Ipix grabs onto capital to push into verticals

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Thursday, July 7, 2005

VIENNA, Va.--Imaging technology provider Ipix completed a private placement of stock in late June--an initiative that generated $10 million in proceeds and fuels its marketing efforts in vertical markets.
The placement was spurred by the company's interest in building its brand in the security space, specifically in sectors such as retail and government.
"We are using the funding to build out our sales and marketing in the marketplace," said Jean Watterson, vice president of marketing for Ipix.
Watterson said the company's immersive imaging technology, which displays a continuous 360-degree field of view, has generated a substantial amount of interest in the retail sector.
"Retail is a main focus and we are relatively new player in the market," she said, "but the demand and the customers we are seeing are very excited about the technology."
Watterson also said the company is looking to gain additional ground in homeland and federal security. She said one way Ipix will build its brand in new markets within the security space is by increasing its presence at industry trade shows.
"Most folks are aware of our still photography, but are not so familiar with us on the security and surveillance side," Watterson said. "A targeted marketing campaign lets folks know about our other value propositions."
Although Watterson could not share any specific goals in terms of the company's growth in vertical markets, she did say the company would like to see as much growth it can garner and will continue to seek out business opportunities in this sector.
"We don't want to be known as a security company, per se," she said. "But it is a main focus of the company and the world right now. We want to continue to be helpful in that area."