Cloudastructure Announces Partnership with Global Leader in Commercial Real Estate Services and Investments Managing Tens of Thousands of Properties Worldwide
Rhea-AI Summary
Cloudastructure (NASDAQ: CSAI) has announced a strategic partnership with a major global commercial real estate services company that manages thousands of properties worldwide. The initial rollout includes four prominent commercial buildings in downtown San Diego, where Cloudastructure's AI-powered surveillance and remote guarding solutions have replaced traditional on-site security guards, resulting in improved security coverage and cost savings.
The company's CEO, James McCormick, highlighted that Cloudastructure currently serves five of the top 10 NMHC-ranked multifamily management companies. The company maintains a 98% customer retention rate and is positioned to capitalize on the growing AI software market, which is projected to reach $134.8 billion by 2025. Additionally, over 50% of businesses are expected to transition their surveillance to the cloud by 2026.
Positive
- Partnership secured with major global real estate services company
- Successfully implemented in four commercial buildings in San Diego
- 98% customer retention rate
- Serves 5 of top 10 NMHC-ranked multifamily management companies
- Cost reduction for clients by replacing traditional security guards
Negative
- None.
News Market Reaction – CSAI
On the day this news was published, CSAI declined 24.71%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Commences roll-out with four prominent commercial buildings in San Diego
Partnership underscores the future of security technology in the rapidly growing AI market;
advanced surveillance replaces traditional guards, driving safety and savings
PALO ALTO, Ca, Jan. 31, 2025 (GLOBE NEWSWIRE) -- Cloudastructure, Inc. (Nasdaq: CSAI) (“we,” “us,” “our,” “Cloudastructure” or the “Company”), a cloud-based video surveillance platform with artificial intelligence (“AI”) and computer vision analytics, today announced a partnership with a global leader in commercial real estate services and investments that manages tens of thousands of properties worldwide. The Company has already rolled out its service to the first four properties, all prominent commercial buildings in the heart of downtown San Diego, California.
The client, a globally recognized leader in real estate with expertise spanning every dimension of the industry, sought a modern, cost-effective approach to enhance security. Cloudastructure’s AI-powered surveillance and remote guarding solutions replaced traditional on-site security, providing superior safety while driving significant cost savings. Previously, the San Diego properties relied on on-site security guards, which came with higher operational costs. By adopting Cloudastructure’s advanced technology, the client has not only reduced expenses but also improved security coverage and efficiency, creating safer, more secure environments for tenants and protecting valuable assets.
James McCormick, CEO of Cloudastructure, stated, “We are delighted to announce this collaboration with one of the most esteemed names in commercial real estate. This partnership not only highlights the unmatched value of our AI-driven solutions but also reinforces our standing as a leader in security innovation. By leveraging our cutting-edge technology, we are transforming security into a strategic asset, providing real-time surveillance that is both more effective and cost-efficient than traditional security guards. Furthermore, our impact extends well beyond this partnership. We are proud to serve five of the top 10 NMHC-ranked multifamily management companies. This milestone highlights the scalability of our business model, positioning us to deliver industry-leading security solutions to clients of all sizes, across every sector and geography.”
Cloudastructure is capitalizing on a rapidly growing market. By 2025, the AI software market is forecasted to reach
ABOUT CLOUDASTRUCTURE
Headquartered in Palo Alto, California, Cloudastructure’s advanced award-winning security platform utilizes a scalable cloud-based architecture that features cloud video surveillance with proprietary, state-of-the-art AI/ML analytics, and a seamless remote guarding solution. The combination enables enterprise businesses to achieve proactive, end-to-end security, and pairs that platform with an attractive value proposition that eschews proprietary hardware and offers contract-free, month-to-month pricing and unlimited 24/7 support. With Cloudastructure, companies can achieve unparalleled situational awareness in real time and thereby stop crime as it is happening, while simultaneously achieving up to a
Forward-Looking Statements
Certain statements in this press release may be considered forward-looking, such as statements containing estimates, projections, and other forward-looking information. Forward-looking statements are typically identified by words and phrases such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “seek,” “should,” “will,” “would,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target” or the negative of such words and other comparable terminology. However, the absence of these words does not mean that a statement is not forward-looking. Any forward-looking statements expressing an expectation or belief as to future events is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future events and involve risks, uncertainties, and other factors beyond our control. Therefore, we caution you against relying on any of these forward-looking statements. Actual outcomes and results may differ materially from what is expressed in any forward-looking statement. Except as required by applicable law, including U.S. federal securities laws, we do not intend to update any of the forward-looking statements to conform them to actual results or revised expectations.
Media Contact:
Kathleen Hannon
Sr. Communications Director
Cloudastructure, Inc.
Kathleen@cloudastructure.com.
(704) 574-3732
Investor Contacts:
Crescendo Communications, LLC
212-671-1020
CSAI@crescendo-ir.com
FAQ
What is the value of the AI software market that Cloudastructure (CSAI) is targeting by 2025?
How many properties has Cloudastructure (CSAI) implemented its security solution in San Diego?
What is Cloudastructure's (CSAI) customer retention rate in 2025?
What percentage of businesses are expected to move their surveillance to the cloud by 2026?
How many top NMHC-ranked multifamily management companies does Cloudastructure (CSAI) serve?
