Month: May 2022

Evolv Technology Appoints New Chief Financial Officer

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Former CFO Transitioning to Pursue CEO Role –

– Company Welcomes Proven Finance Executive with Background in High-Growth SaaS, Cybersecurity and Networking –

– Mark Donohue to join from Vestmark, Rapid7, Cisco and Starent Networks –

Evolv Technology (NASDAQ: EVLV), a global leader in weapons detection security screening, today announced the appointment of Mr. Mark Donohue to the position of Chief Financial Officer, effective June 1, 2022.  Mr. Donohue will succeed Mr. Mario Ramos, who has accepted a role as CEO at a privately held financial services company.  Mr. Ramos will continue in his current role until May 31, 2022 to ensure a smooth transition.

Mr. Donohue will assume global responsibility for the Company’s accounting, finance, treasury, risk compliance, information technology, supply chain, manufacturing and investor relations functions.  Mr. Donohue joins Evolv Technology from Vestmark, a leading financial technology provider of SaaS-based portfolio management and trading tools, where he has served as Chief Financial Officer since 2018.  

“We’re excited to welcome Mark to the executive management team,” said Mr. Peter George, President and Chief Executive Officer of Evolv Technology. “Mark’s career has been shaped over 25 years of executive leadership at category leading technology companies across the SaaS, cybersecurity and networking markets.  We believe his experience and leadership will be particularly important as we prepare for the next stage of our growth.”

“I’m thrilled to be joining Evolv Technology, a leader in weapons detection security screening,” said Mr. Donohue. “Evolv provides industry-leading technology that is helping to solve the very important challenge of keeping the visiting public safe.  I look forward to joining the team as we work to extend Evolv’s leadership position in one of the fastest growing markets across the technology industry.”

Prior to joining Vestmark, Mr. Donohue served in several senior roles on the finance team of Rapid7,  (NASDAQ: RPD), a leading provider of security analytics and automation, including Vice President of Finance.  Before that, he spent seven years at Cisco (NASDAQ: CSCO), the worldwide leader in technology that powers the Internet, where he served as Senior Director, Strategy, Finance and Business Operations for the Mobility Business Group.  Previously he served as Director of Investor Relations and Assistant Treasurer for Starent Networks, Corp. (NASDAQ: STAR), a leading provider of infrastructure solutions that enable mobile operators to deliver multimedia services to their subscribers.  Earlier in his career, Mr. Donohue held various roles at IDC, Ferris Baker Watts, Teradyne and Quantum Corporation.  Mr. Donohue earned an MBA and MSF from Boston College and a Bachelor’s Degree from The University of New Hampshire.

“On behalf of the Board of Directors and the entire leadership team, I would like to thank Mario for the valuable contributions he has made since joining the team,” continued Mr. George. “During Mario’s tenure we made important progress in the areas of people, systems, controls and technology which positions us well in our growth plans as a public company.  We wish Mario well in his next chapter.”

About Evolv Technology

Evolv Technology (NASDAQ: EVLV) is a global leader in weapons detection security screening. Our mission is Evolv Technology (NASDAQ: EVLV) is a leader in weapons detection for security screening, securing the world’s most iconic venues and companies. Its mission is enabling a better experience and better security for venues, creating a safer world to work, learn, and play by transforming physical security to make everywhere safer. It gives sports fans, theme park visitors, concertgoers, shoppers, employees, students, and others peace of mind so that they can gather without fear of violence. Its security screening has scanned more than 250 million people, second only to the Department of Homeland Security’s Transportation Security Administration (TSA) in the United States, and its technology combines powerful, advanced sensors with proven artificial intelligence (AI), security ecosystem integrations, and comprehensive venue analytics to reliably detect threats 10 times faster than traditional metal detectors. Evolv Technology, Evolv Express®, Evolv Insights™, and Evolv Cortex AI™ are registered trademarks or trademarks of Evolv Technologies, Inc. in the United States and other jurisdictions. For more information, visit https://evolvtechnology.com.

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking” statements and information, within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events including but not limited to statements regarding our expectations regarding the executive management transition changes. Forward-looking statements involve the Company’s current expectations and projections relating to its financial condition, competitive position, future financial results, plans, objectives, and business. All statements other than statements of historical facts contained in this press release are forward-looking statements. In some cases, these forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “should,” “could,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or the negative of these terms or other similar expressions. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect the Company’s current views with respect to future events and the Company’s performance and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation expectations regarding the Company’s strategies and future financial performance, including its future business plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures; the Company’s history of losses and lack of profitability; the Company’s reliance on third party contract manufacturing; the rate of innovation required to maintain competitiveness in the markets in which the Company competes; the competitiveness of the market in which the Company competes; the ability for the Company to obtain, maintain, protect and enforce the Company’s intellectual property rights; the concentration of the Company’s revenues on a single solution; the Company’s ability to timely design, produce and launch its solutions, the Company’s ability to invest in growth initiatives and pursue acquisition opportunities; the limited liquidity and trading of the Company’s securities; geopolitical risk and changes in applicable laws or regulations; the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; operational risk; risk that the COVID-19 pandemic, including variants, vaccine roll-out efforts, and local, state, and federal responses to addressing the pandemic may have an adverse effect on the Company’s business operations, as well as the Company’s financial condition and results of operations; litigation and regulatory enforcement risks, including the diversion of management time and attention and the additional costs and demands on resources; and the risk factors set forth under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission on March 28, 2022. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

 

With Evolv Technology, Nasdaq MarketSite Experience for Clients and Guests Becomes More Efficient

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The guest experience at MarketSite is critical, but the safety and security of guests are just as vital. Managing these two often juxtaposed requirements is not an easy undertaking. Ken Kuhn, the head of Operational Security at Nasdaq knows this challenge well. “We have CEOs from some of the biggest companies in the world coming to MarketSite,” he notes. “It was not a good look to push them through the magnetometer and x-ray machine, followed by having them turn their pockets inside out and remove all of their items from their bags. We aspire to ensure that our guests’ first experience at a Nasdaq facility is a positive one.” Kuhn goes on to say “When the Evolv Express® system came out, it did exactly what we wanted” and through implementing the Express they were able to:

  • Create a great security ingress experience for employees, clients, and client guests
  • Eliminate security queues for entry into MarketSite
  • Avoid adding security staff while scaling the business

Read the case study to learn how you can start your journey to a more secure and guest-friendly security screening solution today.

Download NowLearn More

View more of our case studies on our resources page here.

Evolv Technology Hits All the Right Security Notes at Dollywood Theme Park

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Artificial Intelligence and sensor-based system has guests singing praises for easier and safer entry

Evolv Technology (NASDAQ: EVLV, “Evolv”), a leader in weapons detection security screening, today announced that Dollywood has selected Evolv Express®, its artificial intelligence (AI) based weapons detection system, to help guests safely enjoy the theme park.   

As part of its 37th season opening, Dollywood has been working with traffic engineers and security experts to expedite the way customers move through their parking lot, toll plaza, tram routes, and front gates.

With Evolv Express, guests arriving at the park don’t have to stop or remove items from their pockets or bags to enter the theme park. Evolv Express identifies weapons and other potential safety threats without compromising the guest experience. By using Evolv Express, Dollywood is able to streamline the islands of patrons entering and exiting the park, making it a much smoother and faster process.

“Today, proactively identifying and addressing security threats is more than a 9-5 job. It requires 24/7 attention on what’s physically happening in our park and what could happen in our IT infrastructure,” said Eugene Naughton, President of The Dollywood Company. “With Evolv Express, we believe  our patrons are safe as they breeze through the entrance. Additionally, using Evolv Insights™ complements our cybersecurity efforts by providing historical screening data to identify outliers and more effectively staff the park. With Evolv Express, Dollywood customers will have even more enjoyable experiences as lines are eliminated while security is enhanced.”

Dollywood is a highly awarded and widely recognized leader in the amusement industry, including being named one of the world’s top three theme parks. Each season, Dollywood welcomes more than three million people at its 160-acre theme park featuring more than 50 rides and attractions.

“As Dollywood prepares for the busy summer season and families and friends plan their vacations, they can rely on Evolv Express to quickly move foot traffic by screening 3600 people per hour and identifying weapons 10 times faster than metal detectors without compromising public safety,” said Peter George, CEO of Evolv Technology. “As more people get outside this summer, we’re proud of the work we’re doing for Dollywood and at theme parks across the country to help keep guests safe while playing an important behind-the-scenes role in helping them create fun memories.”

About Dollywood

Winner of the 2010 Applause Award, Dollywood consistently is recognized as one of the world’s best theme parks. Spanning 160 acres in the foothills of the Great Smoky Mountains, Dollywood offers more than 50 rides and attractions, including Lightning Rod, the Thunderhead wood coaster, the steel thriller Mystery Mine, the forward and backward launch Fire Chaser Express, and Wild Eagle, the country’s first wing coaster. Dollywood’s entertainment is recognized worldwide, having received more awards than any other theme park for its live entertainment, which showcases country, bluegrass, Southern gospel, classic rock ‘n’ roll and Appalachian music. Dollywood recently was ranked the #8 theme park in the world and the #6 theme park in the U.S. based on traveler reviews by TripAdvisor users. Daily demonstrations by more than a dozen master craftsmen offer a glimpse into the authentic artistry of the area’s rich heritage. In addition to mouth-watering, Southern-style food offered throughout the park, Dollywood hosts several of the South’s largest festivals with special performing groups and concerts. The park operates mid-March to January. More information is available at Dollywood.com.

About Evolv Technology

Evolv Technology (NASDAQ: EVLV) is a leader in weapons detection for security screening, securing the world’s most iconic venues and companies. Its mission is enabling a better experience and better security for venues, creating a safer world to work, learn, and play by transforming physical security to make everywhere safer. It gives sports fans, theme park visitors, concertgoers, shoppers, employees, students, and others peace of mind so that they can gather without fear of violence. Its security screening has scanned more than 250 million people, second only to the Department of Homeland Security’s Transportation Security Administration (TSA) in the United States, and its technology combines powerful, advanced sensors with proven artificial intelligence (AI), security ecosystem integrations, and comprehensive venue analytics to reliably detect threats 10 times faster than traditional metal detectors.

Evolv Technology, Evolv Express®, Evolv Insights™, and Evolv Cortex AI™ are registered trademarks or trademarks of Evolv Technologies, Inc. in the United States and other jurisdictions.

For more information, visit https://evolvtechnology.com.

Forward-looking Statements  

Certain statements in this press release may constitute “forward-looking” statements and information, within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events. In some cases, these forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events or our Company’s performance and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the risk factors set forth in our proxy statement/prospectus, filed with the Securities and Exchange Commission (the “SEC”) on June 28, 2021, and other documents filed with or furnished to the SEC, including our Annual Report on Form 10-K for the year ended on December 31, 2021, that was filed with the SEC on March 28, 2022. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. 

How A Mom’s Campaign for Better Venue Security May Impact 650,000 UK Businesses This Year 

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Martyn’s Law Defined

Two years ago, at a national security conference in the UK, I sought out a presentation by Figen Murray. Figen is the mom of Martyn Hett, one of 22 victims killed in the horrific 2017 Manchester Arena bombing. Her loss is unimaginable. She remains a mom to four kids and has not stopped fighting for the kind of change that creates good out of the evil that happened that day.

I knew a little about Figen’s story and Martyn’s Law, the legislation in her son’s name. She and Nick Aldworth, a former UK counter terrorism government official, stepped us through how the breakdown in arena security and emergency response that day inspired them to pursue new venue security legislation called Protect Duty, or Martyn’s Law.

Figen’s tenacity to turn her grief into action remains a powerful witness and unparalleled display of human spirit. She inspired me that day and still does. In fact, just five years since losing her 29-year-old son, Figen received her master’s degree in terrorism and counterterrorism (CT) from the University of Central Lancashire last year.

In 2013, as many of you know, my wife narrowly escaped the bombing at the finish line of the Boston marathon, and I lost good friends in the Towers on 9/11. For me, those two pivotal events inspired the launch of Evolv. Figen and I share a similar heartfelt and focused mission to do the work we do.

What is Martyn’s Law and when does it go into effect?

In the simplest terms, Martyn’s Law is legislation that aims to create a coherent and proportionate approach to protective security. The proportionate part is very important because not all sites and venues are the same, so a blanket approach would be counterproductive. In 2017, at the time of the attack, there was no legislative requirement for UK organizations or venues to consider security measures at the vast majority of public places.

On January 11, 2022, on the heels of an 18-week consultation, Home Secretary Priti Patel officially agreed to bring forward legislation to the UK parliament requiring venues to put in place security measures to protect the public from terror attacks. Full details are expected to be laid out in a written ministerial statement, at the earliest possibility. The Home Office is also helping to develop a new interactive online platform, which is due to launch this year, aimed at providing advice for organizations on counterterrorism.

Who does Martyn’s Law apply to?

The proposed legislation is designed to apply to any place or space the public has access to—an estimated 650,000 diverse sites and venues across the UK, from small cafes and pubs to large arenas.

What is covered in Martyn’s Law and what does this mean for businesses in 2022?

The Law includes five key requirements for any publicly accessible location:

  • A requirement that spaces and places to which the public have access engage with freely available counterterrorism (CT) advice and training.
  • A requirement for those places to conduct vulnerability assessments of their operating places and spaces.
  • A requirement for those places to have a mitigation plan for the risks created by the vulnerabilities.
  • A requirement for those places to have a counter-terrorism plan.
  • A requirement for local authorities to plan for the threat of terrorism.

Advice from a UK counter-terrorism expert

It is understandable that businesses in the UK are wondering what the next best steps are and how to prepare for this legislation to go into effect. I asked Nick Aldworth to share his insights at this stage. Nick’s 36-year career included positions in policing and the military. He then became Detective Chief Superintendent in Counter Terrorism Policing where he held the role of National Coordinator (Protect and Prepare). Nick led the operational protective security responses to the London 2017 terrorist attacks and, prior to that, was the Chief Inspector of policing and security operations at the UK Parliament.

There are 650,000 businesses in the UK that may need to take some kind of action this year to map to Martyn’s Law. If the security measures they take are meant to be “proportionate”, what are these businesses expected to do and how quickly are they expected to do it?

Answer: Usually when novel-issue legislation is passed in the UK, the government will provide public awareness campaigns for some considerable time before they start to enforce the law. I expect that will happen in this case as businesses will understandably have to adapt to a new normal. Importantly, the idea of legal proportionality will only be defined over time, as cases are heard in court and precedents are set. However, as your readers will know, there are a range of options in any security solution. At the top end, there are solutions like the Evolv system, that provide effective screening in high-footfall situations. In less intense environments, the proportionate approach might include manual searching, or simply observant staff looking for suspicious behavior.

Where can businesses go to get relevant and current information about how they can implement Martyn’s law?

Answer: The UK is blessed with a government that provides authoritative information about how to reduce risk. The Centre for Protection of National Infrastructure, a government body, maintains a catalogue of tested and approved technical systems for businesses that want to follow the technical path. The police’s National CT Security Office provides advice on a range of issues from how to protect crowded places to how citizens can apply emergency first aid in terrorist situations. In the next few weeks, all this information will be brought into a single place, under the banner of Protect UK. This will be a digital platform that not only provides all the guidance in one place, but it also allows for the creation of credible communities that can exchange information.

If businesses want to start proactively responding in a phased approach to Martyn’s Law, how would a small pub, medium sized museum, and large event venue (for example) do this? What might be the priority measures for each?

Answer: For me, it’s always about getting your people engaged with counter terrorism first. When people are observant and engaged, they can disrupt a possible hostile incident or reduce the impact of an attack. In the UK, we run a program called See, Check and Notify (SCaN) that aims to help people understand how every employee can contribute to keeping their environments safe, while enhancing customer service. After people, it’s all about understanding your vulnerabilities and having a plan to deal with problems when they arise.

In your conversations with venue operators, how do you talk about the value to them? How does implementing better venue security and being in compliance with Martyn’s Law benefit them and their business?

Answer: This is a great question. Notwithstanding the imminent legal imperative (that already exists within public-liability laws), we talk about the moral imperative. We especially talk about the changing nature of terrorism that has led to anything being used as a weapon, against anybody, and anywhere. We discuss how the only way to combat such a potential proliferation of terrorism is by a whole-of-society approach. The last thing I always remind businesses is that good security is good CT security and both are good for business. At times of anxiety, customers want to feel safe and secure. They will stay in your venues longer and spend more money if they feel comfortable.

Why is Martyn’s Law, and the eventual compliance measures adopted by businesses, a good thing for the general public?

Answer: None of us want to live behind gates and walls; and we all want to enjoy our lives to the full. Proportionate security actually helps keep our societies free.

Conclusion

It is powerful how loss and tragedy can drive such remarkable and inspiring change for good. Figen is a hero for choosing the road less traveled. She has taken her grief and channeled it into action that will save lives in the UK.

Nick Aldworth has it right; none of us want to live behind walls and gates. We want to live freely and move freely. When the UK more formally adopts Martyn’s Law, these new security measures will make this possible, honoring Martyn Hett and the 21 others lost that day.