VideoIQ Expands Series C With $3.5 Million …Total round at $11 million, total invested at $35 million
This is a Press Release edited by StorageNewsletter.com on 2012.01.12
VideoIQ, in intelligent all-in-one video surveillance solutions, has expanded its Series C investment round with an additional $3.5 million from its existing investors Atlas Venture, Matrix Partners and Tenaya Capital.
The incremental funds bring the total Series C round to $11M and will be used to further support the expansion of the sales and product development teams globally.
Powered by VideoIQ's adaptive analytics, VideoIQ's self-calibrating iCVR all-in-one video surveillance solutions improve security by delivering superior accuracy and range. Unlike conventional IP video surveillance systems, which face bandwidth and storage challenges, VideoIQ's iCVR onboard storage provides months of recording while eliminating the need to backhaul video to central storage servers - reducing bandwidth consumption by over 90 percent.
"Whether customers are protecting high-value assets or looking to simplify multi-site deployments, our self-calibrating all-in-one video surveillance solutions are the most effective and cost-efficient on the market right now and we need to grow our sales and development teams to meet this demand," said Ed Bednarcik, president and CEO of VideoIQ. "By expanding the Series C investment round, we are able to further accelerate our exponential growth by opening additional markets globally and launching new products faster than ever before."