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Thursday, Jan 26, 2023

Titan Lands Hefty Security Deal

App developer Titan Health & Security Technologies Inc.’s new contract with a global security services firm has propelled the Newport Beach-based startup into the nation’s upper tier of emergency communication providers.

Under the deal, New York-based Titan Global LLC—which isn’t affiliated with Titan Health—will roll out the Titan HST communications system to its security workforce and tens of millions of customers, including several high-profile buildings and venues across the Big Apple.

The value of the multiyear contract is at least $300 million but could escalate based on the number and types of Titan Global customers, among other factors.

“If these customers are more heavily weighted toward private sector clients, the value of the contract will actually be $800 million to $900 million on the high end,” Titan HST founder Vic Merjanian told the Business Journal in an exclusive interview last week.

Titan HST was launched in 2012. Titan Global was established in 2006 by former military and law enforcement personnel and experts.

Titan Global customers include many of New York’s most iconic landmarks and attractions, as well as professional sports franchises, though it won’t disclose them publicly for security reasons.

The company provides security and threat assessments, emergency management planning and response, investigative services, special operations, and ongoing training and education, among other offerings. The firm provides VIP protection for some of Hollywood’s biggest stars and handled similar work in 2016 and 2017 for every U.S. presidential candidate visiting New York and the Hamptons.

Deploying the HST communication system to Titan Global’s vast customer base should be seamless, according to Merjanian, one of five recipients of the Business Journal’s 17th annual Excellence in Entrepreneurship Awards last month.

Titan Global customers will receive an email that will outline services, such as emergency text messaging. If they download the accompanying app, they can report emergencies and access advanced features, such as real-time language translation, a key function in hospitality settings.

“You’re now eliminating a barrier to communication,” Merjanian said. “When you’ve got minutes to create any sort of resolution, this becomes very important, very quickly.”

Languages include English, Spanish, French, Chinese, Japanese, Korean, Vietnamese and Arabic.

The 911 app system, which Titan HST launched last year, allows users to broadcast local emergency alerts, lockdowns, safety status, and location to law enforcement, campus administrators or private businesses in its network.

Users and emergency personnel can instantly communicate relevant information, including GPS coordinates, text, audio, photos and video, as well as classify the type of emergency.

Administrators and emergency responders can survey communities for safety and location, and provide access to potential life-saving digital resources, such as CPR training videos and site maps. They can also view real-time crowdsourced data in maps and through augmented reality, improving situational awareness.

More Features

Titan HST, which charges a monthly user fee, is rolling out two new features to improve communication and geolocation. The first is mesh networking, which allows devices to talk to each other, even when networks and cellular towers are down or destroyed, Wi-Fi interrupted, or power out. The second is beacons, or Bluetooth-powered sensors, that can identify the location of an electronic device within a range of tens of feet, ideal in active-shooter incidents and disasters, such as fires and earthquakes, allowing emergency personnel to quickly deploy to a pinpointed area, even when GPS is unable to provide location data, according to Merjanian.

Titan Global plans to deploy the HST system in its active-shooter training drills that teach clients to best recognize and notify proper security staff of potential workplace violence, terrorist threats and associated risks.

Increased Need

Mass shootings in the U.S. have already surpassed 60 this year, according to the Washington, D.C.-based Gun Violence Archive. More than half—33—have been school shootings, a pace of one every three days, according to the latest statistics compiled by Everytown.org.

Most shooting incidents conclude before law enforcement arrives to the scene. In 160 active-shooter incidents chronicled by the FBI between 2000 and 2013, 60% ended before police arrived.

“People have quickly realized that they have no emergency plans, or the emergency systems they have are decades old,” said Merjanian, a Corona del Mar native and attorney by training. “The frequency of these incidents now raises the bar for what a reasonably prudent business or organization is expected to do.”

Titan HST services, which were used more than 18 million times last year in emergencies across the country, were designed to meet rising demand while narrowing a technology gap: The vast majority of law enforcement departments and other first responders can’t receive texts, photos and videos in real time due to lack of infrastructure and upgrades.

Meanwhile, product sales and services in the public safety and security markets are projected to jump from $247 billion in 2016 to $456 billion by 2021, according to search firm MarketsandMarkets. Titan HST is generating revenues in the millions, according to Merjanian, who declined to disclose specific financials for competitive reasons.

Future Growth

Titan HST, which employs about 30, has faced a deep backlog for several months in the face of surging demand.

The new contract, according to Merjanian, won’t prevent the company from seeking additional capital to boost hiring, develop new patent-pending features and expand operations, potentially including an East Coast office.

It’s raised $2.2 million in seed funding.

The landmark deal is just one of many Titan HST will close in coming months, Merjanian said.

“We have some very, very large high-profile contracts, and this one with Titan Global is just one.”

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