About Evolv Technology
Evolv Technology is a company based in Waltham (United States) founded in 2013 by Michael Ellenbogen and Anil Chitkara. It operates as a SaaS (Software-as-a-Service), and Subscription Services. Evolv Technology has raised $109.61 million across 12 funding rounds from investors including SVB, Jeb Bush and Stanley Ventures. The company has 287 employees as of December 31, 2024. Evolv Technology offers products and services including Evolv Express®, Evolv eXpedite™, and Evolv Insights®. Evolv Technology operates in a competitive market with competitors including Viken Detection, Detection Technology, Safeview, Rapiscan Systems and Access-IS, among others.
- Headquarter Waltham, United States
- Employees 287 as on 31 Dec, 2024
- Founders Michael Ellenbogen, Anil Chitkara
- Stage Public
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Sectors
Industrial Goods & Manufacturing
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Evolv Technologies Holdings, Inc.
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Annual Revenue
$103.86 M30.54as on Dec 31, 2024
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Net Profit
$-54.02 M50.01as on Dec 31, 2024
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EBITDA
$-64.71 M19.15as on Dec 31, 2024
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Total Equity Funding
$109.61 M (USD)
in 12 rounds
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Latest Funding Round
$5.66 M (USD), Post-IPO
Aug 04, 2025
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Investors
SVB
& 11 more
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Employee Count
287
as on Dec 31, 2024
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IPO & Listings of Evolv Technology
Evolv Technology is a publicly listed company on the NASDAQ with ticker symbol EVLV in USA, operating in the Electronic technology sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of Evolv Technology
Evolv Technology offers a comprehensive portfolio of products and services, including Evolv Express®, Evolv eXpedite™, and Evolv Insights®. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Concealed weapons are detected as people walk through.
Autonomous bag screening is provided during walk-through process.
Dashboards and reports are provided for operational efficiency.
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Funding Insights of Evolv Technology
Evolv Technology has successfully raised a total of $109.61M across 12 strategic funding rounds. The most recent funding activity was a Post-IPO round of $5.66 million completed in August 2025. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 12
- Last Round Post-IPO — $5.7M
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First Round
First Round
(02 Oct 2013)
- Investors Count 12
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2025 | Amount | Post-IPO - Evolv Technology | Valuation |
investors |
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| Dec, 2022 | Amount | Debt – Venture - Evolv Technology | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Evolv Technology | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Evolv Technology
Evolv Technology has secured backing from 12 investors, including institutional, angel, and venture fund investors. Prominent investors backing the company include SVB, Jeb Bush and Stanley Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Strategic investments are made in innovative startups by Stanley Ventures.
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Founded Year | Domain | Location | |
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Venture capital firm focused on multiple sectors
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Founded Year | Domain | Location | |
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Investment and transformation services for entrepreneurs in technology and finance sectors.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Evolv Technology
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Evolv Technology
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Evolv Technology Comparisons
Competitors of Evolv Technology
Evolv Technology operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Viken Detection, Detection Technology, Safeview, Rapiscan Systems and Access-IS, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Vehicle forensic solutions are provided for public safety management.
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| domain | founded_year | HQ Location |
X-ray imaging subsystems and components are supplied for security applications.
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| domain | founded_year | HQ Location |
Holographic imaging technology is manufactured for security screening applications.
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| domain | founded_year | HQ Location |
Manufcaturer of scanner systems
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| domain | founded_year | HQ Location |
Provider of security screening systems
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| domain | founded_year | HQ Location |
Non-intrusive security screening solutions for public venues are developed.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Evolv Technology
Frequently Asked Questions about Evolv Technology
When was Evolv Technology founded?
Evolv Technology was founded in 2013.
Where is Evolv Technology located?
Evolv Technology is headquartered in Waltham, United States. It is registered at Waltham, Massachusetts, United States.
Is Evolv Technology a funded company?
Evolv Technology is a funded company, having raised a total of $109.61M across 12 funding rounds to date. The company's 1st funding round was a Post-IPO of $14.53M, raised on Oct 02, 2013.
How many employees does Evolv Technology have?
As of Dec 31, 2024, the latest employee count at Evolv Technology is 287.
What is the annual revenue of Evolv Technology?
Annual revenue of Evolv Technology is $103.86M as on Dec 31, 2024.
What does Evolv Technology do?
Evolv Technology is focused on creating safer experiences through advanced security detection systems. AI-driven solutions are developed to detect concealed weapons and enhance security across various sectors including healthcare, education, entertainment, and corporate environments. Products like Evolv Express and Evolv eXpedite are designed for high-throughput screening of people and bags. Analytics through Evolv Insights are offered to improve operational efficiency. Integration capabilities with other security systems are provided via an Open API to ensure comprehensive situational awareness and rapid response to threats.
Who are the top competitors of Evolv Technology?
Evolv Technology's top competitors include Viken Detection, Detection Technology and Qylur.
What products or services does Evolv Technology offer?
Evolv Technology offers Evolv Express®, Evolv eXpedite™, and Evolv Insights®.
Is Evolv Technology publicly traded?
Yes, Evolv Technology is publicly traded on NASDAQ under the ticker symbol EVLV.
Who are Evolv Technology's investors?
Evolv Technology has 12 investors. Key investors include SVB, Jeb Bush, Stanley Ventures, Bill Gates, and DCVC.
What is Evolv Technology's ticker symbol?
The ticker symbol of Evolv Technology is EVLV on NASDAQ.