VideoIQ, a producer of intelligent all-in-one video surveillance solutions, has expanded its Series C investment round with an additional $3.5 million from its existing investors Atlas Venture, Matrix Partners and Tenaya Capital.
The incremental funds bring the total Series C round to $11 million and will be used to further support the expansion of the sales and product development teams globally, the company says.
“By expanding the Series C investment round, we are able to further accelerate our exponential growth by opening additional markets globally and launching new products faster than ever before,” said Ed Bednarcik, VideoIQ’s president and CEO.
Powered by VideoIQ’s adaptive analytics, VideoIQ’s self-calibrating iCVR all-in-one video surveillance solutions improve security by delivering superior accuracy and range. Unlike conventional IP video surveillance systems, which face bandwidth and storage challenges, VideoIQ’s iCVR onboard storage provides months of recording while eliminating the need to backhaul video to central storage servers—reducing bandwidth consumption by over 90 percent.