Feb. 16, 2021, 05:22 PM
ATLANTA, Feb. 16, 2021 /PRNewswire/ — Utility, Inc. announced record growth for fiscal year 2020 with contract bookings increasing more than 95% from the previous year. Revenue was up more than 20% from the previous year with recurring revenue growing 26% as the company continues to see increased adoption of its subscription services-based solution. The company’s growth can be attributed to an increase in demand for reliable, patented technology, which is what Utility, Inc. provides with its BodyWorn™ automatic video camera and ecosystem of hardware and software solutions for law enforcement, first responders, transportation agencies and utility providers.
“Our growth in 2020 reinforces our reputation as a trusted partner to agencies across the country, and we support them, not only with our current offerings, but also by listening to their feedback to develop innovative solutions that meet the future needs of law enforcement, first responders, transportation agencies and utility providers,” said Michael Nark, President and CEO of Utility, Inc. “Moving forward we will continue to innovate and support our partner agencies by bringing in new partners and providing communities with a reliable, trustworthy evidentiary management ecosystem.”
Additional 2020 highlights for Utility, Inc. include:
- New contracts with more than 50 agency partners, 15 of them exceeding $1M in value
- Achieved greater than 98% renewal rates with existing agency partners
- Backlog at record levels, up more than 110% over last year
- Added more than 10,000 new devices to the platform
- Actively managing more than 6,000 TB of evidence on the platform, including 3rd party content
- Surpassed more than 30,400 active users on the platform
In 2020, Utility, Inc. added contracts with more than 40 new city/state agencies and 11 new county law enforcement partners. With these new partnerships, more than 10,000 devices will be added to the over 30,000 connected devices already on the platform. These include BodyWorn cameras, RocketIoT® in-car video and communication systems. These devices can all be connected to the AVaiLWeb® cloud-based digital evidence management solution that securely stores captured evidence and offers SmartRedaction™ to protect the identities of those filmed as needed. AVaiLWeb is powered by Amazon Web Services (AWS), and Utility, Inc. received Public Safety & Disaster Response (PSDR) Competency status as an AWS technology partner in 2020.
One of the most utilized devices in the Utility, Inc. portfolio is the BodyWorn camera, which received a patent in 2020 for several features. The BodyWorn camera is designed to be embedded in law enforcement uniforms within a patented mounting system to prevent the devices from coming loose or falling off and utilizes artificial intelligence to create situational awareness for users, and it offers newly patented features, like a two-minute buffer that allows up to two minutes of video from before the camera is turned on to be saved in each recording as well as numerous automatic recording triggers designed to remove the burden of turning on the camera from the officer. Each of the triggers is policy-based to meet the specific needs of each agency partner. Additionally, a Smart Holster Sensor can be added to the BodyWorn camera to sense when a weapon has been drawn and trigger automated recording of the connected camera.
The Utility, Inc. ecosystem includes 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, Inc. and its technology solutions, please visit bodyworn.com.
Published here – Business Insider & PR Newswire