Bounce is staring down a “multi-billion dollar” market opportunity across defense, law enforcement and search-rescue
Bounce Imaging has spent more than a decade developing technology — and relationships — for some of the world’s most demanding customers.
Now geopolitical factors are driving a huge surge in demand for products that can make people safer in dangerous situations.
And the Buffalo-based company, which develops rugged, throwable 360–degree camera systems, is ready for its moment.
Bounce Imaging crested $10 million in revenue last year while remaining profitable, and is finishing off a $5 million growth round to prepare its products for scaled manufacturing and rollout.
This will allow Bounce to pursue what executives are describing as a multibillion-dollar market opportunity across defense, law enforcement and emergency response.
“Governments across the world are investing heavily into defense, and we have developed strong relationships that set us up for pretty explosive growth,” said Lauren Baynes, Bounce Imaging chief growth officer. “They see our technology as unique and effective.”
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The round includes New York Angels, existing investors such as Good Growth Cpaital and DC Investment Partners, and a new Western New York-focused firm: Brown & White Ventures (check back to Series B tomorrow for a Q&A with Brown & White cofounder Jim Aroune.
Founded by CEO Francesco Aguilar, Bounce Imaging moved to Buffalo in 2016 after earning an investment from 43North. The company currently has 8 local employees working out of 3,500 square feet of office, R&D and manufacturing space, and conversations are ongoing about a potential expansion of its Buffalo plant.
But for now, the focus is on executing the opportunities at hand. Bounce technology is used by more than 800 agencies worldwide, and Bounce is currently part of a U.S. Special Operations Command Program of Record—an important validation of both the technology and its operational value.
The company’s products are used in nearly every FBI field office and by the U.S. Marshals Service, New York State Police, NYPD, the UK Ministry of Defence, and other elite military and public-safety units worldwide.
Locally Bounce is used extensively by the Erie County Sheriffs, the Buffalo Police Department and several smaller agencies in the surrounding towns and counties.
The opportunity ahead is substantial. One example is the military of a European country, which is considering a large three-year contract with Bounce Imaging that would outfit its entire army with throwable camera systems.
“These deals are working their way through the approval process, which is a very exciting moment for the company,” Baynes said. “But when they come, we need to be ready.”
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