Details Disclosed on Funding, Sales and PricingBy: John Honovich, Published on Oct 19, 2009
BRS Labs has disclosed a number of details on their sources of funding, sales levels and product pricing. BRS is a company we criticized for the risk and level of information not disclosed on basic and commonly shared metrics.
In an interview with the Houston Business Journal, BRS makes the following statements:
- Their most recent round of $12 Million USD was raised from 25 investors (average $500,000 investment), half being repeat investors.
- They have over 50 total investors. A boutique Midwest investment firm, David A. Noyes, has facilitated many of these investors.
- BRS Labs now is interested in raising institutional money.
- BRS Labs claims $10 Million USD in revenue in their second year of sales. From the context of the article, they are referring to 2008.
- BRS Labs claims this year they are "generat[ing] a pipeline of more than $100 million in revenue"
- In relation to competitors, BRS Labs says, "other similar products produce hundreds of false alarms per day per camera, while BRS Labs’ offering has less than one per day per camera." This, of course, is not true. Many products produce far less than hundreds of false alarms per day (for instance, see our VideoIQ test results).
- BRS Labs cites pricing of $1,000 to $3,000 per camera. They do not clarify if that is for software only or both software and hardware. This is an important distinction as a BRS Labs user mentions that BRS Labs' analytics use Dual Quad core HP servers for 16 cameras, a fairly expensive hardware setup.