NYC investment firm acquires controlling interest in Reston tech startup
Tracker Capital Management LLC invests in Presage Security
New York City-based Tracker Capital Management LLC announced Monday that one of its affiliates has acquired a controlling interest in Reston-based tech startup Presage Security.
Financial terms of the transaction were not disclosed.
Presage works to apply machine learning and advanced mathematical processing to video imagery analysis for health care, security and authenticity verification.
“Tracker Capital’s investment and partnership will significantly enhance our ability to deliver innovative solutions to our customer base,” Presage founder and CEO Mark Oliver said in a statement. “Tracker Capital brings extensive expertise in our target market segments and together, we will be able to successfully scale our enterprise to meet the growing needs of our customers.”
Tracker Capital invests in emerging tech companies at various stages in several markets.
“With its innovative technology and widespread applicability, we believe there are significant opportunities ahead for the company,” Tracker Capital Managing Director David Robertson said in a statement. “We look forward to working with Mark and the team to help Presage achieve its vision as the market leader in video analysis.”
Lowenstein and Sandler LLP served as legal adviser to Tracker Capital for the transaction.