Joe GallopHalo, the public safety and security software used at the coronation of King Charles III and the state funeral of Queen Elizabeth II, has secured further equity funding through Crowdcube.
This funding round has raised the valuation of the crowd safety and security operations tech platform to £10 million.
The company recently received the King’s Award for Enterprise in Innovation and was oversubscribed in its first crowdfunding investment call, achieving 198% of its target raise.
Halo Solutions secured a total of £489,610 from 188 equity investors, bringing the total number of investors in the company to 220.
Halo has been used at events, venues, and stadiums such as the Eurovision Song Contest, FIFA World Cup fan zones in Qatar, the Miami F1 Grand Prix, Silverstone’s British Grand Prix and Moto GP. It also ensures safety at major UK events like Notting Hill Carnival, Glastonbury and the Edinburgh Military Tattoo.
The global market for incident and emergency management was valued at $121.4 billion in 2022 and is expected to exceed $163 billion by 2027. Halo has forecasted 340% revenue growth in FY23 and has a client retention rate of 93%.
Founded in 2018 by CEO Lloyd Major, a former national counter-terrorism police officer with over 20 years of experience, Halo Solutions has grown to employ 16 people.
Major said, “The capital raise will enable us to continue our development funding of the software with more client-led features whilst also helping to fund marketing campaigns into new territories and power up our global expansion into America, Europe and the Middle East.”