IntelliVid Raises $5.53M in Series A Funding to Develop Intelligent Video Security Systems
CAMBRIDGE, Mass.
IntelliVid, a provider of intelligent video analysis software for commercial security, announces it has secured a $5.53 million Series A investment from Egan-Managed Capital, Flagship Ventures and Draper Fisher Jurvetson New England Fund. The funds will be used to continue developing the firm’s software, which protects people and assets using intelligent video analysis. IntelliVid’s board of directors will be chaired by Bill Strecker of Flagship Ventures, and will include Mike Shanahan of Egan-Managed Capital and Patrick Sobalvarro, President and CEO of IntelliVid.
“IntelliVid is well-positioned to be the breakout leader in the emerging market for intelligent video analysis,” said Strecker. “This is an exceptionally strong team addressing a huge gap in security surveillance products currently available. The large market potential makes this an attractive investment for us.”
IntelliVid Corp. was founded in 2002 at Flagship Ventures in a venture creation project led by Sobalvarro with oversight from Strecker and Roger Heinen, both managing directors at Flagship Ventures.
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