PALO ALTO, Calif.--(BUSINESS WIRE)--Norwest, a leading investment firm, today announced that it has made a growth equity investment in Envisage Technologies, LLC (Envisage), a leading SaaS provider of public safety training and compliance management systems. Norwest’s investment will help Envisage rapidly scale operations to meet increasing customer demand and address the critical needs of public safety personnel by accelerating the development of next-generation solutions for the industry. Current investor Armory Capital will continue its partnership with Envisage and retain a stake in the business.
Envisage, based in Bloomington, Indiana, develops SaaS products that automate the full spectrum of training and compliance operations for local, state, and federal agencies spanning corrections, criminal justice, emergency management, fire service, homeland security, law enforcement, military, and other government services.
“Over the past two decades, we’ve become the industry leader because of our vision and unwavering commitment to provide solutions that address the complex training, logistics and operational needs of public safety, military, and homeland security agencies,” said Ari Vidali, Envisage CEO. “This new investment will allow us to accelerate this vision in new and exciting ways while continuing our commitment to focus on the customer first. With Norwest’s financial backing and expertise scaling vertical SaaS companies, Envisage will be in an excellent position to rapidly grow as we support the men and women who put their lives on the line for us each and every day.”
The company has maintained a relentless focus on solving these challenges since 2001. This focus has launched Envisage into the leadership position serving over 1.9 million first responders across 9,800 departments, 30 States and numerous high-profile Federal Agencies. The company’s flagship SaaS product, the Acadis Readiness Suite, is the leading training and compliance ecosystem for high-risk, high-liability public safety and other government agencies. It is the only platform purpose-built for high risk training environments that has achieved the prestigious FedRAMP® Federal cybersecurity authorization.
In addition, Envisage’s FirstForward SaaS training platform helps public safety departments and individual first responders stay safe and ready for duty by making hundreds of courses, paperless training records, and exposure tracking easily accessible from any location. It also provides professional tools for departments to manage training, compliance, policy documents, and performance reviews in one system.
“We have great admiration for Envisage’s noble mission of improving readiness for public safety professionals. We are thrilled to be investing in the company and look forward to building on its leadership position,” said Rob Arditi, general partner at Norwest.
“We are thrilled to be partnering with the Envisage team and look forward to continuing to support the Company’s strong financial performance and profitable growth,” said Ran Ding, Principal at Norwest Venture Partners. “We are excited and deeply invested in furthering the company’s goals of improving safety in our communities through superior officer training and operational management.”
Trends in Public Safety Training and Compliance
Because lives and property are at stake, there are few jobs as dangerous, demanding and vital as public safety. Today’s highly regulated federal, law enforcement, EMS, or fire departments require sophisticated training and compliance management capabilities that generic software solutions are unable to provide.
One of the unique attributes of this industry is the requirement for personnel to maintain proven, measurable competence across numerous high-risk skills. The complexity and range of issues faced by first responders and military personnel has increased dramatically. So too has the need for highly secure, legally defensible training and compliance records to protect them from failure to train lawsuits that in recent years have resulted in record-breaking legal settlements. When coupled with the rising costs of hiring, training, and equipping personnel, many departments are seeking ways to modernize and streamline operations by eliminating fragmented systems, cumbersome paper processes and increasingly leveraging technology across the enterprise.
Moelis & Company was the exclusive financial advisor to Envisage on the transaction.
About Envisage Technologies
Envisage was founded in 2001 to automate complex training operations for first responders, law enforcement, and the military. We create solutions that make our world a safer place. Our mission is to improve the readiness of our nation’s public safety professionals to ensure they come home alive. Our customers include federal law enforcement agencies, military commands and many state and local law enforcement and public safety organizations. For more information, please see envisagenow.com.
About Norwest Venture Partners
Norwest Venture Partners is a leading growth equity and venture investment firm managing more than $9.5 billion in capital. Since our inception, we have invested in more than 600 companies. The firm invests in early to late stage companies across a wide range of sectors with a focus on consumer, enterprise, and healthcare. We offer a deep network of connections, operating experience, and a wide range of impactful services to help CEOs and founders advance on their journey. Norwest has offices in Palo Alto and San Francisco, with subsidiaries in India and Israel. For more information, please visit NVP.com. Follow Norwest on Twitter @NorwestVP.
About Armory Capital
Armory Capital is a family investment office funded with permanent capital. Armory has a legacy of more than 70 years of investing in private businesses. The firm makes growth equity and management-led buyout investments. For more information, please visit www.armorycap.com.