Investments & Acquisitions Directory 2011

By: John Honovich, Published on Dec 26, 2010

This directory provides a single source of information on funding and acquisitions in the video surveillance market. It is part of our Video Surveillance Financials section, where we analyze on-going investment trends and announcements within the industry. This is the third version of the Directory.

The directory includes information on (recent activity indicated in parentheses):

  • 3VR: $17 Million
  • Intransa: $8 Million (approximate over two disclosures)
  • Envysion: $2 - $3 Million
  • TimeSight: $3.25 Million (over two disclosures)
  • This totals slightly over $30 Million with an average of approximately $8 Million.

    2009 / H1 2010 Funding Summary

    From October 1, 2009 to April 30, 2010, the following investments have been disclosed:

    • Aimetis: $5 Million - VMS / video analytics
    • Avaak: $10 Million - managed services / home
    • BRS Labs: $.34 Million
    • Firetide: $8.5 Million
    • Pivot3: $29 Million
    • Proximex: $1.39 Million
    • Timesight: $.75 Million

    Total funding raised was $55 Million with an average round of $7.85 Million.

    During this time period, two notable acquisitions occurred, both of which were widely viewed as disappointing relative to funding raised:

    Perhaps the most impressive acquisition in video surveillance was for analog component supplier Techwell, acquired at a significant premium to both stock price and annual revenue.

    3VR

    In one of the largest VC investments ever for a video recorder/analytics company, 3VR announced a $17 Million investment (see filed SEC Form D). This follows an August 2009 $12 Million investment bringing the total raised to approximately $60 Million (since inception in 2002). During the last investment, 3VR was projecting total 2009 revenue of approximately $15 - $20 Million.

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    3VR received $12M USD in new funding in September 2009. This is in addition to previous funding rounds of $5M, $15M and $10M. 

    Read our extended analysis on both the new $17 Million round and the previous $12 Million round.

    AgentVi

    AgentVi reported $9 M USD Series B funding in 2008 [link no longer available] and a total of $18 M USD funding. AgentVi is a specialist developer of video analytics.

    Aimetis

    In March 2010, Aimetis announced $5 Million Series A funding. Aimetis is a fairly mature company and has received private funding prior to this round. Aimetis develops an integrated video analytics / VMS solution.

    Arecont Vision

    Arecont Vision reports never having received VC funding.

    Avaak

    In March 2010, Avaak announced $10 Million in Series B funding. In 2008, Avaak received $8 Million in Series A funding [link no longer available]. Avaak has developed a managed video solution using proprietary wireless cameras. Read our review of Avaak's Vue product.

    Avigilon

    Avigilon reported $7.5 M USD funding in 2008 [link no longer available]. I cannot find records of previous funding. Avigilon offers megapixel/HD cameras and recorders. See our review of Avigilon.

    BRS Labs

    In April 2010, government documents disclosed $341,300 in new funding for BRS Labs. Prior to that, BRS Labs claims to have received $47 M USD in funding with $12 M USD new funding reported in 2009. However, the funding is not through Venture Capitalists, which is atypical for such a large level of funding. For the most recent $13 Million in funding, government documents indicate that 100 or more unique investors contributed.

    Cernium

    Cernium reported $10 M USD funding at end of 2007. Prior to that, Cernium raised a $7.5 M USD Series D in 2005. It's likely that Cernium has raised over $30 M USD total. Cernium is a video analytics developer who has targeted a variety of applications including airports, government, remote monitoring and home/SMB.

    Cieffe

    Cieffe was acquired by March Networks for a combination of cash and stock of approximately $25M USD. Cieffe's 2007 revenue was approximately $15 M USD from a combination of IP camera, encoder and VMS software sales.

    Cisco

    Cisco acquired VMS provider Broadware in 2007 for an undisclosed sum and encoder/VMS provider Sypixx in 2006 for $51 M USD in cash and options [link no longer available].

    While these acquistions and Cisco's entrance into the market was highly anticipated and discussed, Cisco has struggled in the video surveillance market.

    CognoVision

    CognoVision, an analytics provider for the digital signage market, was acquired by Intel for a rumored $17 Million. Read our review of the acquisition and its potential

    Covi

    Covi, an early HD camera/recorder manufacturer, received over $60 M USD in funding [link no longer available]. The cameras required Covi's proprietary recorder and never caught on, despite the massive investment. Covi's assets were acquired by GE Security in 2008 [link no longer available].

    Digiop

    VMS developer Digiop reported an undisclosed amount of funding in 2009 [link no longer available]. Read a review of Digiop as part of the DVR comparison report.

    Envysion

    Envsion raised slightly more than $3M in funding since Fall 2009 as well as a $3 Million USD third series round in 2008 [link no longer available] and a total of about $17 M USD since 2006. Envysion offers a managed video solution targeted primarily at small box retailers. Read our review of Envysion's product/offering.

    ExtremeCCTV

    ExtremeCCTV was acquired by Bosch in 2007 for approximately $90 M USD. In 2006, ExtremeCCTV generated approximately $25 M USD in annual revenue. ExtremeCCTV is a specialist in night vision video surveillance.

    Firetide

    In October 2009, Firetide announced $8.5 Million in funding. Prior to that, Firetide received $14.4 M USD Series D in 2007. This is in addition to previous raised $16.8 M USD [link no longer available]. Firetide is the most well known mesh wireless manufacturer in video surveillance. Read our August 2009 update on Firetide's revenue and progress.

    FLIR

    In June 2009, FLIR paid $13 Million USD cash [link no longer available] for Salvador Imaging, a company specializing in low-light color imaging to complement its existing portfolio of thermal/IR imaging.

    Previously, in 2007, Salvador Imaging was acquired by Photon Dynamics for a combination of cash and stock of approximately $20 Million USD.

    Genetec

    VMS provider Genetec reports never having received VC funding.

    In December 2010, Genetec disclosed acquiring a 7 person engineering company. Read our review of the acquisition and acquired product.

    Intransa

    Intransa raised $6.3 Million USD in August 2010 and, previously, $15 M USD Series D in 2008 [link no longer available]. Total funding for Intransa is over $50 M USD. Intransa is a storage manufacturer that has increased its product offering for video surveillance storage and now servers.

    Intellivid

    Intellivid's assets were acquired by Tyco in 2008 for an undisclosed price. Intellivid had raised approximately $13.3 M USD in VC funding [link no longer available]. Intellivid developed a video analytics solution for the retail market. Tyco, through its American Dynamics and Sensormatic division has a strong position in retail. Read an analysis of the potential impact of the acquisition.

    ipConfigure

    VMS provider ipConfigure reports never having received VC funding. Read a review of their product offerings.

    JDS

    According to V/B Research [link no longer available], IP video software provider JDS is seeking funding or considering a sale. One of the earliest IP video software developers, JDS projects total 2009 revenue of $2.5M USD.

    Milestone Systems

    Milestone System received $27 M USD funding in 2008 [link no longer available]. Milestone had not previously raised VC funding since founding in 1999. Milestone's CEO stated at a conference that their next planned fund raising will be an IPO (date not discussed).

    NLSS

    In August 2009, SEC documents show that NLSS received $1.85 Million in funding. For background, read our review of NLSS's product strategy

    ObjectVideo

    Total funding for ObjectVideo is likely over $50 M USD though only an $11 M USD Series C investment from 2004 is reported online.

    Pelco

    Pelco was acquired in 2007 for $1.5 Billion USD by Schneider Electric. Pelco reported 2006 earnings of just over $500 M USD.

    Pivot3

    In March 2010, $25 Million in new funding was announced by Pivot3 (a further $4 was announced in April 2010). Prior to that, Pivot3 announced $24 M USD series C funding in 2008 [link no longer available]. Total funding for Pivot3 is likely over $50 M USD. Pivot3 specializes in large scale IP based storage, however, they have expanded recently to add smaller sized product options.

    Pixim

    Pixim raised $13 M USD funding end of 2008 [link no longer available]. Total funding is estimated at $45 M USD. Pixim specializes in developing super wide dynamic range chipsets that improve image quality for high contrast scenes. Pixim's chips are used by dozens of large camera manufacturers.

    Proximex

    In January 2010, Proximex raised $1.39 Million. No other funding has been publicly announced though previous funding was almost certain as far back as 2007.

    Steelbox

    Steelbox received 3 rounds of funding for an estimated total of $20 M USD. The comany declared bankruptcy and its assets were acquired by an IT company, ASG. Read our coverage and analysis of Steelbox's history and issues.

    Stretch

    Stretch raised $15 M USD Series B funding in 2009. Stretch develops software configurable DSPs for use in DVR encoder cards and IP cameras. Stretch is one of the founding members of the HDcctv Alliance. Additionally, Stretch is a major proponent of the SVC H.264 codec.

    TimeSight

    In January 2010, TimeSight raised $750,000. Prior to that, TimeSight raised $4.5 M USD Series A funding in 2008. In September 2009, we raised significant concerns over the risks and over-stated claims of TimeSight.

    Videolarm

    Videolarm was acquired by Moog in 2009 for $45 M USD. Videolarm reported $19.5 M USD revenue in 2008. At a multiple of 2.5 times sales, this acquisition represents one of the more profitable acquisitions, compared to many recent VC funded startups.

    VideoCells

    Videocells received $3.2 Million USD funding in February 2009. Videocells is developing a hosted video solution for carriers and service providers.

    VideoIQ

    VideoIQ raised $6 Million funding in February 2010. Priot to that, VideoIQ raised $10 M USD Series B funding in 2008 [link no longer available]. They were spun out of GE Security in 2007, when they raised their Series A round of $8 M USD [link no longer available]. Earlier in the decade, VideoIQ had been acquired by GE Security.

    VideoIQ has developed an all-in-one camera combining analytics, storage and video management. Read our test results of VideoIQ's analytics.

    Vidient

    In November 2010, Vidient shut down its operations and is selling off its technology.

    Vidient raised $7.8 M USD funding in 2008. Prior to that, Vidient raised approximately $18 M USD [link no longer available]. The core technology was originally developed by NEC and then spun out.

    Read a June 2009 update on Vidient's product and company activities.

    Vidsys

    Vidsys raised $10 M USD Series B funding in 2007.

    According to V/B Research [link no longer available] as of July 2009, Vidsys is looking for more funding. Vidsys wants to complete a Series C rounds and is interested in $5M USD from an outside investor to close the round. This would be in addition to $13 M USD previously raised. In the report, Vidsys claims they will be profitable in 2010.

    Vistascape

    PSIM/Video Analytics provider Vistascape was acquired by Siemens in 2006. Vistascape had raised a reported total of $26.6 M USD in funding. While the valuation of the acquisition was announced, it was widely believed that the deal was for the amount of funding received or less.

    5 reports cite this report:

    Intransa Raises $6.3 Million on Sep 07, 2010
    An August 2010 SEC document discloses that surveillance storage manufacturer Intransa has raised $6.3 Million. A total of 13 investors for this...
    2010 Mid-Year Video Surveillance Review on Jul 10, 2010
    At the halfway point of the year, a few trends stand out from a relatively quiet 6 months in the video surveillance industry. In this article, we...
    New Funding for Intransa - June 2010 on Jun 02, 2010
    Storage / video appliance supplier, Intransa has raised additional funding, furthering a massive amount of investment. According to US government...
    Training: Basics for the Video Surveillance Business on May 17, 2010
    This report provides a 48 minute video presentation that teaches the basics of the video surveillance business including: Size and structure of...
    $25 Million Series D Round Examined on Mar 01, 2010
    In March 2010, Pivot3 announced a $25 Million Series D Round (confirmed by Pivot3's press release [link no longer available] and in its SEC...
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