Vidsys Hangs On, Gets $11M New Funding

By: Brian Karas, Published on May 16, 2016

The founder of Vidsys claims to have invented the term "PSIM" in 2005, and for some time, many thought that PSIM was going to be the new VMS.

Over the next decade, several competitive PSIM companies arose, and then faded, got acquired for low valuations (ADT/ProximexNICE/OrsusVerint/Rontal),or are still available for purchase [link no longer available].  Meanwhile, Vidsys continued on.

We spoke with founder/CEO James Chong [link no longer available] about Vidsys's latest funding of $11M, and their new term, "CSIM".

Funding ******

****$*** ************* ****** ** **** $*** in ***** ******* **** the **** ** *****, a *********** ****** ** money *** * ********-**** product, *** * **** amount ******** ** *** PSIM ******** ****** ***** is ** *** $*** million ****** ******* ***** globally, ******* * ****** of **** *** *******.

** ********* ** ******* valuation, ** ** **** was ** ** ***** or **** ***** **** provided.

****** **** **** ****** round ** ******* **** focus ** ******* ***** *** marketing *****, *** **** there **** *** ****** be *** ***** ************ to *** *******. **** also **** ** *** money ** ******** ** ** used *** ************. 

Vidsys ******* ********

**** ***** *** ********* on ****** ******* ** number ** *********** ** date, ****** ******** ** provide *** *******.

Middle **** ********* ** ***** ******** ******

****** *** **** **** **** seen *********** *********** ********** the ****** ****, *** in **** ** *** in *** ***** ******* with ********* **** ** spoke **** ***.

*** ****** **** ****** has **** ***** **** both ***** *** ******** concerns **** *** **** several *****, *** *** contributed ** ******* *********' revenue.  **** *** ******* ****** continued *********** ** *** Middle **** ** ***** ** **** ********* *******.

CSIM ** *** *** ****

****** ** *** ********* "Converged ******** & *********** Management", ******. ********* ** ******, CSIM **** ** ****** beyond ******** ******* ** IoT ******* *** ********** points ** *****.

****** *** ******* ** new, *** ******* ** essentially *** **** ** PSIM: **** ** **** from ******** *******/*******, *** correlate **** **** ** event.

******' ******* ********** *** ability ** "**********" *****-***** solutions, ***** ***** ***** web-based ** ** ******** easy ** **, ******* the ******* ****/**** ******** is ******** ** ******* cloud ******** *********.

PSIM/CSIM ****** *******

** ********** ****** *** PSIM/CSIM ********* ** ****** relatively **** *******.  *** technology ** ****** *** primarily ****** ** **** large/complex ***********, ***** ****** the *********** ****** ************* to ******** ******* ** spend ******* ** $***,*** and **** ** ****** a ********** ******.

****** ******* **** **** no *********** ****** ** *** market, ** **** *********** the ******* **** *** undergo ***** ************ *** this ***** ** **** to ****** ***** *** marketing.

****** ****** ******** ********* from ********* ** *** of *** *** ******* marketed (********** ********) **** companies **** ********.

Comments (3)

Wonder how much of that is going to the ceos salary. Just seems strange that investors would invest in something that is not in high demand more so falling in demand.

Probably not as much as you would think.

Obviously CEO salaries can vary a lot, but for a startup-ish company like Vidsys I'd expect the CEO salary to be around $250K base, with some bonuses for hitting sales numbers or other metrics (increasing margin, etc.) that would add another ~$150K annually.

Many times in situations like this the investors will have terms that give them preferences like a minimum amount of return in the event of an exit (2x minimum guaranteed is not uncommon).

It can be hard to figure out exactly what the pitch was, or what the investors really see in any given company, but I think the shift to CSIM and IoT references could have played into the valuation hype. IoT has been a hot topic for VC funds the last few years.

It sounds as though they are, at worst, a niche custom programming consultancy, and likely get their valuation based on the strength of their current and anticipated engagements.

Meaning they are selling more "bodies" than "boxes"....

Read this IPVM report for free.

This article is part of IPVM's 6,534 reports, 880 tests and is only available to members. To get a one-time preview of our work, enter your work email to access the full article.

Already a member? Login here | Join now

Related Reports

"Grand Slam" For Pelco's PE Firm, A Risk For Motorola on Aug 07, 2020
The word "Pelco" and "grand slam" have not been said together for many years....
USA's Seek Scan Thermal Temperature System Examined on Apr 01, 2020
This US company, Seek, located down the road from FLIR and founded by former...
Sunell "Panda Cam" Thermal Body Temperature System Examined on Apr 09, 2020
Sunell's Panda Cam is the most visually recognizable coronavirus camera, sold...
Sunell Panda Cam Body Temperature Measurement Camera Tested on May 14, 2020
Sunell is far less well known than its gargantuan domestic competitors Dahua...
Opgal ThermApp MD Thermal Screening System on Apr 21, 2020
Israeli thermal provider Opgal claims they were first on the market detecting...
Hanwha and Hikvision Selling H.265 Without HEVC Licensing on Aug 19, 2020
IPVM has confirmed that Hanwha and Hikvision do not have H.265 licenses from...
These Florida Real Estate Agents Are Now Selling "SafeCheck USA" Temperature Detectors on Jul 09, 2020
The "Kakon Brothers", William and Nathan, are self-described "south Florida...
Dahua Sues Ex-North American President, Says Legal Typo on Jun 03, 2020
Dahua's former North American President Frank Zhang claims he is owed almost...
Dahua, Hikvision, ZKTeco Face Mask Detection Shootout on Jun 19, 2020
Temperature tablets with face mask detection are one of the hottest trends in...
Motorola Solutions Acquires Pelco on Aug 03, 2020
Motorola Solutions has acquired Pelco, pledging to bring blue back and make...
Cisco Acquiring Fluidmesh on Apr 09, 2020
Cisco announced it is acquiring niche wireless manufacturer...
Canon Company Milestone Takes $1+ Million PPP Money on Jul 16, 2020
Milestone, a Canon company, took $1 million+ in PPP loans, despite being part...
2020 Mid Year Video Surveillance Industry Guide on Jul 27, 2020
The first half of 2020 has been shocking, for the world generally, and for...
Milestone Hires New CEO From IT Integrator on Aug 18, 2020
For the first time in 20 years, Milestone Systems has a new CEO and, notably,...
Brazil's Biggest Domestic Surveillance Company Intelbras Profile on Jul 29, 2020
While Intelbras is not widely known outside of Latin America, Intelbras is a...

Recent Reports

OnTech Smart Services Partners With Google and Amazon To Compete With Integrators on Sep 25, 2020
A pain point for many homeowners to use consumer security and surveillance is...
The Future of Metalens For Video Surveillance Cameras - MIT / UMass / Immervision on Sep 25, 2020
Panoramic cameras using 'fisheye' lens have become commonplace in video...
Hikvision Sues Over Brazilian Airport Loss on Sep 24, 2020
Hikvision was excluded from a Brazilian airport project because it is owned...
China General Chamber of Commerce Calls Out US Politics on Sep 24, 2020
While US-China relations are at an all-time low, optimism about relations...
IP Networking Course Fall 2020 - Last Chance - Register Now on Sep 23, 2020
Today is the last chance to register for the only IP networking course...
Drain Wire For Access Control Reader Tutorial on Sep 23, 2020
An easy-to-miss cabling specification plays a key role in access control, yet...
Norway Council of Ethics Finds Hikvision Human Rights Abuses "Ongoing" on Sep 23, 2020
Hikvision's involvement in "serious human rights abuse" in Xinjiang is...
IPVM Camera Calculator User Manual / Guide on Sep 23, 2020
Learn how to use the IPVM Camera Calculator (updated for Version 3.1). The...
Installation Course Fall 2020 - Save $50 - Last Chance on Sep 22, 2020
This is a unique installation course in a market where little practical...
SimpliSafe Business Security Launched Examined on Sep 22, 2020
SimpliSafe has launched "SimpliSafe Business Security" that the company...
FLIR CEO: Many New Fever Entrants "Making Claims That The Science Just Won't Support" on Sep 22, 2020
FLIR's CEO joins a growing number calling out risks with fever / screening...
China Bems Temperature Measurement Terminal Tested on Sep 22, 2020
Guangzhou Bems (brand Benshi) is the manufacturer behind temperature...
Axis Exports To China Police Criticized By Amnesty International on Sep 21, 2020
Axis Communications and other EU surveillance providers are under fire from...
Milestone XProtect on AWS Tested on Sep 21, 2020
Milestone finally launched multiple cloud solutions in 2020, taking a...