Greater Sum Ventures Makes Majority Investment in Utility, Inc., a Technology Company for Frontline Professions
November 29, 2023
For Immediate Release
Braemar Energy Ventures remains a minority investor following transaction.
Braemar Energy Ventures (Braemar), a leading venture capital firm focused on transformative climate tech companies pioneering the energy transition, announced that it will continue as a minority investor in Utility Associates, Inc. (Utility), following the majority investment completed by Greater Sum Ventures (GSV). Since Braemar’s initial investment in 2006, Utility has grown into a company that is now at the forefront of providing innovative digital systems tailored for frontline professionals such as law enforcement officers and first responders.
Utility was previously backed by Braemar and Hicks Holdings LLC of Dallas. Hicks Holdings will also continue as a minority investor alongside new minority investor PSG Equity, a leading growth equity firm with a history of partnering with software and technology-enabled services companies to help accelerate their growth. Terms of the transaction were not disclosed.
The funding will provide additional capital to increase Utility’s investment in innovation and help further accelerate its growth. The company will continue to be led by President and CEO Michael Nark and the leadership team based in Decatur, Georgia.
Founded in 2000, Utility delivers digital systems for public agencies that depend on speed, accuracy, transparency, and easy-to-access data. The company meets the ever-increasing demands of frontline professionals and the communities they serve through digital evidence management, in-car video, and advanced body cameras. Utility’s suite of solutions include:
- EOS by Utility™: the only patented policy-driven body camera on the market that automatically activates and records based on response to specific operational sensors
- POLARIS by Utility™: a powerful, all-in-one cloud-based digital evidence and critical incident management platform that offers users a wide range of features and case management capabilities
- ROCKET by Utility™: a powerful, in-car communication and video platform complete with multi-dimensional capabilities and secure evidence-gathering automation to deliver comprehensive, time-saving intelligence
- HELIOS by Utility™: a central digital evidence management platform created for district attorneys, enabling the consolidation of digital files from various agencies into a singular organized interface
- PULSAR by Utility™: an AI-powered license plate capturing and alerting solution that strengthens the effectiveness of evidence collection and analysis
- TITAN by Utility™: a unified video access view for faster crime resolution and awareness to drive greater community safety, incident investigation, and suspect apprehension
About Utility
Utility, the innovative technology-enabled service provider recognized for creating groundbreaking digital systems for frontline professions, provides a universe of intuitive products for effectively capturing, managing, and releasing video evidence. Technologies include a variety of cameras, sensors and devices, as well as situational awareness software solutions for law enforcement, first responders, transportation agencies and utility providers. To learn more about Utility and its technology solutions, please visit www.utility.com.
About Greater Sum Ventures
Greater Sum Ventures (GSV) is an entrepreneurial family office that invests its own capital in middle market software and tech-enabled services companies. With entrepreneurial roots and proven operational and investing experience, GSV works with select independent co-investing partners to build platforms of technology companies that revolutionize the industries they serve. Headquartered in Knoxville, Tennessee, GSV provides access to capital and operational support to midmarket technology firms all over the world. To learn more, visit GreaterSumVentures.com.
About PSG Equity
PSG Equity (“PSG”) is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 130 companies and facilitated over 470 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid and Tel Aviv. To learn more about PSG, visit www.psgequity.com.
About Braemar Energy Ventures
Founded in 2003, Braemar Energy Ventures is a leading venture capital firm focused on investing in transformative energy-tech and related companies contributing to global sustainability and combating climate change. Using sector expertise and experience, Braemar aims to be an engaged partner with its portfolio companies to best help them navigate the path to creating significant global impact. For more information, visit braemarenergy.com.