Black Widow Secures $5M+ To Expand Product And Infrastructure
Auto imaging technology leader Black Widow secures over $5M in funding to expand product offerings and technology infrastructure
St. Louis based imaging company is upgrading solutions to enhance condition reports and to improve trust and assurance for online transactions
St Louis based, automated imaging company Black Widow has recently secured an infusion of cash that will help the company upgrade its imaging technology, expand its workforce, and meet inventory demands. Since the advent of the COVID-19 Pandemic, demand for digital imaging services has soared. Black Widow offers auto auctions and dealers a drive-through camera system that captures images and 360-degree virtual tours within seconds.
The company recently secured a third round of private equity financing totaling $1.5 million, adding to the $3.5 million it raised just under a year ago from private investors and family offices. The clarity of images is often the centerpiece of assurance and trust when transacting online and is a critical component of condition reports. Black Widow will use the financing to “upgrade imaging technology to its new 4K system and to meet inventory demands” said Jason Hauk, CEO, Black Widow. “This funding supports another chapter in the growth and innovation of Black Widow. Auctions and dealers are increasingly buying remotely and online. Clear, consistent and reliable imaging of the inventory they are purchasing is critical for auctions and dealers to feel assured of what they are buying.” added Hauk.
“Clear, consistent and reliable imaging of the inventory they are purchasing is critical for auctions and dealers to feel assured of what they are buying.”
Black Widow provides an imaging system capable of capturing high quality images in seconds. Images are uploaded to an auction or dealer’s software allowing them to market faster and transact with their customers with a higher level of assurance. Current image capturing mostly involves a paid photographer using a smartphone which can often produce inconsistent, poorly lit, weather impacting lower quality images. Black Widow images are high quality in that they are captured with consistent angles, lighting and clarity. Black Widow’s speed in capturing and uploading images is also more efficient than the labor-intensive processes that is inherent with using a smartphone. Black Widow recently recruited former ADESA technology leader Chris Dillow as its Chief Technology Officer. Dillow is ensuring that Black Widow’s Information Systems continue to scale with the company’s rapid growth in the automotive remarketing space. Through high end image technology, the company is focused on helping auctions and dealers become increasingly more efficient while enhancing the quality, consistency and timeliness of the online experience.
About Black Widow Headquartered in O’Fallon, Missouri, Black Widow offers and installs a unique drive-thru camera system that blends high quality images and 360-degree virtual tours for a complete unit imaging process. With a total process time of 30 seconds or less, Black Widow captures consistent high-quality imaging, without human interference, reducing labor costs while increasing the efficiency of capture and use of the images. The software’s instant uploading capabilities allow dealers and auction to faster market their inventories.
For more information visit: blackwidowimaging.com