3VR Secures $17 Million in Funding to Bring Intelligent Video Search to Broader Market

Global leader in intelligent video search and analytics concludes record year with funding and new addition to the management team.

2010-12-24

SAN FRANCISCO, CA, December 24, 2010 (Press-News.org) Today, 3VR Security, Inc., the global leader in Intelligent Video Search and Analytics, announced that it has closed a $17 million round in new financing with a significant increase in valuation, led by Menlo Ventures. The round will fuel 3VR's continued development of its industry-leading intelligent video search and analytics technologies, as well as its expansion into global markets. This funding is the culmination of a record year for the company, in which it also expanded its leadership team with the addition of Aisling MacRunnels as its new chief marketing officer. MacRunnels joins 3VR from Sun Microsystems, recently acquired by Oracle, where she was senior vice president of software marketing.

"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."

In addition to Menlo Ventures, Kleiner Perkins Caufield & Byers and DAG Ventures, previous investors in 3VR and two of the leading technology venture funds, have reinvested in the company. The round also includes new investment from Focus Ventures, a Palo Alto-based firm specializing in expansion stage companies.

"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."

Founded in 2002, 3VR has become a global leader in intelligent video search and analytics that provides security solutions to hundreds of global customers, across a diverse array of industries, including leading financial and retail institutions, government organizations and critical infrastructure. Today, the company has the largest private video management deployment in the world, as well as the most accurate facial recognition technology on the market. 2010 has been a remarkable year of growth for 3VR with the expansion of their customer base, welcoming Hilton Americas-Houston and Members 1st Credit Union, among many others. Additionally, the company has forged new partnerships with many industry-leading channel partners and a number of significant players in the security industry, including PSA Network ,Arecont Vision, Convergint Technologies,AFN Security, Sureview Systems, Fiserv and Hi-Tech Solutions (HTS). 3VR also released several new products in 2010, including the SmartRecorder ServerClass 100, the industry's most powerful searchable video recorder.

"2010 has been a record year for 3VR. Our customers are reporting unprecedented results with our products and we're continuing to grow rapidly - in terms of customers, but also the number of technology and channel partnerships we're developing worldwide," said Al Shipp, CEO, 3VR. "We're looking to 2011 to continue this rapid growth and the addition of Aisling to our executive team is going to prove invaluable. She brings incredible leadership and extensive marketing and channel expertise that will help accelerate these efforts."

Prior to joining 3VR, MacRunnels was responsible for all aspects of marketing from product management to demand generation, channel strategy and business models/pricing operations at Sun Microsystems. In addition, MacRunnels played an instrumental role as the key spokesperson during Oracle's acquisition of Sun Microsystems, as well as led the subsequent integration of Sun Microsystems' software team into Oracle.

"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."

About 3VR
3VR Security, Inc. is the global leader in Intelligent Video Search and Analytics - a faster, more reliable, and less expensive way to fight crime, ensure people's safety and improve business efficiency. With 250 billion hours of video captured every year in the U.S., the award-winning 3VR Intelligent Surveillance Platform makes it possible to efficiently mine and manage it. 3VR is the security standard for hundreds of global customers, including leading banks, retailers, governments, and law enforcement agencies. Based in San Francisco, CA, the company is privately held with funding from Kleiner Perkins Caufield & Byers, Menlo Ventures, VantagePoint Ventures, In-Q-Tel, Focus Ventures, and DAG Ventures. 3VR's SmartRecorder is the three-time winner of the SIA Best New Video Product Award and was named Security Product of the Year from Frost & Sullivan in 2006 and 2007, among other awards. For more information, please visit http://www.3vr.com.

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