VideoIQ has announced a new strategic investment by Cisco Systems into the company as well as a further round of funding. This comes after continued growth and improved results despite a tough global economy. The Series C funding totals $7,5 million.
Along with this VideoIQ announced the arrival of its new president and CEO, Ed Bednarcik. He brings a wealth of experience in strategically building companies from early-stage to large multibillion dollar market leaders. “Pairing advanced video analytics with distributed storage has allowed us to develop the most intelligent and network efficient IP-based video solution on the market,” said Bednarcik in a statement.
Speaking to Hi-Tech Security Solutions, local VideoIQ representative, Andrew Page Wood said, “This is truly great news, especially since our systems are really smart network devices. One of the best things about VideoIQ is that way it packs video surveillance into a single edge device so the next stop for us is really the network.
“The biggest challenge the channel faces deploying our systems locally lies not in the usual bandwidth, storage, set-up or analytics/detection parts – we pretty much solve all of this – but rather in configuring networks to handle data fast and efficiently so that operators can grab throughput when they really need to and centrally configure and manage them. This is particularly important since our systems are typically installed on a clients existing network rather than requiring a separate one dedicated to security video. Cisco’s product line and experience with this should really contribute.”
For more information contact VideoIQ Africa, +27 (0)82 789 2010, [email protected], www.videoiq.co.za
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