BRS Labs Raises $18 MillionBy John Honovich, Published May 14, 2015, 12:00am EDT
Let the money flow.
After a few years of relative quiet, BRS Labs is back fund raising in a big way, with ~$18 million coming in.
We break down the raise and the impact in this note.
BRS Labs has raised ~$18 million, split amongst 4 SEC Filings, with a minimum investment of $4,000 with 41, 41, 11 and 79 investors listed on the 4 respective filings.
The company has been promising to revolutionize video surveillance / analytics for 7 years (see our first coverage back then).
In the interim, the company has raised way more than $100 million. However, their actual market success and financial performance has lagged their own expectation. In 2014, the company has said they were going to go public this year (2015) but instead, there is this fund raising now.
BRS Labs appears to be focusing more on SCADA systems and recently sold some of their video analytic patents to Avigilon. Their most recent VP of Sales, a security industry veteran, resigned and went to IDIS.
BRS Labs has never really delivered the disruption they aimed in video surveillance but with this fund raising, they appear to have room to try more things and expand further.
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