VIDSYS ANNOUNCES $10 MILLION ROUND OF FUNDING
Series
B Financing from Motorola, Inc. and IDG Ventures Boston Supports
Momentum for Newly-Established Physical Security Information Management
Market
VIENNA, Va. and MARLBOROUGH, Mass. - May 21, 2007
-VidSys, the leading provider of Physical Security Information
Management (PSIM) solutions for safety, security, commercial,
surveillance, military and transportation organizations, today
announced it has secured $10 million in Series B funding. New investor
Motorola, Inc. through Motorola Ventures, its strategic venture capital
arm, participated in the round with existing investor IDG Ventures
Boston. The funding will be used for sales, marketing and product
development initiatives to support growing customer demand in the PSIM
market.
An emerging technology category in
the Physical Security market, PSIM is the marriage of video management
for security and surveillance applications with situation management
(incident and event). This combination enables security personnel in
operations centers to more efficiently manage situations or events, and
not the underlying systems and technology. VidSys recently announced
VidShield 4.0, the most recent version of its PSIM platform, and has a
strong customer base developed through its direct and indirect sales
channels including the City of Chicago, Metropolitan Washington
Airports Authority, and Texas Department of Transportation. VidSys also
announced a new customer milestone today with the California Department
of Transportation (Caltrans) (see today’s release, “California
Department of Transportation (Caltrans) District 4 Surpasses Seven
Years of Operation Using VidSys Management Software,” for more details).
“There
is a need for a stronger convergence of physical and IT security assets
in order to provide better response to public safety incidents and
threats,” said Reese Schroeder, managing director, Motorola Ventures. “With
a proven technology and an experienced management team, VidSys is
well-positioned to help operations centers glean more intelligence from
their security technologies and existing infrastructure to improve
incident management.”
“Security
command and control centers that focus on protecting critical physical
and IT infrastructure for private enterprises as well as federal, state
and local governments are increasingly looking to PSIM solutions to
achieve true situational awareness across their organizations,” said Chuck Teubner, CEO, VidSys. “Support
by IDG Ventures and new investor Motorola further validates the PSIM
market. This new round of funding will further strengthen our delivery
of innovative new solutions that enable the convergence of physical
security networks.”
VidSys and the Emerging PSIM Market
By
enabling the integration of multiple, often siloed products and
systems, including various video protocols and formats, into a single
seamless management platform, VidSys’
VidShield allows security personnel in operations centers to better
manage, analyze and correlate data from both physical and IT security
sources to secure people, property and assets more effectively.
VidShield is a scalable, standards-based platform with an open
architecture that leverages existing technology and integrates data
from any detection, monitoring or control system. Additionally, its
hybrid design supports both analog and digital video technology and
provides automated tools to achieve real-time data analysis.
4A
International projects the overall security technologies market will
reach approximately $70 billion globally, rising 15 percent annually.
These technologies include video surveillance, detectors, alarm
monitoring equipment, fire monitoring equipment, biometrics access,
electronic surveillance, bar code scanning, RFID and armoring, among
others. The PSIM market potential is estimated at 10-15 percent of this
total number, or approximately $10 billion by 2012. It is estimated
that revenues from independent software vendors (ISVs) in the PSIM
space will begin as a small fraction of total PSIM revenue, tripling in
2008 and each year following.
“Organizations
today are actively seeking a more cohesive view of security in order to
make smarter and quicker decisions during important security events,” said Steve Hunt, founder, 4A International. “VidSys provides standards-based tools enabling faster and more effective security response.”
About Motorola
Motorola
is known around the world for innovation and leadership in wireless and
broadband communications. Inspired by our vision of seamless mobility,
the people of Motorola are committed to helping you connect simply and
seamlessly to the people, information, and entertainment that you want
and need. We do this by designing and delivering "must have" products,
"must do" experiences and powerful networks -- along with a full
complement of support services. A Fortune 100 company with global
presence and impact, Motorola had sales of US $42.9 billion in 2006.
For more information about our company, our people and our innovations,
please visit http://www.Motorola.com
About IDG Ventures Boston
IDG
Ventures Boston is an early-stage venture capital firm that enables
entrepreneurs to grow innovative, global companies. With $280 million
under management, the firm is focused on investing in consumer, life
sciences, and information technology companies and is led by a team
with more than half a century of combined experience in venture
capital. IDG Ventures Boston is affiliated with the IDG Ventures
network of funds, a global network of independently managed funds
spanning Asia and North America which manages $1.5 billion
About VidSys
VidSys
is a leading provider of Physical Security Information Management
(PSIM) solutions and the only operations center software company that
provides truly collaborative situational awareness for safety,
security, military and transportation organizations. The VidSys
platform is based on an open, hybrid architecture that integrates data
from any video source, as well as any detection, monitoring or control
system, allowing public safety and security personnel to focus on
awareness, assessment and action. Founded in 2005, the company’s
solutions are deployed in transportation, federal government,
enterprise and state and local government applications, including some
of the largest state and city command and control centers in the U.S.
Privately funded by IDG Ventures Boston, the company has offices in
Marlborough, Massachusetts and Vienna, Virginia. For more information,
visit www.vidsys.com.
Media contact:
Lorena Magali
703.883.3737
magalil@vidsys.com
Liz Campbell
617.758.4149
vidsys@famapr.com