Evolv Technologies Holdings, Inc.

Evolv Technologies Holdings, Inc., formed in 2021, is a security technology company that provides AI-powered screening solutions. The company aims to create safer environments while maintaining efficient visitor flow and a positive visitor experience. Evolv serves customers in education, healthcare, sports, live entertainment, tourist attractions, houses of worship, and industrial workplaces. Its solutions are delivered through a Security-as-a-Service model, integrating a proprietary sensor platform, AI-powered software, cloud connectivity, and ongoing services. Evolv offers two sales models: a pure subscription model and a purchase subscription model, both requiring hardware and an active, connected software subscription. The company's hardware platforms, Evolv Express® and Evolv eXpedite™, are designed for high-throughput security environments and operate exclusively with Evolv's proprietary software and cloud services. These products, when deployed together, are designed to support improved operational efficiency through better threat identification and alarm performance. Evolv's platform was designed around AI operating in physical environments, and its AI-powered software and services are central to the platform's performance and long-term value. The systems generate substantial volumes of anonymized screening data related to the movement of people and bags through physical spaces from continuous operation across a large and growing installed base.