3VR Significant Layoffs

By: Carlton Purvis, Published on Jun 28, 2013

3VR has laid off 15 employees, five of which are from its sales team, IPVM has learned. This leaves the company with a skeleton crew of three sales reps to cover the entire United States, according to a source with knowledge of the layoffs. 

On Thursday a current employee confirmed that there had been some staff changes, saying the person with the most information on the topic would be Jim Underwood, 3VR's Vice President of Worldwide Sales.

However, another source noted, "He may be harder to get a hold of because now he's got to figure out what he's going to do now with 50 percent less. How are you going to generate leads for the channel if you don't have anyone doing lead generation anymore?"

We contacted 3VR to discuss the changes and the company's future plans, but calls and emails to its corporate office and public relations firm have not been returned.

Multiple sources say employees received an email a day prior to the layoffs announcing a meeting about restructuring. All sources speculated that there were upcoming plans for an acquisition. 

"I think what they may be doing is lining themselves up for a quick sale. They've taken in more funding than any company in the history of CCTV and still aren't profitable. I think the board has asked them to reduce their headcount to free up all that cash and kind of extend the runway a little bit longer," one said. The company has not raised the most money, but it has raised more than $50 million in its 11 years, which is significant for a surveillance company. Additionally, its performance has been above average compared to video analytic companies in a space where many have struggled to be successful. However, the company has never come close to fulfilling its original ambitions to become 'Google for Surveillance'.

Thursday Meeting

In Thursday's meeting the company's CEO officially announced the layoffs, said the company will scale back operations in the Midwest and that it would only have one sales rep per region (a total of four), according to sources. There was no mention of an acquisition. 

Recent PR Campaigns

3VR's most recent PR blitz involved numerous interviews with major media organizations after the Boston Bombing. 3VR was cited in articles in the New York Times, USAToday and CNET about its facial recognition technology saying it could cut investigation time from weeks to hours. But it seems the blitz did little to generate enough interest in the company to change its trajectory.

These changes lead to many questions about 3VR's future the future of similar companies. We will update this post as we receive more information. 

1 report cite this report:

3VR Stays Alive With $8 Million Financing on Jan 23, 2015
Now 13 years old, 3VR is the last of a generation of the hyped video analytic startups to find an exit. And with a new $8 million financing, 3VR...
Comments (6) : Members only. Login. or Join.

Related Reports

Verkada Lead Investor’s Fundamental Errors on Feb 05, 2020
The man behind Verkada’s stunning $1.6 billion valuation, Aydin Senkut, has been talking up many fundamental errors he made in the...
Verkada Paying $100 For Referrals Just To Demo on Jan 22, 2020
Some companies pay for referrals when the referral becomes a customer. Verkada is taking it to the next level - paying $100 referrals fees simply...
"Good Market, Bad Business Models" - Residential Security on Dec 11, 2019
Industry banker John Mack, at his company's annual event, took aim squarely at the problems in the residential security...
Struggling Arcules Changes Chief Revenue Officer on Oct 29, 2019
Canon / Milestone spinout Arcules has struggled, now changing their Chief Revenue Officer, just a year after he came on board. The issue is not...
UTC Really Screwed Up The Interlogix Shut Down on Sep 27, 2019
UTC has made many mistakes in security over the years, however, the shutting down of Interlogix is one of the biggest screwups in industry history....
Schmode is Back, Aims To Turn Boulder AI Into Giant on Sep 16, 2019
One of the most influential and controversial executives in the past decade is back. Bryan Schmode ascended and drove the hypergrowth of Avigilon...
How To Quickly Research An Unknown Company on Jul 23, 2019
There are hundreds of companies in the physical security markets, ranging from a flood of new startups to small companies that may or may not be...
Pelco Sold Off, Now Independent on May 28, 2019
Pelco has been sold off by Schneider Electric, completing Schneider's terrible tenure, but giving Pelco a chance at life. IPVM spoke with...
Verkada Salesman: IPVM "Stuck In A The Stone Age" on Apr 25, 2019
Verkada is 'tackling dinosaurs' and battling those, like IPVM, who are 'stuck in a the stone age'. Verkada's recent sales recruiting promotion...
Securadyne CEO: IPVM 'Entertaining For An Ignorant Few' on Apr 16, 2019
Securadyne's CEO Carey Boethel is unhappy with IPVM's report - Failed Integrator Rollup, Securadyne Sells to Guard Giant Allied. Indeed, he...

Most Recent Industry Reports

USA's Feevr Thermal Temperature System Examined on Mar 31, 2020
This US company has burst on to the scene, brashly naming itself 'feevr' and branding itself as a "COVID 19 - AI BASED NON CONTACT THERMAL...
JCI Coronavirus Cuts on Mar 31, 2020
JCI has made coronavirus cuts, the company told employees in an email that IPVM has reviewed. Inside this note, we examine the cuts made, the...
Add Door Operators To Fight Coronavirus on Mar 31, 2020
IPVM recommends that integrators advocate and end-users consider adding door operators to fight the spread of coronavirus. This delivers...
Video Surveillance Business 101 on Mar 30, 2020
This report explains the fundamental elements of the video surveillance business for those new to the industry. This is part of our Video...
FDA Gives Guidance on 'Coronavirus' Thermal Fever Detection Systems on Mar 30, 2020
The US FDA has given IPVM guidance on the use of thermal fever detection systems being marketed for coronavirus, as an explosion of such devices...
Worsen: Integrators Hit Even Harder By Coronavirus on Mar 30, 2020
Integrator's problems have worsened over the past 2 weeks, according to new IPVM survey results. Inside this report, we share statistics and...
Pivot3 Mass Layoffs on Mar 27, 2020
Pivot3 has conducted mass layoffs, the culmination of grand hopes, a quarter of a billion dollars in VC funding, and multiple failures to gain...
Athena CEO Criticizes 'Deplorable' 'Nitpicking', IPVM Refutes on Mar 27, 2020
UPDATE: NBC News Report Cites IPVM On Coronavirus 'Fever Detection' Cameras Athena Security's CEO Lisa Falzone has strongly objected to IPVM's...
Hikvision Admits Sanctions Harming Its Financial Performance on Mar 27, 2020
While Hikvision initially downplayed being sanctioned for human rights abuses, the company is now admitting a significant impact in a new PRC...