3VR Secures $17M in Funding to Expand Technology
SAN FRANCISCO — Several technology venture funds have invested $17 million in new financing for intelligent surveillance and search solutions provider 3VR Security Inc. The round, which was led by technology investment firm Menlo Ventures, will fuel 3VR’s continued development of its intelligent video search and analytics technologies, as well as its expansion into global markets.
“3VR offers some of the most sophisticated and disruptive technology in the video market today,” says Sonja Hoel Perkins, managing director, Menlo Ventures. “The combination of intelligent analytics and patented search engine technology enables 3VR to deliver immediate and actionable insights that drive ROI for companies of all shapes and sizes.”
Additionally, previous investors in the company, Kleiner Perkins Caufield & Byers and DAG Ventures, have reinvested in the company. The round also includes new investment from Focus Ventures, a Palo Alto-based firm specializing in expansion stage companies.
“2010 has been a record year for 3VR,” says 3VR CEO Al Shipp. “Our customers are reporting unprecedented results with our products and we’re continuing to grow rapidly — in terms of customers, but also the number of technology and channel partnerships we’re developing worldwide. We’re looking to 2011 to continue this rapid growth.”
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