Why Pelion Venture Partners invested in LiveView Technologies
For 36 years, Pelion Venture Partners has championed force-of-nature founders who revolutionize or create new industries. LiveView Technologies (LVT) is a prime example of this: a bootstrapped, profitable-from-the-start business led by humble, visionary industry veterans who are developing groundbreaking technology with a global impact. Pelion backed LVT alongside local funds Sorenson Capital, The Larry H. Miller Company and New York City-based fund Lead Edge Capital.
Based in American Fork, Utah, LVT’s cloud-based platform offers cellular-connected live video recording with AI detection, all rapidly deployed. LVT boasts the most advanced safety and security system on the market. Wherever there is an LVT Live Unit, that location is safer and more secure.
Emergency managers utilize LVT’s Live Units for real-time flood monitoring due to record snowpack. The Utah Department of Transportation (UDOT) efficiently dispatches snowplows and provides commuters with vital traffic information. Numerous states, global retail giants, utilities and construction companies use LVT for safety and security, preventing crime and protecting citizens, employees and customers.
In 2005, Ryan Porter and Bob Brenner co-founded LVT, creating a solution for construction managers to oversee job sites remotely through a live feed. The duo swiftly began “digging holes and setting poles,” installing livestreaming cameras at construction sites across the United States.
In 2007, UDOT asked if the team could provide wireless live feeds in remote areas. Despite not yet knowing how to deliver wireless technology, Ryan and Bob told UDOT yes. LVT deployed five test locations powered by solar. Within one month, UDOT expanded to 17 more locations. Other states soon followed, and demand skyrocketed.
In 2010, Ryan and Bob brought on two more partners: Steve Lindsey and David Studdert. By 2012, the LVT team had built their own edge controller and were some of the first to use cellular data to manage wireless IoT devices and remote sensors.
Contrary to the adage, “If you’ve launched a perfect product, you’ve launched too late,” the team intentionally spent years innovating their security platform, finally debuting LVT’s complete solution in 2017 at a tradeshow. Their first visitor, a global retail executive, placed an initial order of 176 units. This sparked LVT’s explosive growth, with an average year-over-year increase in annual recurring revenue exceeding 120 percent.
In 2020, the LVT team accepted venture capital—not to cover losses but to grow faster. The founders and their employees embody a gritty, bootstrapped spirit that has created remarkable outcomes. LVT is forecasted to hit 600 employees by the end of 2023. At Pelion, we are honored to play a small role in this inspiring narrative that underscores the importance of excellent entrepreneurs, the power of compounding generational innovation, and how one company made it their mission to make the world a safer place.