Milestone Systems, a manufacturer of IP video surveillance software, has received a $27 million investment from European venture capital firm Index Ventures. This is the first external investment into Milestone after nearly a decade in business, and marks the latest investment from Index Ventures.
Milestone Systems has sales offices in nine countries with plans to open additional locations to support a number of significant partnerships. The company will also use the funding to continue development of its technology platform and spearhead new business initiatives.
“Milestone has consistently grown 40-60 percent per year and we are optimistic about the IP video surveillance market as the security sector continues to move from analog to network technology,” says Lars Thinggaard, president and CEO, Milestone Systems. “The funding from Index supports our expansion plans and allows us to further assert our position as a leader in the open platform IP video surveillance industry.”
