NASHVILLE, Tenn. – Smartvue Corp., a provider of cloud-based video surveillance technology, announced it has secured $15 million in financing in support of growth initiatives to scale operations and systems, as well as drive continued development of its comprehensive patent portfolio.
The company, based here, secured the financing through funds managed by affiliates of Fortress Investment Group, a diversified global investment firm with approximately $67.5 billion in assets under management as of Dec. 31, 2014.
“This new financing supports the current opportunities we have with Internet service providers, cable companies, telcos, IoT device companies and cloud storage providers to deliver globally scalable and secure video surveillance capture, storage, management and distribution,” says Martin Renkis, founder and CEO, Smartvue Corp.
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The company says its recent growth has been driven by increased demand for video surveillance services in both the commercial and residential markets, as well as opportunities to provide these services embedded into IoT devices such as televisions, game consoles, point of sale systems and home automation solutions.
“We have developed a comprehensive technology platform to provide global video services for IoT companies,” says Toby Cahoon, CTO, Smartvue. “Our systems enable these companies to quickly and cost-effectively embed video services into almost any device and generate new value for their customers, creating more ‘sticky’ customer relationships and delivering new revenue streams for themselves.”
