3VR Raises $17M for Intelligent Video Search and Analytics
3VR, a global leader in intelligent video search and analytics, today announced that it has secured $17 million in a series E round of financing to fund the development of its product offerings and expansion to the global market. The round was led by Menlo Ventures, in participation of existing investors Kleiner Perkins Caufield & Byers and DAG Ventures, as well as stage company investor, Focus Ventures.From investors:“3VR offers some of the most sophisticated and disruptive technology in the video market today,” said Sonja Hoel Perkins, managing director at Menlo Ventures. “The combination of intelligent analytics and patented search engine technology enables 3VR to deliver immediate and actionable insights that drive ROI for companies of all shapes and sizes. It’s the company’s commitment to continued product innovation that sets them apart in the industry.”“3VR technology continues to address today’s progressively challenging security environment, providing best-in-class support and service to ensure customer success,” said Ted Schlein, managing partner, Kleiner Perkins Caufield & Byers. “3VR is truly transforming how the security industry uses video, pairing search and analytics to make it actionable and thereby infinitely more useful across all departments of an organization.”
In addition to the company’s product and market expansion, it also enhances its leadership team with the appointment of Aisling MacRunnles as new Chief Executive Officer (CMO). Prior to joining 3VR, she was Senior Vice President of Software Market at Sun Microsystems.
“3VR is bringing proven innovation to the security industry at a time when it’s needed more than ever,” said Aisling MacRunnels, CMO, 3VR. “We’re in a unique position of allowing customers to intelligently search video using specific criteria and analytics. The result is actionable data that can solve previously unsolvable security and business problems. 3VR can actually transform what security systems are capable of, using intelligent search and analytics to make them much more powerful and to expand their use into video-based business intelligence.”
3VR was founded in 2002 and currently holds the global track record of deploying the largest private video management. It also has the most accurate facial recognition technology in the market today. This year has been a remarkable year for the company’s acceleration of customer base, even adding the likes of Hilton Americas-Houston and Members 1st Credit Union for instance. This year also marks the release of SmartRecorder ServerClass 100, hailed as the most powerful searchable video recorder. It has also established significant relationships with other key players in the security industry which includes PSA Network, Arecont Vision, Convergint Technologies, AFN Security, Sureview Systems,Fiserv and Hi-Tech Solutions (HTS).So far it’s been smooth sailing for 3VR, which reports a successful year these past 12 months. As video becomes a more prominent version of media and communications distribution, we’ll be seeing more developments around its accessibility, portability and monetization. Security is one area that’s lagging the global video sharing trends, especially when it comes to mobile devices. Security overall is gaining relevance as new technologies and devices usher in new methods of accessing consumers’ private data, or spread malware. With mainstream media also looking to monetize these new trends, the demand around video security will spill into these areas for content protection purposes as well.
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