Security Equity Partners announced a new funding program specifically designed for Videofied dealers that pays a higher multiple for Videofied accounts.
The Security Equity Partners funding program targets the typical alarm dealer that has their accounts monitored by third party central stations. James Miller and his team at Security Equity Partners partnered with selected central stations that are leaders in video verification monitoring and Videofied.
Rod Boston of Security Equity Partners explained, “Security Equity Partners will pay the installer a 24 multiple on a 36 month contract or a 31 multiple on a 48 month contract. We have a flexible program that can be tailored to the installer’s needs of number of months and multiples. After the specified period, the account reverts back to the alarm dealer at full value. In fact, the extra multiple happens because with Videofied, the account reverts back to the dealer a month earlier than for a traditional alarm.”
Keith Jentoft, president of Videofied shared, “We are excited to see financing programs acknowledge the added value of video verification… It is kind of a ‘Have your cake and eat it too’ funding program where the dealer will own their accounts and build the value of their business over time.”
The Security Equity Partners’ funding program builds upon the value of priority response. Priority response describes how law enforcement gives higher priority response to alarms where the central station reviews the video clip of what caused the alarm as a remote eyewitness. For example, the official alarm response policy on the website of the Los Angeles Police Dept. states, “A verified burglar alarm shall be dispatched as a high priority call.” Miller stated, “Faster police response and smartphone interactivity with remote arm/disarm and look-in make a Videofied account more valuable, value that makes the accounts worth a higher multiple.”
Miller added, “Videofied wireless video alarm systems are moving indoors to the mainstream alarm dealers. We want to provide financing so that the alarm companies can fund their Videofied alarm installations. Our program is unique because we understand the value of a video verified account and are willing to pay a higher multiple — and we return the account to the dealer at full value.”