Largest order to date from long-standing client; Reinforces commitment to AI-driven security solutions
AI-powered solutions enhance property protection while reducing operational costs
PALO ALTO, CA, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Cloudastructure, Inc. (Nasdaq: CSAI) (“we,” “us,” “our,” “Cloudastructure” or the “Company”), a cloud-based video surveillance platform with artificial intelligence (“AI”) and computer vision analytics, today announced a significant expansion of their partnership with one of the nation’s leading multifamily investment firms and a premier provider of multifamily real estate services. This valued, long-term customer has placed its largest order to date, signaling an accelerated deployment of Cloudastructure’s AI-driven security platform.
The client, a multi-disciplined real estate investment and services firm managing over 60,000 units across 350 properties in the U.S., has been an advocate for leveraging technology to enhance operational efficiencies. By increasing its investment in Cloudastructure’s cutting-edge surveillance and remote guarding solutions, the firm is reinforcing its commitment to delivering best-in-class security across its extensive portfolio.
"We are excited to strengthen our partnership with one of the most prominent and respected names in multifamily real estate," said James McCormick, CEO of Cloudastructure. “Their decision to proceed with seven new properties represents their largest single rollout to date, potentially signaling accelerated growth and increased adoption this year. Our platform delivers unparalleled real-time surveillance, significantly enhancing security while reducing costs compared to traditional on-site guards. This collaboration highlights the growing demand for intelligent, AI-driven security solutions that not only protect assets but also streamline operations. As the industry embraces advanced surveillance technologies, we look forward to continuing our support for property owners and managers, helping them safeguard their investments and create safer communities."
Cloudastructure’s AI-powered surveillance solutions provide real-time anomaly detection, remote monitoring, and automated alerts, enhancing security effectiveness while significantly reducing costs. By replacing traditional on-site guards, customers achieve substantial savings and benefit from 24/7 comprehensive protection. As the multifamily sector rapidly adopts cloud-based security, Cloudastructure remains at the forefront of this transformation. Market trends further validate its growth trajectory, with AI-driven security solutions gaining momentum—projected to reach a $134.8 billion market by 2025, and over 50% of businesses expected to transition to cloud-based surveillance by 2026. Remote guarding, Cloudastructure’s fastest-growing segment, continues to drive crime reduction, improve tenant retention, and boost profitability. With a 98% customer retention rate, continuing revenue growth, and a scalable business model, we believe Cloudastructure is well-positioned to lead the evolution of security technology, delivering cutting-edge solutions that redefine modern security standards across industries.
ABOUT CLOUDASTRUCTURE
Headquartered in Palo Alto, California, Cloudastructure’s advanced award-winning security platform utilizes a scalable cloud-based architecture that features cloud video surveillance with proprietary, state-of-the-art AI/ML analytics, and a seamless remote guarding solution. The combination enables enterprise businesses to achieve proactive, end-to-end security, and pairs that platform with an attractive value proposition that eschews proprietary hardware and offers contract-free, month-to-month pricing and unlimited 24/7 support. With Cloudastructure, companies can achieve unparalleled situational awareness in real time and thereby stop crime as it is happening, while simultaneously achieving up to a 75% lower Total Cost of Ownership than other systems. For more information, visit https://www.cloudastructure.com/.
Forward-Looking Statements
Certain statements in this press release may be considered forward-looking, such as statements containing estimates, projections, and other forward-looking information. Forward-looking statements are typically identified by words and phrases such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “seek,” “should,” “will,” “would,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target” or the negative of such words and other comparable terminology. However, the absence of these words does not mean that a statement is not forward-looking. Any forward-looking statements expressing an expectation or belief as to future events is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future events and involve risks, uncertainties, and other factors beyond our control. Therefore, we caution you against relying on any of these forward-looking statements. Actual outcomes and results may differ materially from what is expressed in any forward-looking statement. Except as required by applicable law, including U.S. federal securities laws, we do not intend to update any of the forward-looking statements to conform them to actual results or revised expectations.
Media Contact:
Kathleen Hannon
Sr. Communications Director
Cloudastructure, Inc.
Kathleen@cloudastructure.com.
(704) 574-3732
Investor Contacts:
Crescendo Communications, LLC
212-671-1020
CSAI@crescendo-ir.com
