More money for VideoIQ
VideoIQ yesterday announced it received $3.5 in funding from existing investors Atlas Venture, Matrix Partners and Tenaya Capital.
This is an expansion of a Series C funding round. In September, the company got $7.5 million in September from the above investors and another existing investor, Cisco.
Also in September, VideoIQ named Ed Bednarcik as its new CEO. Bednarchik, who is known for readying companies for IPOs, replaced Scott Schnell.
The company, which makes IP cameras and encoders with on-board storage and built-in self-calibrating analytics, said funding will be used to expand sales and product development teams. It also announced "record growth" over the past year. I’m currently enroute from the ESI Forum in Dallas to Maine, but am looking forward to getting more details from Ed Bednarcik during an interview tomorrow. I’ll have more on this deal, and the ESI Forum, in stories later this week.