Former Tesla Product Leader Parag Vaish Tapped to Drive Digital Transformation at Evolv Technology

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WALTHAM, Mass.--(BUSINESS WIRE)-- Evolv Technology (NASDAQ: EVLV), the leader in AI-based weapons detection security screening, is pleased to announce the addition of Parag Vaish to the company’s executive team as chief digital product officer. Vaish brings an extensive background in technology, having led product innovation for Tesla, Microsoft, Google, Walt Disney Company and StubHub.

In his role, Vaish will report directly to Evolv Technology CEO Peter George to further drive Evolv’s leadership in the digital transformation of the physical security industry. Working closely with Evolv co-founder and chief innovation officer Mike Ellenbogen, Vaish will be responsible for developing new digital capabilities as products that will enhance the Evolv Express® screening system by deriving value from the company’s SaaS platform, as well as adding new, unique standalone capabilities to accelerate digital product offerings for Evolv’s prospects and customers.

"We are pleased to welcome Parag to Evolv," said George. "We believe Parag’s expertise identifying revolutionary digital advances will be instrumental in helping us deliver more value to customers from our digital sensor platform, Evolv Express. There has never been a more important time for organizations and enterprises to leverage the most contemporary technology to help address the unprecedented epidemic of gun violence."

“As we approach Evolv’s 10-year anniversary, the epidemic of gun violence has become even more pervasive than when we started the company. We are constantly looking for new innovative ways to create safer zones. Parag brings an impressive track record of identifying value added digital solutions that we believe will enable us to expand and augment the ways we can help make the world safer in the places we live, work, learn and play,” said Ellenbogen.

Evolv’s state-of-the-art Evolv Express screening solution uses powerful sensor technology with artificial intelligence (AI) to provide safer, more accurate threat detection at unprecedented volume and speed. It instantly distinguishes between threats and the everyday items, so people do not need to always empty pockets and bags. Unlike traditional metal detectors or their upgraded versions, the system allows integration from Evolv Express to numerous security endpoints, such as video management systems (VMS), video analytics, incident management systems and mass notification systems, all used in a multi-layered security approach intended to keep out adversaries and mitigate as much risk as possible.

“There is an important opportunity to amplify the value Evolv’s AI and machine learning is providing venues today for better safety and experience,” said Vaish. “I have spent my career applying digital innovations to enhance the way we interact with the world – working with Tesla to synergize solar and vehicle through digital products; during my time at Disney to digitally enhance guest experiences; and at Google to build a comprehensive data product to understand consumer trends on a geo-specific basis. It is critically important that we can all move through life feeling safe, with peace of mind. As a father, Evolv’s mission could not be more important to me personally. I believe Evolv is uniquely positioned to leverage its technology to help make the world a safer place and I am compelled to help work to advance our mission.”

Evolv Express weapons detection systems, which screen approximately one million people per day, are currently deployed at over 500 customer venues worldwide, including leading theme parks, sports stadiums, arenas, performing arts centers, industrial workplaces, hospitals, and schools.

About Evolv Technology

Evolv Technology (NASDAQ: EVLV) is transforming human security to make a safer, faster, and better experience for the world’s most iconic venues and companies as well as schools, hospitals, and public spaces, using industry leading artificial intelligence (AI)-powered weapons detection and analytics. Its mission is to transform security to create a safer world to work, learn, and play. Evolv has digitally transformed the gateways in places where people gather by enabling seamless integration combined with powerful analytics and insights. Evolv’s advanced systems have scanned more than 500 million people, second only to the Department of Homeland Security’s Transportation Security Administration (TSA) in the United States. Evolv has been awarded the U.S. Department of Homeland Security (DHS) SAFETY Act Designation as a Qualified Anti-Terrorism Technology (QATT) as well as the Security Industry Association (SIA) New Products and Solutions (NPS) Award in the Law Enforcement/Public Safety/Guarding Systems category. Evolv Technology®, Evolv Express®, Evolv Insights®, and Evolv Cortex AI® are registered trademarks of Evolv Technologies, Inc. in the United States and other jurisdictions. For more information, visit https://evolvtechnology.com.

Forward-looking Statements

Certain statements in this press release may constitute “forward-looking” statements and information, within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events. In some cases, these forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events or our Company’s performance and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the risk factors set forth in our Annual Report on Form 10-K for the year ended on December 31, 2022, that was filed with the SEC on March 24, 2023, as may be updated in other filings we make with the SEC, and our ability to identify and implement digital advances in our technology. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Media:
Alexandra Smith Ozerkis
aozerkis@evolvtechnology.com

Investor:
Brian Norris
bnorris@evolvtechnology.com

Source: Evolv Technology

Released May 2, 2023