Palo Alto, CA, April 21, 2025 (GLOBE NEWSWIRE) -- Cloudastructure, Inc. (Nasdaq: CSAI) (“we,” “us,” “our,” “Cloudastructure” or the “Company”), a leading cloud video surveillance provider of next-generation AI-powered solutions, today announced that it has secured an additional $3 million investment from an existing institutional investor through the issuance of Series 2 Convertible Preferred Stock. The additional capital is intended to support Cloudastructure’s ongoing expansion and advancement of its next-generation AI-powered security solutions.

Under the terms of the agreement, Cloudastructure has issued 3,000 shares of Series 2 Convertible Preferred Stock at a purchase price of $1,000 per share. The Series 2 Preferred Stock carries a 9.5% annual preferred return and is convertible into shares of the Company’s Class A common stock, subject to specified terms and conditions.

Maxim Group LLC acted as sole placement agent in connection with the preferred investment.

“We are deeply appreciative of our investor’s continued support and belief in our mission,” said James McCormick, Chief Executive Officer of Cloudastructure. “We believe their ongoing investment is a strong affirmation of our strategy and progress, and it enables us to continue executing on our plan to deliver AI-powered security solutions that are transforming enterprise security. With this capital, we intend to enhance product development, scale our operations, and further expand our sales, installation, and customer success teams to meet growing demand.”

This follow-on investment comes on the heels of Cloudastructure’s successful $4.5 million raise last month and reinforces the momentum the Company has generated following its direct listing on the Nasdaq Capital Market. The Company has been winning significant recognition for its award-winning cloud-based surveillance and remote guarding platform, which delivers proactive, AI-driven solutions to combat crime, reduce losses, and standardize enterprise-wide security.

Cloudastructure’s advanced security solutions are built on a scalable cloud architecture that leverages proprietary AI and machine learning analytics to provide real-time monitoring, incident response, and business intelligence. These solutions are used across a variety of sectors, including commercial real estate, education, healthcare, and government, enabling customers to dramatically improve security outcomes while reducing total cost of ownership.

Additional details regarding this investment are available in the Company’s Form 8-K, which has been filed with the U.S. Securities and Exchange Commission (SEC).

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 AI/ML analytics and a seamless remote guarding solution. This combination enables enterprise businesses to achieve proactive, end-to-end security while benefiting from a cost-effective model that eliminates proprietary hardware, offers contract-free month-to-month pricing, and includes unlimited 24/7 support. With Cloudastructure, companies can stop crime as it happens while achieving up to a 75% lower Total Cost of Ownership than other systems.

For more information, visit https://www.cloudastructure.com/.

Cautionary Note Regarding 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