Vidsys Raises $11M in Equity Financing to Expand Global Operations
Vidsys will use the financing to support its growing international business with customer support operations and product development initiatives.
The investment will also be used for the expansion of the company's Internet of Things (IoT) and virtualized services platform applications for smart and future cities, intelligent transportation, and advanced business intelligence solutions.
VIENNA, Va. – Vidsys, a provider of enterprise Converged Security and Information Management (CSIM) software, has received an investment of $11 million led by existing investors NewSpring Capital, Atlanta Equity, Flybridge Capital Partners, and JVax Investment Group, along with new investor, Harmony Partners.
Vidsys will use the financing to support its growing international business with customer support operations and product development initiatives. The investment will also be used for the expansion of the company’s Internet of Things (IoT) and virtualized services platform applications for smart and future cities, intelligent transportation, and advanced business intelligence solutions.
“With our software platform being deployed and expanded more rapidly across multiple markets and regions, this new investment will allow us to scale the business to align more fluidly with the growing base of our customers and their key initiatives,” says James I. Chong, Vidsys CEO and founder.
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The company’s open, Web-based software platform provides the valuable intelligence for customers to cost effectively manage and protect their employees, assets and brands, says Mark Lotke, managing partner of Harmony. “The broad blue chip customer base and strong global integration partnerships are a testament to Vidsys’ best-of-breed functionality,” he adds.
Founded in 2005, Vidsys claims to have coined the market category of Physical Security Information Management or PSIM. Over the last 10 years Vidsys says it has evolved its capabilities to include converged security, as well as developing new solutions that embrace IoT and making sense of big data to create smarter, safer cities.
The Web-enabled platform, which the company bills as bringing people, process and technology together using one software, has been used in numerous large-scale events around the world ranging from marathons and international sporting events, to global conferences and summits, key dignitary protection events and safe city initiatives.
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