
Revenue
$285.00M
2024
Growth Rate (y/y)
70%
2024
Funding
$686.16M
2024
Revenue
Sacra estimates Flock Safety hit $285M in annually recurring revenue (ARR) at the end of 2024, representing about 70% year-over-year growth from $167M in 2023.
The company operates on a public safety-as-a-service model, charging $2,400 annually per camera with a one-time $350 installation fee. With over 2,500 communities served across 42 states, including 2,000+ law enforcement agencies, Flock has rapidly expanded from its initial HOA-focused customer base.
HOAs still represent approximately 40% of revenue, while law enforcement agencies now constitute the majority. The company's February 2022 Series E valued it at $3.5 billion, implying a 36-73x ARR multiple based on estimated revenue ranges at the time of $48-96M.
Flock's competitive pricing strategy - offering systems at roughly one-tenth the cost of incumbent solutions - has enabled rapid market penetration. The company's network effect strengthens as more devices are deployed, with shared data across jurisdictions increasing product value. Recent expansion into adjacent products like gunshot detection systems provides additional revenue streams beyond core ALPR technology.
Valuation
Flock Safety recently raised $275M in funding at a $7.5B valuation in an investment led by Andreessen Horowitz, bringing its total amount of funding raised to about $658M.
Based on $300M in ARR as of March 2025, this round would have valued the company at about a 25x forward revenue multiple.
Product
Flock Safety was founded in 2017 by Garrett Langley and Matt Feury after Langley experienced a property crime in Atlanta where police were unable to help due to lack of evidence. A conversation with law enforcement revealed that license plate information was crucial for solving crimes, but existing license plate readers were prohibitively expensive.
Flock Safety found product-market fit as an AI-powered surveillance system for homeowners associations (HOAs), offering automated license plate recognition cameras at a fraction of the cost of existing solutions. The company later expanded to serve law enforcement agencies, which now represent the majority of their customers.
The core product uses computer vision cameras to capture vehicle "fingerprints" - including make, model, color, and unique features like bumper stickers or roof racks - not just license plates. When a crime occurs, law enforcement can search the system using various vehicle characteristics, even without a complete license plate number. The cameras are solar-powered and LTE-enabled, requiring minimal infrastructure.
Flock's system includes a centralized database called "Flock OS" that allows different law enforcement agencies to share data across jurisdictions. The company has expanded its offering to include gunshot detection through its Raven product, which works in conjunction with the license plate readers to provide comprehensive surveillance coverage.
Business Model
Flock Safety is a public safety technology company that sells AI-powered license plate recognition cameras and software on a subscription basis to law enforcement agencies, homeowners associations, and businesses. The company operates on a "safety-as-a-service" model, charging $2,500 annually per camera plus a $300 one-time installation fee.
The subscription includes comprehensive services: ongoing maintenance, software updates, unlimited user access, footage hosting, and customer support. Their AI-powered cameras capture vehicle "fingerprints" including make, model, color, and distinguishing features beyond just license plates, storing data for 30 days before deletion.
The company's business model benefits from strong network effects - as more cameras are deployed across jurisdictions, the system becomes more valuable to law enforcement agencies who can access a broader network of surveillance data. Flock Safety initially focused on HOAs (which still represent 40% of business) before expanding to law enforcement agencies, demonstrating effective land-and-expand dynamics across customer segments.
Their competitive advantage stems from offering cameras at significantly lower costs than incumbents (up to 20x more coverage for the same budget), while providing superior AI capabilities and cross-jurisdiction data sharing through their "TALON" network that connects over 700 cities.