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Flock Safety and Homegrown have announced the launch of the Thriving Cities Fund in Dallas-Fort Worth, marking the second U.S. metro to benefit from the initiative aimed at helping local brick-and-mortar businesses expand and create jobs.
The fund, backed by a $10 million investment from Flock Safety, is managed by Homegrown and provides flexible, revenue-based growth capital to established businesses with at least two physical locations. These include restaurants, fitness studios, childcare centers, salons, and other community gathering spots that serve as neighborhood anchors.
Flock Safety, a fast-growing Atlanta-based firm founded in 2017, is a public safety technology company that provides a nationwide network of hardware and software tools to help communities prevent and solve crime. Its platform connects law enforcement, businesses, schools, and neighborhoods to deliver real-time intelligence while maintaining strict standards for privacy and data security. Flock Safety provides the technology in the city of Fort Worth's license-plate-reader cameras. The company is valued at $7.5 billion, according to PitchBook.
“Solving crime is only one step in building a better community,” said Garrett Langley, founder and CEO of Flock Safety, in a press release. “Through the Thriving Cities Fund, we’re investing in the small businesses that serve as the heart of our neighborhoods. When these businesses succeed, communities thrive, and that’s the future we want to help build.”
The fund offers nondilutive revenue-share deals with no fixed terms, personal guarantees, or upfront fees, and with capped returns. Investment amounts typically range from five to six figures and are customized for each business.
Homegrown, launched in 2023 in Atlanta, has already deployed over $8 million to open 40 new business locations nationwide, generating more than 500 jobs.
“Traditional lending options have only gotten harder for small businesses to access, especially for those with physical storefronts,” said Michael Davis, founder and CEO of Homegrown. “These entrepreneurs are the backbone of our local economies. They employ our neighbors, activate our main streets and create places where communities connect. Through the Thriving Cities Fund, we are proud to offer flexible, nondilutive capital that helps them grow without giving up ownership or dealing with super short-term, high-interest funding options.”
Atlanta was the first U.S. metro to receive investment from the Thriving Cities Fund.
Said Michael Crain, Fort Worth City Councilmember and chair of the Entrepreneurship and Innovation Committee: “I see every day how small businesses fuel our economy, create jobs, and bring unique energy to our neighborhoods. I am deeply committed to breaking down barriers by championing initiatives like the Thriving Cities Fund and doing everything in my power to help local entrepreneurs succeed. When small businesses thrive, our entire city becomes stronger and more vibrant.”
To learn more and apply, go to www.thrivingcitiesfund.com.