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NEWSWIRE
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VideoIQ gets $10m from Lehman Bros. and others |
07.10.2008 
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WALTHAM, Mass.--VideoIQ announced this week $10 million in series B funding, led by Lehman Brothers Venture Partners, with participation from existing investors Matrix Partners and Atlas Venture. As part of the deal, Brian Paul, a partner at Lehman Brothers Venture Partners, will join VideoIQ's board of directors.
In a prepared statement, Paul said he believes VideoIQ--with a signature camera, the iCVR, that offers on-board analytics and storage--is changing the security industry. "It is revolutionizing the industry by enabling companies of all sizes to cost-effectively implement intelligent video surveillance, in which analytics is not just an 'add on' but rather the foundation that drives the benefits of the entire system."
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VideoIQ management said it would be using the new investment to fuel market expansion and product development.
For more on this story, see the August issue of Security Systems News.
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