VidSys Secures $10 Million in Round B Funding
VidSys, the leading provider of Physical Security Information Management (PSIM) solutions for safety, security, commercial, surveillance, military and transportation organizations, recently 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.”
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, please visit www.vidsys.com