Fourth funding round is tops for Cernium
By Chelsie Woods
Updated Thu November 3, 2005
RESTON, Va.--Intelligent video systems company Cernium recently received its largest round of funding since its inception in 2001, with a $7.5 million investment.
The funding, led by Lurie Investments, will finance marketing and sales efforts. This marks Cernium's fourth round of funding.
"We're investing this new capital to build up Cernium's marketing and sales capabilities in specific vertical markets," explained Sean Patty, senior vice president of
Cernium.
One of those verticals is the federal government market. Cernium opened a federal systems support office in Alexandria, Va., in early 2005 and in mid-October announced plans to relocate its headquarters to Reston, Va., from St. Louis, Mo.
The company also appointed a new president and chief executive officer, Craig Chambers, who previously headed up Pyramid Vision.
In four years, Cernium raised $15 million in funding.
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