$10M fuels VidSys
By SSN Staff
Updated Thu May 24, 2007
VIENNA, Va.--VidSys, a provider of physical security information management solutions, announced on May 21 that it had secured $10M in Series B funding. New investor Motorola participated in the round with IDG Ventures Boston.
The funding will be used for sales, marketing and product development initiatives to support growing customer demand in the physical security information management market, an emerging technology category in the physical security market.
"Support by IDG Ventures and Motorola further validates the PSIM market," said Chuck Tuebner, chief executive officer of VidSys, in a provided release.
Reese Schroeder, managing director, Motorola Ventures, said in a provided statement, "With proven technology and an experienced management team, VidSys is well-positioned to help operations centers glean more intelligence from their security technologies and existing infrastructure to improve incident management."
PSIM combines video management for security and surveillance applications with situation management. This fusion allows security staff in operations centers to manage situations or events, but not the underlying systems and technology. VidSys recently announced VidShield 4.0, the most recent version of its PSIM platform, and includes among its customers the City of Chicago, Caltrans, Metropolitan Washington Airports Authority, and the Texas Department of Transportation.
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