Nationwide makes venture capital investment in Deep Sentinel
Innovative security system for business owners leverages AI and human monitoring
Columbus, OH - Small business owners pour their hearts and souls into starting, growing and protecting their businesses. For those whose businesses are contained within a physical structure, that means having a security system that utilizes the latest innovations to protect the building. Nationwide’s latest venture capital investment is committed to doing just that.
Nationwide’s venture capital team is making an investment in Deep Sentinel, an innovative security system provider which combines artificial intelligence with human monitoring to prevent crimes before they even happen. The funding comes from Nationwide’s $100 million venture capital investment fund.
“Technology and protection products like Deep Sentinel support small business owners in safeguarding their livelihood which is critical to operational success,” said Nationwide Vice President of Commercial Underwriting and Product Tony Fenton. “Nationwide is proud to have spent the last 90 years empowering and protecting small business owners which aligns well with the capabilities of Deep Sentinel."
Deep Sentinel is the only AI-powered security provider with monitoring by live guards. The company recently unveiled a new product designed for small-to-medium businesses: Deep Sentinel for Business. Providing after-hours protection against crimes like vandalism and theft, Deep Sentinel for Business features many of the same benefits as Deep Sentinel’s home security product. Weatherproof cameras use AI to detect potential threats, alerting one of the company’s LiveSentinel™ guards to any unusual activity. Guards can then intervene through the system’s two-way audio and 104dB siren, with the ability to contact local law enforcement within seconds, if needed.
"Nationwide has decades of experience protecting homeowners and businesses, so it's a natural fit to partner with them as we work to provide best-in-class security for our own customers," said David Selinger, Deep Sentinel CEO and co-founder. "We share a commitment to exceptional customer care and look forward to working together as Deep Sentinel continues to revolutionize security through cutting-edge technology."
Nationwide’s venture capital team has made several recent investments, including: Vesta Healthcare, KINETIC, Upstream Security, Socotra, Betterview, Nexar, BlueVine, blooom, Insurify, Next Insurance, Matic and Sure.
Nationwide’s partnerships through venture capital
In addition to Nationwide’s venture capital investment efforts, the company has several notable partnerships within the portfolio, including:
• In September 2019, Nationwide launched Spire - a simple, easy-to-understand digital auto insurance platform, built on fair and straightforward principles and designed to be convenient and accessible from your phone. Spire chose portfolio company Socotra as the core system to power its new digital insurance platform.
• In November 2019, Nationwide announced a three-year commercial agreement with Betterview. Betterview is quickly becoming the platform essential to every transaction around buildings and properties, enabling the insurance carrier to utilize Betterview's predictive roof analytics and risk management platform for commercial property renewals.
About Deep Sentinel
Deep Sentinel is the market’s most innovative security system, combining artificial intelligence with human monitoring to prevent crimes before they even happen. The company’s wireless cameras use AI to automatically alert a trained LiveSentinel™ guard to potential threats, and the system’s built-in siren and two-way speakers allow the guard to intervene in suspicious situations. If necessary, guards will contact local law enforcement within seconds with a verified threat report, allowing for a faster response time than other security services. Unlike other systems, Deep Sentinel doesn’t just passively deter criminals or capture evidence for after-the-fact—it helps prevent crimes before they ever happen. For more information, visit www.deepsentinel.com.
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States. Nationwide is rated A+ by both A.M. Best and Standard & Poor’s. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com. Follow us on Facebook and Twitter.