades of experience building enterprise SaaS companies and will help us scale our global footprint from 10,000 to 100,000 managed locations.

rhombus-locations-map

"We are excited to partner with Rhombus, who has developed an innovative cloud-managed platform that leverages AI-powered security cameras and smart sensors to gain critical insights into physical spaces," said Bobby Yazdani, Founder and Partner of Cota Capital. "We look forward to working with the talented Rhombus team as we believe in the company's vision and expertise to address the physical security challenges today's modern organizations face."

rhombus-3x-year-over-year-growth

Rhombus Systems has experienced 3x year-over-year growth since 2016.

With this additional capital, we plan to accelerate new product offerings, hire talent to create experiences customers and partners love, and continue building a business that will stand the test of time.

As for funding specifics, this round included participation from existing investors MSD Partners, Lemnos Labs, and Promus Ventures and brings our total funding to over $20M. The company is also backed by other great investors including Uncorrelated Ventures, Portfolia, and individual investors including Michael Stoppelman (formerly of Yelp), Tim Lee (formerly of Sequoia Capital), Sharon Wienbar (formerly Scale Venture Partners), and Suresh Batchu (Co-founder of MobileIron).

Again, thank you to our customers, partners, and employees. We could not have done this without you. Cheers to a brighter and safer future!

Garrett, Co-Founder and CEO of Rhombus Systems