Vidsys Hangs On, Gets $11M New Funding

Author: 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.  Meanwhile, Vidsys continued on.

We spoke with founder/CEO James Chong about Vidsys's latest funding of $11M, and their new term, "CSIM".

*** ******* ** ****** ****** ** **** ******** *** **** "PSIM" ** ****, *** *** **** ****, **** ******* **** **** *** going ** ** *** *** ***.

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Funding ******

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****** **** **** ****** ***** ** ******* **** ***** ** ******* sales *** ********* *****, *** **** ***** **** *** ****** be *** ***** ************ ** *** *******. **** **** **** us *** ***** ** ******** ** ** **** *** ************. 

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

**** ***** *** ********* ** ****** ******* ** ****** ** deployments ** ****, ****** ******** ** ******* *** *******.

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

****** *** **** **** **** **** *********** *********** ********** *** ****** East, *** ** **** ** *** ** *** ***** ******* with ********* **** ** ***** **** ***.

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

****** ** *** ********* "********* ******** & *********** **********", ******. ********* ** ******, **** **** ** ****** ****** ******** devices ** *** ******* *** ********** ****** ** *****.

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

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****** ****** ******** ********* **** ********* ** *** ** *** few ******* ******** (********** ********) **** ********* **** ********.

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"....

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