ATD waves at the camera
PRINCETON, N.J.--As the run-up to product release nears, Automated Threat Detection banked $1.6 million in a second round of financing this month.
Individual investors provided the money that will be used for sales and marketing efforts. Previously, the company raised an undisclosed amount of funding from individuals and the New Jersey Economic Development Authority in its first round.
The company expects to release a video surveillance package, comprised of cameras, and behavioral analysis and object tracking software, by the first quarter of next year. The company designed the products for use in outdoor surroundings.
ATD has focused on developing products since it was founded in October 2003. These hardware and software products are designed to work in environments such as airports and seaports that require monitoring of long distances and wide-open spaces.
By early next year, the company expects to work with the reseller chain, rather than go directly to the end user, according to Richard Patti, vice president of marketing at ATD. "We will be following that same method, working with distributors and integrators," he said.
There are a number of companies already positioned in this segment of the security market, including Cernium, ObjectVideo, iOmniscient, IntelliVid and Vidient. However, Patti said ATD's products satisfy a need in the market and could lead to partnerships with the existing players; but no such relationships have been announced to date.
"We do believe the space supports a number of vendors in this market," he said. "We're working on the hardware side to specifically work in the outdoor space that could be complimentary to others in the space."