Tag: Large Event

Performing Arts Center Turns to Evolv Technology to Improve Customer Experience While Enhancing Security

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A well-known performing arts center on the east coast of the United States that hosts nearly 100 events each year, with capacity for approximately 2,700 guests, turned to Evolv Express® touchless security screening. As a result of deploying Evolv, the organization:  

  • Processed more guests, faster – scanning more than 9,000 people in the first month alone 
  • Virtually eliminated long security queues during pre-event “rush” periods to improve guest experience 
  • Improved the venue’s ability to detect weapons and other threats, finding more than 100 weapons 
  • Scaled the existing security team without hiring additional staff  

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

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As Gun Violence Rises, Evolv Technology Improves Prevention by 50%

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Evolv Express 3.0 Disrupts Security Market Again with Enhanced Threat Detection

WALTHAM, Mass. – (Aug. 12, 2021) – Evolv Technology (NASDAQ: EVLV), the global leader in weapons detection security screening, today announced further advancements to its award-winning Evolv Express® security system. With 2021 on pace to be the most violent year in the country in two decades[1], visitors require better security. At the same time, security professionals and the venues they keep safe are under more and more pressure to find solutions that adequately address the problem. The industry-leading Evolv Express weapons detection screening system does not compromise the security of those visitors to improve their overall experience. Evolv Express 3.0 gives venues both better weapons detection for their security teams and a better experience for their guests.

Venues have a duty to ensure their visitors are safe, both while waiting to enter, and while inside the venue. We believe security is integral to visitors’ peace of mind, but twentieth-century metal detector technology complicates that experience for both visitors and security staff. Clogged security checkpoints create a threat to crowds outside of venues, while invasive wand and bag searches are no longer tolerated in the pandemic era. Managing the sheer volume of alerts from metal detectors often forces security and venue operations personnel to make the tough – and unsafe – choice between thoroughness and speed. Evolv Express aims to eliminate that trade-off by continuously improving the detection of threats, pinpointing where they are, and allowing security guards to focus on only the real threats.

Evolv Express leverages Evolv Cortex AI™, its artificial intelligence (AI) weapons detection algorithms to instantly detect and identify a person carrying a weapon without slowing the flow of visitors carrying their personal items, improving security at the speed and scale required to stay ahead of today’s threats. This innovative technology reduces unsafe crowding, lowers the risk for human error, and removes the tradeoff between keeping a venue safe and providing a good experience for visitors.

“As organizations around the world begin welcoming back visitors and employees, the era of metal detectors as a screening solution is no longer remotely adequate. Cultural and entertainment venues, as well as workplace enterprises, require a touchless security experience, without long wait lines or crowded conditions that create a health and safety risk,” said Peter George, CEO, Evolv. “Evolv delivers security built for the 21st century and we believe that the new enhancements to our system give visitors, security personnel, and business leaders peace of mind as they continue to address an alarming rise in violence as well as deal with the continuing health risks of COVID.” 

The enhancements announced today advance venue security and visitor experience in two distinct ways:

  • Improvements to Best-In-Class Weapons Detection:  Evolv’s best-in-class automated threat detection algorithms further reduce alarm rates, improving the system’s ability to reliably pinpoint and stop real threats. Visitor metrics and alarm rates, including historical rates at all levels of sensitivity help security professionals determine the most optimal flow of visitors, without compromising their security.
  • Extended Security Ecosystem Integrations: A new, one-tap “Request Assistance” feature instantly sends an SMS text and/or email to specified security staff members so teams can more urgently resolve situations where additional staff support is needed to address crowding, health issues, staff constraints, or escalated threat situations. Administrators can quickly and easily configure which personnel receives the request directly from the MyEvolv Portal.

For more information about Evolv Express, or to see a demo, visit our website.

About Evolv Technology

Evolv Technology (NASDAQ: EVLV) is a leader in SaaS-based weapons detection for security screening, securing the world’s most iconic venues and companies. Our mission is to enable 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. We give sports fans, theme park visitors, concertgoers, shoppers, employees, students, and others peace of mind so that they can gather without fear of violence.  Our security screening has scanned more than 60 million people, second only to the Department of Homeland Security’s Transportation Security Administration(TSA) in the United States, and our 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. All statements other than statements of historical facts contained in this press release, including statements regarding the potential of the Evolv Express® security system are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the 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 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 under the caption “Risk Factors” in our proxy statement/prospectus, filed with the Securities and Exchange Commission (the “SEC”) on June 28, 2021, as updated by the risk factors disclosed in the section titled “Risk Factors” in our Form 8-K, filed with the SEC on July 22, 2021, and in our other documents filed with or furnished to the SEC. 

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.

 

Contacts

Media Contact:

Fitzgerald Barth

fbarth@evolvtechnology.com

 

Investor Contact:
Brian Norris
bnorris@evolvtechnology.com

 

How Evolv Express 3.0 Is Transforming Venue Security

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As the world reopens, physical security is top of mind for venue leadership and visitors alike. Venue security relies on a combination of people, processes, and technologies to prevent harmful weapons from entering. Different venues take different approaches to creating, maintaining, and improving security screening based on the unique needs of the organization and its visitors.  

But every venue has a common challenge: ensure a welcoming guest experience while preventing potential weapons threats from entering. To help address this need in the many ways venues implement security, Evolv recently launched its latest software update for Evolv Express®, Version 3.0. This version introduces new capabilities to advance threat detection, enhance existing venue security response time and protocols with integrated communications, and improve usability and mobility with an intuitive user experience and a wireless tablet option.  

Changing the Status Quo 

Balancing guest experience with the mandate to keep everyone safe is critical when making decisions about security personnel, processes, and technologies. While metal detectors are extremely good at alarming on any object that could be a threat, their user experience is less than ideal. They require people to separate from their bags and personal items, which result in repeat scans, and creates long lines. And in this post-pandemic era, requiring guards to handle personal items, or even wand and pat-down guests, can result in potentially unsafe personal contact. Certainly not the personal experience we all seek. 

In short, manually assessing everyone entering a venue is a burden on everyone involved, aggravating the very people that venues are trying to welcome in. Worse still, it creates new threats. Beyond just the health concerns of crowded lines and close personal contact, guards can become fatigued with manual checks due to so many false-positive alarms, putting them at higher risk of letting potential threats through. And long, tedious lines in unsecured areas create crowds that could become a soft target themselves: exacerbating the very threat conditions that venues are trying to avoid.  

Better Detection Improves Safety 

Balancing venue security with guest experience should never be a compromise. Evolv Express accelerates the way guests move through security checkpoints by leveraging advanced sensors, artificial intelligence (AI) algorithms, and camera technology to detect and visually pinpoint a potential weapon on a person’s body or baggage. It allows visitors to flow seamlessly into a venue at a normal walking pace while focusing guards’ efforts on quickly and efficiently resolving potential threats.  

The Evolv Express technology continuously improves with new releases, and the 3.0 release introduces yet another update to the detection algorithm. This update helps to refine false positive rates (“nuisance alarms”) without compromising the system’s ability to detect even the smallest weapons. 

Security Ecosystem Integrations Shorten Response Time 

Evolv Express is designed to integrate seamlessly with other venue technologies to ensure security teams are supported in their work using processes and protocols already in place. Unlike analog machines and manual methods, Evolv Express is designed to extend a venue’s security eyes and ears to the entryways with features like front-and-rear-facing cameras with available integrations into an existing Security Operations Center (SOC) or Video Management System (VMS).  

To these existing integration capabilities, Evolv Express Version 3.0 adds the newly-released “Request Assistance” feature. When a guard at an Evolv Express system needs to reach out across the existing extended security ecosystem—whether it’s for help from other team members, supervisors, or adjacent teams like law enforcement—Request Assistance adds a one-touch feature on the Evolv Express tablet that leverages your existing security processes and systems to send communications discreetly and instantaneously via SMS text or email. It automatically includes the location of the system requesting assistance, along with the option for a customized message from the team member in need.  

Request Assistance is easily configured in the MyEvolv portal by a system administrator to ensure that personnel staffing critical positions at a venue will be able to leverage existing security protocols for critical communications to get the help they need and better secure entryways, and guests, quickly.  

Usability Accelerates Threat Resolution 

Each Evolv Express tablet provides a targeted search capability when a potential threat is detected via an indicator on an image of the alerting individual, which shows the location of the threat from different vantage points and allows for the detection of multiple threats on the person or their baggage as they walk through the system. This visual alert only targets individuals with potential threats on their person—not everybody walking through—to streamline the work of your security personnel, allowing them to focus their efforts only on addressing and resolving potential threats.  

Visual alerts are delivered via a tablet user experience, and Evolv Express 3.0 introduces wireless tablets to add new options for system setup and ease of deployment. Wireless tablets create easier set-up and tear-down, increasing system mobility while improving the visual profile of the entryway. They also add new options for the physical configuration of systems, with easy ways to pair additional tablets when needed as visitor flow rates increase. Plus, an updated user experience on wired and wireless tablets for Evolv Express 3.0 modernizes the look-and-feel of the interface.  

Advancing Security with Each New Release 

In addition to continual improvements to threat detection, new integrations with adjacent security technologies, and an enhanced user experience, Evolv Express includes access to the web-based MyEvolv portal and Evolv Insights™ analytics. Insights automatically collects and surfaces metrics related to visitor arrival curves and alarm rates by location, date, and time all in one unified dashboard. By leveraging analytics to improve planning—along with new advancements in threat detection, integrated communications, and usability in Evolv Express 3.0— venues can transform the way they protect visitors from potential security threats.

The Exhilarating Mission of Customer Success

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When I joined Evolv a few months ago, I was immediately struck by how absolutely customer-centric the company is. Evolv has served its customers obsessively, which, in my experience, is what successful companies do, especially when they’re in start-up mode since every new customer becomes a potential reference to help land the next one. Now, as the company scales, we must focus on retaining that same level of intimacy and service that has become a very important differentiator for us.  

How will we do it?  Well, for starters, we’re building a new team of customer success managers who will work proactively and in partnership with our customers to ensure their success. It starts when we install the Evolv Express®, getting them onboarded, trained, leveraging all product capabilities, and guiding them through new releases or adjacent features as we continue to set a new standard in weapons detection screening. Our team is responsible for making sure customers are aware of what our systems can do and how they can best take advantage of them at their own venues.  

Another key priority for the Customer Success team is to formalize our “Voice of Customer” program. We’ll be regularly interviewing customers to solicit deep qualitative feedback on a number of topic/relationship areas to drive continuous improvement across Evolv. Customer feedback will inform product innovation, new solutions, relationship management and more. 

Now that I’ve settled into the job, I can tell you without hesitation that Evolv’s mission is my mission too—to transform security to enhance everyone’s life. There is something energizing in knowing that when I get up and go to work every day I, my team, and everyone at Evolv are truly helping to keep people safe. I’ve been fortunate to visit several customer sites already and have been inspired seeing Evolv Express “in action”: 

  • Going to a theme park or amusement park and seeing the smiles on kids’ faces and families going in and being confident that they are going to have a safer experience because of our product. 
  • Hearing firsthand from security guards about how Evolv Express makes their jobs easier, eliminating the need to physically handle bag after bag while delaying patrons from getting into their facility. 
  • Walking into a museum or venue with a high level of aesthetic beauty and realizing that our unobtrusive system at the entrance does not detract from that visitor’s first impression. 
  • Meeting the individual sponsors and champions across the Evolv customer base who chose Evolv because they have devoted their lives to safety and being awed by the passion and commitment they bring to their work. 
  • Feeling really proud seeing our system at NASDAQ, keeping employees and visitors like Evolv safe when we officially listed as “EVLV” on July 19th 2021. 

Throughout my career, I’ve always taken pride in customer engagement. I love being with customers, seeing and hearing directly how we are, and can, deliver value. I also love the behind-the-scenes work in building a strong operational framework of people, process, and technology to support our customers and their security and visitor experience objectives. Evolv has, and will, take an “outside-in” approach to fulfilling our mission.  

A sense of shared purpose is palpable throughout the company. Before I was hired, I was fortunate to spend time with our CEO Peter George and our founders, Anil Chitkara and Mike Ellenbogen. They are inspirational in their authenticity and long-term, baked-in desire to get this right. It makes you want to get up and go to work every day. It’s particularly exhilarating to realize that we are still near the beginning of fulfilling our mission of making the world safer, one customer at a time.  

Setting a New Standard For Safety, Security and User Experience

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Would you rely on a standard developed in the 1970s for gas-powered cars as the basis for operating a modern electric car? How about a 1970s standard for land lines to manage your smart phone? Seems pretty ridiculous to rely on decades-old standards to define, inform and keep up with today’s pace of innovation and the varied ways technology has shaped lives over the past 10 years, let alone the past 50. 

Yet, when it comes to our safety when we gather in groups in public places, the only “standards” our industry has available to measure the effectiveness of our security technology was developed in the 1970s for uses that just don’t apply in today’s world and for today’s threats. Not only that but these standards are also based on old analog technology—walk through metal detectors—that are even older than the standards themselves and are incapable of meeting today’s needs for modern weapons detection.  

So, you see why I put the word “standards” in quotation marks. In reality, there has never been a security and safety standard that was designed specifically to meet the needs of today’s modern venue—able to specifically and accurately detect weapons while delivering a free-flow, touchless and friction-free experience to visitors, employees, and other patrons. There weren’t many 80,000 seat stadiums in the early 1900s when metal detectors were first deployed. For decades, security professionals have been hindered by static, outdated technology as they try to react to a new threat environment in today’s dynamic world. 

Until now, of course.   

Today’s standard for physical safety and security must address an era in which soft targets, weapons proliferation, and a global pandemic have dramatically and permanently changed the security landscape. A modern solution must detect weapons, not just metal. It must go beyond security—meeting the concerns and expectations of visitors for a touchless, seamless experience, whether attending a sporting event, concert, mall, school, workplace, or any other places where people gather. 

Eight years ago, when we started Evolv, it was clear that the tools organizations were using for security and safety at their points of entry were obsolete at best, and dangerous at worst. Metal detectors were originally designed primarily for applications such as courts and prisons to prevent a small number of visitors from walking in with small contraband, such as razors or pocketknives.   

The standards developed in the 1970s were based on this old technology and established by the National Institute of Justice for courts and jails, and then adapted by the US FAA, Transportation Security Administration, and other regulators for aviation security. There were no cell phones in the ’70s, no proliferation of assault weapons, no steady drumbeat of gun-related violence.  

Relying on those standards and that technology just doesn’t meet today’s security needs. It forces people to queue in long lines, which creates another potential target for attackers. It forces them to hand their personal belongings to strangers, which is anathema to a safe and pleasant experience with COVID now a daily part of our lives. Worse, the standards are designed to detect metal, not weapons, which requires everyone to dump their pockets and virtually every bag to be searched. Because they weren’t willing to create a line around the block, many organizations avoided using metal detectors and just relied on a visible guard presence, handbag checks by security personnel or, often, no security at all.  

A new standard for detecting weapons at modern venues is needed and was one of the reasons we started Evolv. As I say perhaps far too often, some things have to be believed in order to be seen. We believed we could build a new system that could discriminate weapons from the innocuous everyday objects we all carry while allowing the free flow of people. We could see a new standard because we believed it could be built and, in fact, we could be the ones to build it. 

Evolv Express® is the culmination of years of hard work to develop what I consider to be “wicked smaht” (pronounced in a Boston accent) software, leveraging technology advances that would have seemed like science fiction back in the 1970s. These include advanced video analytics, machine learning, artificial intelligence, sensors, and more.  

It has taken us the better part of six years to perfect the technology. With the help of our early customers and our talented team, the Express is the product that fulfills the original vision we had for Evolv. Our system sets a new standard for physical security because it delivers what venues need, now and into the future, including: 

  • Digital technology hardware and software systems that replace obsolete metal detectors with modern weapons detectors. 
  • Free-flow, frictionless screening, with a touch-free experience for patrons in a post-COVID environment. 
  • Simplified deployment, management, upgrades, and operations. 
  • The opportunity for organizations and security leaders to improve security, increase safety, deliver a great user experience and significantly reduce security costs—all at the same time.  

The world is a very different place than it was in the 1970s when the existing “standards” for physical security were adopted. A new standard is needed to adapt to this new world and the current threat environment. We believe the Evolv Express is the next industry standard. Why? Because it fulfills our core mission of making the world safer.  

The Road to Now

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One of the best aspects of being part of the Evolv leadership team is the chance to work closely with our founders, Mike Ellenbogen and Anil Chitkara. In light of our recent listing on the NASDAQ exchange, I felt it’s an appropriate moment to sit down with Mike and Anil to get their perspective on their road to now.  

Dana: Why did you start Evolv back in 2013? 

Mike: Evolv is my third startup in the physical security space, so I am deeply aware of the challenges and technical limitations associated with preventing active shooter and terrorist attacks. Many of our original Evolv team members have been together now through three startups in physical security. The 2012 Sandy Hook school shooting and the 2013 Boston marathon bombing directly affected people close to both Anil and me. Those events really crystalized for us that the world needs a fundamentally better way to prevent these types of attacks, and that there was currently no good solution. We looked at the situation and said, “We know how to solve these types of problems and we’re in a unique position to make a real impact. If not us, then who?” It just felt like it was time to get the band back together.  

Anil: It’s personal to me. I have been close — painfully close — to multiple terrorist events, and I decided that I needed to turn my energy to making the world safer from future attacks. My close friend and college roommate, Steve, was on the 101st floor of the North Tower on 9/11. He had just gotten married and had a son. Twelve years later I was on Arlington Street in Boston with my three young children waiting for my wife to cross the finish line of the 117th Boston Marathon. She finished, we drove home and found out that 45 minutes after we left that the first explosive device had detonated. A close friend wasn’t as lucky. He was seriously injured and still has shrapnel in his neck. So, as Mike said, we started Evolv to stop these types of senseless acts. We saw that they were happening in more types of locations in more towns and cities, harming more and more people. We just knew there had to be a better way to prevent them from happening.  

Dana: What problem did you set out solve? 

Mike: There are plenty of technologies that help minimize the response time after an event has already started: video analytics, gunshot detection, etc. But this after-the-fact type of solution doesn’t address the real problem. The world needs a way to prevent the bullets from flying in the first place. At the time, the only available solutions to try to stop attacks like the Boston Marathon bombing were old school metal detectors. This technology is over 100 years old and was never designed for today’s visitors and spectators, with all of the items we normally carry — like smart phones and tablets — or for today’s venues. If you’ve ever stood frustrated in a security line, cursing the slow security screening process, you understand the problem. We saw the need for a frictionless process that can identify threats without slowing down visitor flow, ideally without even breaking stride. Our goal was to help any venue, with or without government mandates, to create a safer environment for their visitors without negatively affecting the visitor experience. 

Anil: Old metal detectors and manual security checks were widely used after 9/11. These approaches treated everyone as a threat, forcing them to stop, empty their pockets and bags, and submit to a search. We wanted to pivot the paradigm. The vast majority of people are not a threat – so why not let them pass through without ever stopping and only stop those few who need a closer look? Why can’t most people be screened as they walk through at the normal pace of life without ever stopping? That’s what we wanted to deliver. 

Dana: Why did you think you were the right people to solve it? 

Mike: This isn’t a problem space that you just decide to get into and a couple of weeks later you fully understand it. A couple of kids in a dorm room aren’t going to figure it out. The physics is very, very challenging. The math is hard. There are all kinds of subtle environmental issues that cause huge problems in the real world but don’t exist in the lab. We have a unique team of very talented people with the depth of experience to anticipate many problems and the context to cleverly solve new problems as they come up. We’ve also been able to leverage the latest advances in sensors and machine learning that hadn’t been available or applied to this problem space before. Our prior success in this market also gave us excellent access to capital from really smart, deeply connected? committed? investors. Even with all these advantages, we had to work the problem really hard from many angles for a long time, but in the end, we cracked it. 

Anil: Building on what Mike said, we really benefited from having a multidisciplinary technical team with an intimate understanding of different venues and their operational requirements. I don’t know of any team that has collectively spent more time on the front lines, shoulder-to-shoulder with security professionals as they conduct screening operations. We knew the challenges the staff were struggling with, and we knew what they wanted and needed. There are just as many subtle process issues as subtle technical issues of the kind Mike mentioned. We combined our knowledge of all these issues with our background in user experience design to solve for both the visitors being screened and the security staff operating the system. We’ve got hundreds and hundreds of lessons from operating in so many different environments in the real world.  And we continue to incorporate these experiences into our product and our team’s approach with our customers. 

Dana: Why wasn’t it solved before? 

Mike: Most companies in our space wait for a clear market with a well-defined specification, usually from some government agency, before they’ll consider committing the time, resources and capital to develop a new product. There is no established “firearm detection standard” or “IED detection standard” out there to start from. We recognized that there are thousands of venues, from schools to stadiums to workplaces, that want to a create an environment that’s safe from threats to the crowd.  Most of them aren’t really worried about objects that might be considered threats in a prison environment, or even an aviation environment. They are primarily concerned about firearms in the US and other similar threats to the crowd outside the US. These concerns have been well-known and almost universal for decades, but the venue operators had broadly rejected security metal detectors because they are awful.  There are few products in the world so universally hated as walk-through metal detectors. Users made a value judgement and decided it wasn’t worth creating a line that trails around the block in order to screen visitors for weapons. Most just went with the lowest common denominator – guards looking in visitors’ bags or perhaps a cursory hand-wanding. We were willing to create the detection system we thought people were really looking for, even though there wasn’t a specification available to reference. It was definitely the harder path, but we believe it was ultimately the right path. 

Anil: I think we looked at the problem very differently than others in this space. We didn’t want to find metal, we wanted to find weapons. In fact, we wanted to ignore personal items such as cell phones, keys and belt buckles. Once you look at the problem from a different lens, you start to think about the technology direction differently. The hardest part of the problem was to build a robust, resilient system that was adaptable to operate in a multitude of environments with different types of visitors carrying a wide range of personal items. A family going to a theme park is carrying different personal items than a worker going into a warehouse, a kid going to school, or a couple going to the opera.  We focused on understanding three key factors: stream of commerce coming through, the environmental factors at the site, and operational variables for different security approaches. We then built a system that would be robust, resilient and flexible to meet these varied situations.   

Dana: What were the major challenges? 

Mike: One of the biggest challenges was being able to identify threats without slowing down the visitor flow, ideally without even breaking stride and with people walking together, even side-by-side. This requires being able to isolate individuals and find threats almost instantly, which is hard when you also need detection to be both more precise and more accurate than existing systems. Another related problem was providing a welcoming, non-threatening visitor experience while also creating a clear visual deterrent. Having an industrial design that unsettles threat actors by conveying that there is some serious tech under the hood without making it scary to harmless visitors was a tricky balancing act. And finally, there is the simple fact that we had to raise tens of millions of dollars of capital to adequately fund R&D and production. We had to innovate at the edge of the possible in both bits and atoms, and that’s just harder and more expensive than developing other types of products. That said, there’s nothing I enjoy more than being together with a group of smart people tackling tough problems like these. 

Anil: It’s hard. It’s just really, really hard. Because the system is detecting and preventing weapons from entering facilities, it needs to operate at extremely high-performance levels. It can’t be right just some of the time. Additionally, we look at the security system as a combination of technology plus people (security staff) and process. These elements all need to work hand-in-hand. And people are fallible and inconsistent. It’s insanely difficult to maintain the same level of vigilance for every person coming through over a two-hour shift. With lines forming, anxious visitors, under hot sun or in driving rain — it’s just hard. We used advanced technology to automate the mundane, repetitive tasks so the security staff can focus on the most important tasks that require human attention. They need to address those few people who may be a threat with focused attention and follow their prescribed protocols.  It took lots of iteration to get that balance right. 

Dana: So, is this what you’d call a deep tech problem? 

Mike: This is absolutely a deep tech problem. First, you have to understand the physics and develop the sensors that enable the system to discriminate between innocuous everyday items and real security threats. Then you need to design a hardware and software architecture that can work consistently, anytime and anywhere, while screening up to 3,600 people per hour, or one person per second. That’s essentially as fast as people can stream through a set of double doors. And then once you have the data and can keep up with the flow, you need to process the information and make a decision while visitors are still within a stride of the threshold. This requires a combination of advanced embedded software and machine learning. Anyone with a titanium hip or knee will appreciate the system’s ability to ignore these implants and other everyday items while automatically detecting actual threats. 

Anil: What Mike said. It’s deep tech that requires a cross functional, highly integrated approach.  I don‘t even understand the math on our whiteboards or the signal chain through the system.  But it works, and it works really well. 

Dana: Where do we stand relative to accomplishing the Evolv mission? 

Mike: When we started Evolv, we envisioned a world where people were safe in all the places we live, work and play. We’ve taken a big step toward that vision, but it feels like we’ve only just scratched the surface so far. There are plenty of venues that want to create a safer environment for their visitors, fans, employees, students and guests but are just now starting to learn that Evolv exists. We need to do more to get our story out there. We’re also thinking deeply about other ways to apply our core technology to prevent gun violence, active shooter and terrorist events in different types of applications and spaces. There are plenty more technology and business problems to solve on the road to fully realizing our vision. We know we have a long way to go, but we’ll get there eventually. 

Anil: Evolv has taken a major step toward making the world a safer place. Many of our customers were not using any security screening technology before we deployed our products at their locations. We’ve kept thousands and thousands of weapons out of places where they aren’t welcome. We’re now screening over 11 million visitors a month, and that number continues to grow rapidly. But the fact is, there are still shootings and bombings. There are fatalities and injuries that can be prevented. We’ve got to accelerate and scale everything we do to match the scope of the problem. Our story has just begun. 

Democratizing Security: Keeping People Safe

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Helping Evolv become a public company has been an incredible, and humbling experience. Our customers, employees, advisors, and investors have been wonderfully unified behind our mission of making the world a safer place, and we are truly thankful for their support. Building momentum through an unpredictable pandemic has been a wild ride, but we’ve come through it stronger than ever. Now that our transformation into EVLV on the NASDAQ is complete, it’s a good time to look to the future. 

While becoming a public company is a noteworthy milestone for all our stakeholders, the stakeholders I am most focused on are the millions of innocent people rushing back into their favorite venues, unaware that they’re surrounded by concealed weapons. Compelling new data and the lived experiences of our customers have convinced me that the threat profile is spiking in ways that few people fully realize and even fewer are equipped to address. As security professionals, we need to start thinking differently about the threat and work together to address it. 

Take Me Out to The Ballgame, but Don’t Touch Me. 

After 16 months of pandemic anxiety, travel restrictions, lockdowns, social distancing, and masking, the vaccinated population is justifiably feeling entitled to return to all their favorite gathering places. Most people are emerging from the pandemic fog with excitement, but many still harbor significant anxiety about being in crowds or having physical contact with? strangers. The professionals who run facilities and venues are understandably thrilled to welcome back their visitors, but it must be done in a way that recognizes the long-lasting—and possibly permanent—changes in visitor expectations. Going back to densely crowded, hands-on security screening is not what anyone wants in the post-pandemic world. 

There are More Guns than You Think  

It’s no secret that there are a lot of guns out there, but many people don’t realize that they likely encounter multiple concealed guns every day without realizing it. Based on industry data, we estimate that there are over 440 million civilian-owned guns per person in the U.S. That’s around 1.3 guns for every person in the country. About 42% of U.S. households own at least one gun and few guns are kept exclusively at home. A quarter of Americans say they carry a gun at least sometimes and nearly a fifth, 18%, claim to carry every day. And no, it’s not just a red state thing: 28% of people in the Northeast say they carry a gun at least some of the time. 

Civilian Firearms in the United Statesbased on Evolv analysis of datafromSmall Arms Survey 2018andSmall ArmsAnalytics2018-2021.

Another fact that might surprise you is that the United States is not the only country where civilian-owned guns are common. According to Small Arms Survey research, there are 85 countries with 10 or more civilian-owned guns per 100 population. The list includes Germany, France, Italy, Belgium, Australia, New Zealand, and many other countries you might not expect. There are almost half a billion civilian-owned guns outside the United States, and while mass public shootings may feel less common in other countries, the list of tragic incidents outside the U.S. is not short.

Map of civilian guns per 100 people by country from theSmall Arms Survey 2017.

Guns are in the Building 

Nearly every privately-owned facility and venue prohibits dangerous weapons, but the inconvenient truth is that many weapons slip through. How do I know this? Because most of our customers tell us that when they start using our Evolv Express® weapons detection screening, they find a shocking number of guns—far more than they expected and more than they ever found using procedures based on old technology such as metal detectors. I know of one facility in the U.S. that found 57 concealed guns in their first hour of testing Evolv Express at a single entrance. And no, it wasn’t a gun show or a law enforcement convention. It was a place where any average American family might find themselves on any given day of the week.  

The stark reality is that old metal detector screening procedures fail to catch a lot of guns. That’s not to say metal detectors don’t work—it’s the combined system of people, process, and technology that fails. Metal detectors alarm on so many harmless objects that security staff divert all bags and pocket contents into slow, error-prone manual searches. Working under the angry stares of hundreds of frustrated visitors, security staff are under incredible pressure to keep things moving. The guns slip through. 

A Fraying Society is a Dangerous Society 

The likelihood of tragic violence increases when more guns are in the hands of people who are unusually anxious or fearful. New gun purchases were up 64% last year in the United States. The CDC says 40% of U.S. adults reported recent battles with mental health or substance abuse during 2020, with the prevalence of anxiety up 3X and depression up 4X year on year. And ongoing political polarization and extremist ideologies are creating an increasingly volatile situation.  

More guns in more anxious hands means more tragic incidents. It’s just math, but that’s the reality of where we are as a society. The U.S. Department of Homeland Security summarized the situation in a 30 June law enforcement bulletin as follows: 

“In recent weeks, domestic violent extremists (DVEs) motivated by various violent ideologies have continued to advocate violence and plan attacks. As of 16 June, racially or ethnically motivated violent extremist-white supremacists (RMVE-WSs) were sharing downloadable links to a publication discussing targeting mass gatherings, critical infrastructure, and law enforcement officers.”

It’s not just a handful of extremists who are changing the threat landscape. While only a tiny minority of gun owners are infected with the extremist ideologies that the DHS is tracking, the fact remains that many of people around us every day are feeling threatened enough to arm themselves. This increases the risk of tragic escalations where misunderstandings and opportunistic conflict can quickly erupt into violence. 

The Duty of Care to Keep People Safe 

The police recently arrested a man who tried to enter a major tourist destination with an unlicensed gun that was detected by Evolv Express. When questioned, the man explained that he felt threatened by recent public protests and felt he needed the gun to protect his family on vacation, and was willing to take the risk of detection. That’s where we are. The strength of the “visible deterrent” factor is fading fast. Facilities and venues need to start reliably detecting and stopping guns, and then let the public know they have this capability. It’s the only way to reclaim the lost ground, and it needs to happen soon. 

If anxious gun owners are trying to slip into major tourist destinations with guns even when they know it is illegal and can clearly see security screening in place, it is safe to assume that they are also entering schools, grocery stores, malls, houses of worship, and other facilities where weapons are also prohibited, but screening is largely absent. The threat is everywhere.  

As noted earlier, our customers tell us they find a surprising number of weapons with Evolv Express. They also tell us they love that they find more guns while allowing harmless visitors to enter ten times faster than their old screening process based on metal detectors and universal bag checks. They tell us they need fewer front-line security staff overall with Evolv Express, and the remaining staff loves the new process. They also tell us they love the operational awareness they get from Express Insights™ analytics. We hear this same story across hundreds of sites as we scan over 11 million individual visitors every month.  

At this point, I believe it has become abundantly clear that Evolv Express has set a new and higher standard for what security screening should be.  I believe every facility and venue owner has a duty of care to carefully consider the new standard that our weapons detection system represents in light of the escalating threats we’re seeing. We are committed to democratizing access to this technology over time so it can be everywhere it needs to be to keep the vulnerable masses safe.  

If you want to be part of raising the standard of safety for millions of people, we’d love to have your support. Here are a few ideas on how you can help. If you are responsible for security at a facility or venue, please get in touch so we can discuss your needs. Consider speaking with the security staff at the places you gather most often and ask them if they have considered weapons detection. If you’ve experienced the speed and precision of Evolv Express in person, help us tell the world about it. And if you are looking to get more directly involved, note that we’re hiring in almost every department. Together we can all do a little to make everywhere safer.  

The New Standard: Safety in Motion

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What if we lived in a world where we could work, learn and play together without the fear of weapons violence? This is what our founders Mike Ellenbogen, Co-Founder and Head of Technology, and Anil Chitkara, Co-Founder and Head of Corporate Development have set out to do. All of us at Evolv Technology share that same mission; transform security to enhance everyone’s life. This is our duty-of-care and we hold ourselves accountable to it. 

As of today, six months into 2021, there have been 319 mass shootings, compared to 417 in all of 2019 (according to www.gunviolencearchive.org). The old standards for security aren’t keeping up with the security requirements of today. Many institutions that have used metal detectors for security realize they can no longer keep large numbers of people queuing in security lines. Aside from the potential health hazard lines create, this opens up an additional security vulnerability. Venues and enterprises that have never used security screening are now budgeting to keep their visitors safe. Traditional metal detector technology just cannot address the pace of life and the ubiquitous need for security in our daily lives.

We need new standards. We need security that continually improves – touchless, free-flowing, and frictionless technology – supported by a strong concept of operations and enforced by well-trained security personnel. The days of bag checks, wands, and body checks are unacceptable and biased. We must find the weapons, not the metal. Advanced sensors and artificial intelligence are at the forefront of this evolution. This is where we come in.

We are obsessed with our customers’ success and strive to do better and be better for them. That requires authenticity and real products that work. At Evolv we do what we say and say what we do. There is no room for bravado. 

Evolv innovations are fueling the physical security transformation, disrupting the status quo. Evolv Express®, powered by Evolv Cortex AI™, can distinguish between metals that are personal items from weapons used for harm. No longer do visitors, fans, employees, and students need to stand in long lines to slog through metal detectors. They can move at the pace of life through our weapons detection systems, eliminating the potential soft targets long lines create to seamlessly flow through security. Life shouldn’t feel like airport security.

New standards call for a new brand. We’re calling it Safety in Motion. The modernized look is representative of our technological innovations in security screening, using cutting-edge technology for today’s security needs. Moreover, we wanted our new brand to reflect our mission: Transform security to enhance everyone’s life. We think it does, we hope you do too.

Evolv Technology to Provide a Safer, Frictionless Fan Experience at New State-of-the-Art Lower.com Field, Home of MLS Team Columbus Crew

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WALTHAM, Mass. (July 2, 2021) – Evolv Technology, the leader in weapons detection screening, today announced that Lower.com Field, will launch with its artificial intelligence-based system, Evolv Express®. Lower.com Field is a new $313.9 million stadium with the fan experience at the center of its design. The new state-of-the-art stadium was designed to transform the fan experience throughout their visit, starting with security. As supporters enter the stadium, they will experience enhanced safety and a free-flowing screening system by walking through at the pace of life. It is anticipated that more than 20,000 supporters will be screened prior to entering the downtown Columbus, Ohio venue, which is set to open at full capacity this Saturday, July 3, when the Columbus Crew hosts the New England Revolution for the venue’s inaugural match. 

“The fan experience and safety were crucial elements to the design at Lower.com Field,” said Brandon Covert, Vice President – Information Technology for Haslam Sports Group. “Our goal is to provide a world class experience for all fans to enter and move around the stadium in a safe and secure manner.  We had a unique opportunity to work with one of the most technologically advanced and best-in-class partners to bring our vision for the stadium to life. After testing Evolv Express weapons detection screening, we are confident in our belief that it will help us maintain a safe and frictionless experience for all fans attending matches and events at our new stadium.” 

Built on its Evolv Cortex AI™ software platform, Evolv continually improves its customers’ security posture through machine learning and on-demand analytical insights in a way that legacy metal detectors and other analog screening systems cannot. Evolv’s innovative security screening technology has supported more than ten major sporting events in 2021, including the U.S. Open Golf Championship earlier this month. 

“We are delighted to support the new state-of-the-art Lower.com Field with our frictionless weapons detection screening,” said Peter George, CEO, Evolv Technology. “Our partnership has been a perfect match with a mutual vision, to transform the fan experience, while ensuring what we believe are the highest levels of safety. We could not be more pleased to be a part of this inaugural day and look forward to seeing our vision come to life.”  

Evolv’s systems have been used to screen more than 60 million people, second only to the Department of Homeland Security’s Transportation Security Administration in screening people in the U.S.   

Evolv Express®: 

  • Screens an unparalleled 3,600 people per hour, per system 
  • Delivers up to a 70% reduction in cost  
  • Is 10 times faster than traditional metal detectors 

The new screening system will be in place on launch day. Supporters will not have to stop or empty their pockets unless directed to do so by security personnel. 

 

About Evolv Technology 

Evolv Technology is the world’s leading provider of AI touchless security screening systems that enhance safety without sacrificing the visitor, student and employee experience. Built on top of its Evolv Cortex AI™ software platform, the company provides an array of AI touchless screening technologies for weapons detection, identity verification and health-related threats. Led by a team of security industry leaders with a track record for delivering first-to-market products, Evolv’s investors include Florida Governor Jeb Bush’s firm, Finback Investment Partners, DCVC, General Catalyst Partners, Lux Capital, SineWave Ventures, Motorola Solutions and STANLEY Ventures. The company’s strategic channel partners include Motorola Solutions, STANLEY Security and Johnson Controls. Evolv Express® has earned industry accolades such as the 2020 Edison Awards™, two Campus Safety 2020 BEST Awards, Campus Security & Life Safety magazine’s Secure Campus 2020 Awards and Best Places to Work by Inc. Magazine and Built in Boston.

In March 2021, Evolv entered into a definitive agreement for a business combination with NewHold Investment Corp. (NASDAQ: NHIC) in a transaction that would result in Evolv becoming a U.S. publicly listed entity. The transaction is expected to close shortly after the second quarter of 2021, subject to satisfaction of customary closing conditions. For more information visit https://nhicspac.com. 

Evolv Technology, Evolv Express®, 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. 

About NewHold Investment Corp. 

NewHold Investment Corp. is a blank check company formed in 2020 for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue a business combination target in any business or industry, it focuses on identifying businesses in the industrial technology sector. For more information visit https://nhicspac.com. 

 

About Columbus Crew  
Columbus Crew is the first club in Major League Soccer. The Crew is operated by The Edwards Family and Haslam Sports Group. The Black & Gold are the 2020 MLS Cup Champions. The Club won its first MLS Cup championship in 2008 and also won the 2002 Lamar Hunt U.S. Open Cup as well as MLS Supporters’ Shield titles in 2004, 2008 and 2009. The 2021 campaign is the Columbus Crew’s 26th season in MLS as well as the Club’s final season at Historic Crew Stadium – the first soccer-specific stadium in the United States – and the Crew’s inaugural season at Lower.com Field.  

Website: ColumbusCrew.com | Twitter: @ColumbusCrew | Instagram: @ColumbusCrew | Hashtag: #Crew96 | Facebook.com/columbuscrew | App: ColumbusCrew.com/app | Training Facility: OhioHealth Performance Center | Lower.com Field coming July 2021  

 

Forward-Looking Statements 

This document contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between NewHold Investment Corp. (“NewHold”) and Evolv Technologies, Inc. (“Evolv”). These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of NewHold’s securities, (iii) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the Agreement and Plan of Merger, dated as of March 5, 2021 (the “Merger Agreement”), by and among NewHold, Evolv and NHIC Merger Sub Inc., a Delaware corporation and a direct wholly owned subsidiary of NewHold, by the stockholders of NewHold, the satisfaction of the minimum trust account amount following redemptions by NewHold’s public stockholders and the receipt of certain governmental and regulatory approvals, (iv) the lack of a third party valuation in determining whether or not to pursue the transaction, (v) the inability to complete the PIPE investment in connection with the transaction, (vi) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, (vii) the effect of the announcement or pendency of the transaction on Evolv Aviation’s business relationships, operating results and business generally, (viii) risks that the proposed transaction disrupts current plans and operations of Evolv and potential difficulties in Evolv employee retention as a result of the transaction, (ix) the outcome of any legal proceedings that may be instituted against Evolv or against NewHold related to the Merger Agreement or the transaction, (x) the ability to maintain the listing of NewHold’s securities on a national securities exchange, (xi) the price of NewHold’s securities may be volatile due to a variety of factors, including changes in the competitive and highly regulated industries in which NewHold plans to operate or Evolv operates, variations in operating performance across competitors, changes in laws and regulations affecting NewHold’s or Evolv’s business and changes in the combined capital structure, (xii) the ability to implement business plans, forecasts, and other expectations after the completion of the transaction, and identify and realize additional opportunities, and (xiii) the risk of downturns and a changing regulatory landscape in Evolv’s highly competitive industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of NewHold’s registration on Form S-1 (File No. 333-239822), the registration statement on Form S-4 discussed above and other documents filed by NewHold from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and except as required by law NewHold and Evolv assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither NewHold nor Evolv gives any assurance that either NewHold or Evolv or the combined company will achieve its expectations. 

Any financial projections in this communication are forward-looking statements that are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond NewHold’s and Evolv’s control. While all projections are necessarily speculative, NewHold and Evolv believe that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection extends from the date of preparation. The assumptions and estimates underlying the projected results are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the projections. The inclusion of projections in this communication should not be regarded as an indication that NewHold and Evolv, or their representatives, considered or consider the projections to be a reliable prediction of future events. 

Important Information for Investors and Stockholders 

This document describes to a proposed transaction between NewHold and Evolv. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. NewHold has filed a registration statement on Form S-4 with the SEC, which includes a document that serves as a prospectus and proxy statement of NewHold, referred to as a proxy statement/prospectus. When final, a proxy statement/prospectus will be sent to all NewHold stockholders. NewHold also will file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and security holders of NewHold are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction. 

Investors and security holders will be able to obtain free copies of the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by NewHold through the website maintained by the SEC at www.sec.gov. Alternatively, these documents, when available, can be obtained free of charge from NewHold upon written request to NewHold Investment Corp., c/o NewHold Enterprises, LLC, 52 Vanderbilt Avenue, Suite 2005, New York, New York 10017, Attn: Charlie Baynes-Reid, or by calling (212) 653-0153, or by email at info@newholdllc.com. 

Participants in the Solicitation 

NewHold and Evolv and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from NewHold’s stockholders in connection with the proposed transaction. A list of the names of the directors and executive officers of NewHold and information regarding their interests in the business combination will be contained in the proxy statement/prospectus. You may obtain free copies of these documents as described in the preceding paragraph. 

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such other jurisdiction. 

 ###

For Evolv Technology: 

Investor Contacts: 

Michael Bowen and Ryan Gardella 
EvolvIR@icrinc.com 

Media Contact: 

Kristin Faulder (on behalf of Evolv Technology) 

kristin@heurisay.com 

 

For NewHold Investment Corp.: 

Investor & Media Contact: 

Amanda Tarplin 
amanda@tarplinconsulting.com 

  

  

Several major market professional sports teams, including NFL and MLB franchises, have partnered with the company

WALTHAM, Mass. (July 2, 2021) – Evolv Technology, the leader in weapons detection screening, today announced that Lower.com Field, will launch with its artificial intelligence-based system, Evolv Express®. Lower.com Field is a new $313.9 million stadium with the fan experience at the center of its design. The new state-of-the-art stadium was designed to transform the fan experience throughout their visit, starting with security. As supporters enter the stadium, they will experience enhanced safety and a free-flowing screening system by walking through at the pace of life. It is anticipated that more than 20,000 supporters will be screened prior to entering the downtown Columbus, Ohio venue, which is set to open at full capacity this Saturday, July 3, when the Columbus Crew hosts the New England Revolution for the venue’s inaugural match. 

“The fan experience and safety were crucial elements to the design at Lower.com Field,” said Brandon Covert, Vice President – Information Technology for Haslam Sports Group. “Our goal is to provide a world class experience for all fans to enter and move around the stadium in a safe and secure manner.  We had a unique opportunity to work with one of the most technologically advanced and best-in-class partners to bring our vision for the stadium to life. After testing Evolv Express weapons detection screening, we are confident in our belief that it will help us maintain a safe and frictionless experience for all fans attending matches and events at our new stadium.” 

Built on its Evolv Cortex AI™ software platform, Evolv continually improves its customers’ security posture through machine learning and on-demand analytical insights in a way that legacy metal detectors and other analog screening systems cannot. Evolv’s innovative security screening technology has supported more than ten major sporting events in 2021, including the U.S. Open Golf Championship earlier this month. 

“We are delighted to support the new state-of-the-art Lower.com Field with our frictionless weapons detection screening,” said Peter George, CEO, Evolv Technology. “Our partnership has been a perfect match with a mutual vision, to transform the fan experience, while ensuring what we believe are the highest levels of safety. We could not be more pleased to be a part of this inaugural day and look forward to seeing our vision come to life.”  

Evolv’s systems have been used to screen more than 60 million people, second only to the Department of Homeland Security’s Transportation Security Administration in screening people in the U.S.   

Evolv Express®: 

  • Screens an unparalleled 3,600 people per hour, per system 
  • Delivers up to a 70% reduction in cost  
  • Is 10 times faster than traditional metal detectors 

The new screening system will be in place on launch day. Supporters will not have to stop or empty their pockets unless directed to do so by security personnel. 

 

About Evolv Technology 

Evolv Technology is the world’s leading provider of AI touchless security screening systems that enhance safety without sacrificing the visitor, student and employee experience. Built on top of its Evolv Cortex AI™ software platform, the company provides an array of AI touchless screening technologies for weapons detection, identity verification and health-related threats. Led by a team of security industry leaders with a track record for delivering first-to-market products, Evolv’s investors include Florida Governor Jeb Bush’s firm, Finback Investment Partners, DCVC, General Catalyst Partners, Lux Capital, SineWave Ventures, Motorola Solutions and STANLEY Ventures. The company’s strategic channel partners include Motorola Solutions, STANLEY Security and Johnson Controls. Evolv Express® has earned industry accolades such as the 2020 Edison Awards™, two Campus Safety 2020 BEST Awards, Campus Security & Life Safety magazine’s Secure Campus 2020 Awards and Best Places to Work by Inc. Magazine and Built in Boston.

In March 2021, Evolv entered into a definitive agreement for a business combination with NewHold Investment Corp. (NASDAQ: NHIC) in a transaction that would result in Evolv becoming a U.S. publicly listed entity. The transaction is expected to close shortly after the second quarter of 2021, subject to satisfaction of customary closing conditions. For more information visit https://nhicspac.com. 

Evolv Technology, Evolv Express®, 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. 

About NewHold Investment Corp. 

NewHold Investment Corp. is a blank check company formed in 2020 for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue a business combination target in any business or industry, it focuses on identifying businesses in the industrial technology sector. For more information visit https://nhicspac.com. 

 

About Columbus Crew  
Columbus Crew is the first club in Major League Soccer. The Crew is operated by The Edwards Family and Haslam Sports Group. The Black & Gold are the 2020 MLS Cup Champions. The Club won its first MLS Cup championship in 2008 and also won the 2002 Lamar Hunt U.S. Open Cup as well as MLS Supporters’ Shield titles in 2004, 2008 and 2009. The 2021 campaign is the Columbus Crew’s 26th season in MLS as well as the Club’s final season at Historic Crew Stadium – the first soccer-specific stadium in the United States – and the Crew’s inaugural season at Lower.com Field.  

Website: ColumbusCrew.com | Twitter: @ColumbusCrew | Instagram: @ColumbusCrew | Hashtag: #Crew96 | Facebook.com/columbuscrew | App: ColumbusCrew.com/app | Training Facility: OhioHealth Performance Center | Lower.com Field coming July 2021  

 

Forward-Looking Statements 

This document contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between NewHold Investment Corp. (“NewHold”) and Evolv Technologies, Inc. (“Evolv”). These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of NewHold’s securities, (iii) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the Agreement and Plan of Merger, dated as of March 5, 2021 (the “Merger Agreement”), by and among NewHold, Evolv and NHIC Merger Sub Inc., a Delaware corporation and a direct wholly owned subsidiary of NewHold, by the stockholders of NewHold, the satisfaction of the minimum trust account amount following redemptions by NewHold’s public stockholders and the receipt of certain governmental and regulatory approvals, (iv) the lack of a third party valuation in determining whether or not to pursue the transaction, (v) the inability to complete the PIPE investment in connection with the transaction, (vi) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, (vii) the effect of the announcement or pendency of the transaction on Evolv Aviation’s business relationships, operating results and business generally, (viii) risks that the proposed transaction disrupts current plans and operations of Evolv and potential difficulties in Evolv employee retention as a result of the transaction, (ix) the outcome of any legal proceedings that may be instituted against Evolv or against NewHold related to the Merger Agreement or the transaction, (x) the ability to maintain the listing of NewHold’s securities on a national securities exchange, (xi) the price of NewHold’s securities may be volatile due to a variety of factors, including changes in the competitive and highly regulated industries in which NewHold plans to operate or Evolv operates, variations in operating performance across competitors, changes in laws and regulations affecting NewHold’s or Evolv’s business and changes in the combined capital structure, (xii) the ability to implement business plans, forecasts, and other expectations after the completion of the transaction, and identify and realize additional opportunities, and (xiii) the risk of downturns and a changing regulatory landscape in Evolv’s highly competitive industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of NewHold’s registration on Form S-1 (File No. 333-239822), the registration statement on Form S-4 discussed above and other documents filed by NewHold from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and except as required by law NewHold and Evolv assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither NewHold nor Evolv gives any assurance that either NewHold or Evolv or the combined company will achieve its expectations. 

Any financial projections in this communication are forward-looking statements that are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond NewHold’s and Evolv’s control. While all projections are necessarily speculative, NewHold and Evolv believe that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection extends from the date of preparation. The assumptions and estimates underlying the projected results are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the projections. The inclusion of projections in this communication should not be regarded as an indication that NewHold and Evolv, or their representatives, considered or consider the projections to be a reliable prediction of future events. 

Important Information for Investors and Stockholders 

This document describes to a proposed transaction between NewHold and Evolv. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. NewHold has filed a registration statement on Form S-4 with the SEC, which includes a document that serves as a prospectus and proxy statement of NewHold, referred to as a proxy statement/prospectus. When final, a proxy statement/prospectus will be sent to all NewHold stockholders. NewHold also will file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and security holders of NewHold are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction. 

Investors and security holders will be able to obtain free copies of the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by NewHold through the website maintained by the SEC at www.sec.gov. Alternatively, these documents, when available, can be obtained free of charge from NewHold upon written request to NewHold Investment Corp., c/o NewHold Enterprises, LLC, 52 Vanderbilt Avenue, Suite 2005, New York, New York 10017, Attn: Charlie Baynes-Reid, or by calling (212) 653-0153, or by email at info@newholdllc.com. 

Participants in the Solicitation 

NewHold and Evolv and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from NewHold’s stockholders in connection with the proposed transaction. A list of the names of the directors and executive officers of NewHold and information regarding their interests in the business combination will be contained in the proxy statement/prospectus. You may obtain free copies of these documents as described in the preceding paragraph. 

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such other jurisdiction. 

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For Evolv Technology: 

Investor Contacts: 

Michael Bowen and Ryan Gardella 
EvolvIR@icrinc.com 

Media Contact: 

Kristin Faulder (on behalf of Evolv Technology) 

kristin@heurisay.com 

 

For NewHold Investment Corp.: 

Investor & Media Contact: 

Amanda Tarplin 
amanda@tarplinconsulting.com 

Evolv Technology to Enhance Security at the 121st U.S. Open Championship

Posted on by admin

WALTHAM, Mass. June 17, 2021 — Evolv is transforming the physical security industry by providing the world’s first AI-enabled touchless screening system. Built on its Evolv Cortex AI™ software platform, Evolv continually improves its customers’ security posture through machine learning and on-demand analytical insights in a way that legacy metal detectors and other analog screening systems cannot provide.

Evolv Express®, will help promote safety by using weapons detection screening at the main entry points without requiring fans to break stride for physical searches as is the case with traditional screening methods. While weapons of any kind have never been allowed at the event, this new system will detect them if they are brought in and guests will be asked to remove them from the property.

Evolv Technology, the leader in touchless security screening, will utilize its artificial intelligence-based touchless system, Evolv Express, to enhance the safety of fans at the upcoming U.S. Open Golf Championship at Torrey Pines Golf Course. This will be the tenth major national sporting event in 2021 that Evolv has supported with its innovative security screening technology.

“The USGA has a track record of innovating to enhance the fan experience without negatively affecting the game, and we’re thrilled to pilot Evolv Express with them to further promote this,” said Peter George, CEO, Evolv Technology. “By proactively addressing the safety of its fans, the USGA will enable them to spend more time along the fairways and in grandstands than in line waiting to enter.”

Evolv Express delivers up to a 70% reduction in cost and is 10 times faster than traditional metal detectors, resulting in screening an unparalleled 3,600 people per hour, per system. The world’s most iconic venues and companies place their trust in Evolv to protect their employees and visitors, including Uber, Lincoln Center, L.L. Bean, Six Flags, and hundreds of others.

Evolv’s systems have been used to screen more than 60 million people, second only to the Department of Homeland Security’s Transportation Security Administration in screening people in the U.S.

The new screening system will be in place at the Main Admission Gate of the Championship. Fans will not have to stop or empty their pockets unless directed to do so by security personnel.

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

 

Important Information for Investors and Stockholders

This document relates to a proposed transaction between NewHold and Evolv. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. NewHold has filed a registration statement on Form S-4 with the SEC, which includes a document that will serve as a prospectus and proxy statement of NewHold, referred to as a proxy statement/prospectus. A proxy statement/prospectus will be sent to all NewHold stockholders. NewHold also will file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and security holders of NewHold are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction.

Investors and security holders will be able to obtain free copies of the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by NewHold through the website maintained by the SEC at www.sec.gov. Alternatively, these documents, when available, can be obtained free of charge from NewHold upon written request to NewHold Investment Corp., c/o NewHold Enterprises, LLC, 52 Vanderbilt Avenue, Suite 2005, New York, New York 10017, Attn: Charlie Baynes-Reid, or by calling (212) 653-0153, or by email at info@newholdllc.com.

 

Participants in the Solicitation

NewHold and Evolv and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from NewHold’s stockholders in connection with the proposed transaction. A list of the names of the directors and executive officers of NewHold and information regarding their interests in the business combination will be contained in the proxy statement/prospectus when available. You may obtain free copies of these documents as described in the preceding paragraph.

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such other jurisdiction.

 

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Contact Info:

Evolv Technology
media@evolvtechnology.com