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

Sales Turnover At Anyvision on Feb 13, 2019
Anyvision raised a $43 million Series A and according to their newest investor: what you need to do is push the gas pedal and build an...
Start Up Safe Zone $150 Gunfire Detector Profile on Mar 06, 2019
While gunfire detectors have been around for years, typically they are limited to enterprise level or municipal deployments. Startup AVidea, makers...
Silicon Valley Cybersecurity Insurance Startup Coalition Profile on Mar 20, 2019
Many industry people believe cybersecurity insurance is not worth it, as the voting and debate in our Cybersecurity Insurance For Security...
Failed Integrator Rollup, Securadyne Sells to Guard Giant Allied on Apr 10, 2019
One of the most ambitious integrator rollups of the decade has reached its conclusion—selling to a mega guard company. Allied Universal has...
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...
Vidsys New President Interviewed on May 31, 2019
A decade ago, PSIM was hot with projections then of a billion dollar market by now. This has not come close to happening. However, Vidsys, one of...
Motorola Acquires Watchguard, Adds to Vigilant And Avigilon on Jul 15, 2019
2 years ago, Motorola had no position nor relevancy to video surveillance. Now, they own major video surveillance, LPR and body camera providers...
How Cobalt Robotics May Disrupt Security on Sep 13, 2019
While security robots have largely become a joke over the last few years, one organization, Cobalt Robotics, has raised $50+ million from top US...
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...
Wyze Fires Back at JCI - Your Patents Are Invalid, Pay All Of Our Costs on Nov 18, 2019
Goliath JCI targeted startup Wyze this summer alleging the fast-growing consumer startup was violating a slew of JCI's patents. Now, Wyze has...

Most Recent Industry Reports

Video Surveillance 101 Course - Last Chance on Feb 20, 2020
This is the last chance to join IPVM's first Video Surveillance 101 course, designed to help those new to the industry to quickly understand the...
Cheap Camera Problems at Night on Feb 19, 2020
Cheap cameras generally have problems at night, despite the common perception that integrated IR makes cameras mostly the same, according to new...
Milestone Launches Multiple Cloud Solutions on Feb 18, 2020
Milestone is going to the cloud, becoming one of the last prominent VMSes to do so. Milestone is clearly late but how competitive do these new...
Video Surveillance Architecture 101 on Feb 18, 2020
Video surveillance can be designed and deployed in a number of ways. This 101 examines the most common options and architectures used in...
UK Stands Behind Hikvision But Controversy Continues on Feb 18, 2020
Hikvision is exhibiting at a UK government conference for law enforcement, provoking controversy from the press, politicians, and activists due to...
IronYun AI Analytics Tested on Feb 17, 2020
Taiwan startup IronYun has raised tens of millions for its "mission to be the leading Artificial Intelligence, big data video software as a service...
Access Control ADA and Disability Laws Tutorial on Feb 17, 2020
Safe access control is paramount, especially for those with disabilities. Most countries have codes to mandate safe building access for those...
ISC West 2020 Removes China Pavilion, No Plans To Cancel Or Postpone on Feb 17, 2020
ISC West plans to go on next month, amidst concerns over coronavirus. However, the Asia / China Pavilion has been removed, show organizers...
Hanwha Wisenet X Plus PTRZ Tested on Feb 14, 2020
Hanwha has released their PTRZ camera, the Wisenet X Plus XNV-6081Z, claiming the "modular design allows for easy installation". We bought and...
PRC Warns Against China Video Surveillance Hacks, Hikvision Targeted on Feb 14, 2020
Hackers are targeting China video surveillance manufacturers and systems, according to the PRC's main cyber threat monitoring body. The hackers...