Investors greeted ShotSpotter with a warm reception on Wednesday, on its first day as a public company. After pricing the IPO at $11, the stock closed at $13.86, or up about 26 percent.
ShotSpotter notifies police departments about gun violence by using sensors that ignore ambient noise. Their sophisticated technology alerts authorities within 45 seconds of the trigger being pulled.
It’s currently used in about 90 cities, including New York, Chicago and San Francisco. ShotSpotter estimates that about 80 percent of gun violence goes unreported, and they are in the process of convincing municipalities worldwide that their technology will reduce fatalities.
According to CEO…