VideoIQ Expands Series C with Additional $3.5 Million
BEDFORD, Mass., Jan. 10, 2012 /PRNewswire via COMTEX/ --
VideoIQ, the recognized leader in intelligent all-in-one video surveillance solutions, today announced that is 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 award winning 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 significant 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."
About VideoIQVideoIQ provides the most effective all-in-one intelligent video surveillance solutions available on the market that are both simple to install and easy to use. Powered by full 1080p high-definition self-calibrating analytics, VideoIQ's iCVR cameras and encoders deliver superior real-time threat detection, reduce network traffic by over 90% and eliminate the need for central servers. With the only 100% self calibrating analytics and up to 750GB of full onboard NVR storage, VideoIQ's all-in-one surveillance solutions provide better protection while dramatically simplifying installation and infrastructure. The result is an incredibly powerful video surveillance system with a significantly lower total cost of ownership than traditional systems. Learn more at www.videoiq.com, or follow us on Twitter @videoiq.
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