Agilence Inc., a Camden, N.J.-based provider of video analysis solutions, has raised an undisclosed amount of Series B funding from Schneider Electric Ventures.
Agilence, Inc., a leader in intelligent video analysis solutions, today announced that it received additional Series B funding from Schneider Electric Ventures, a leading venture capital firm sponsored by the Schneider Electric Group, which owns video and security systems manufacturer, Pelco.
This round of financing, which includes funding by Granite Ventures and Next Stage Capital, will ensure long-term growth as Agilence expands its retail operational intelligence solution. The Agilence solution reduces shrink caused by cashier fraud, operational inefficiencies and policy violations and enables early fraud detection, leading to higher prevention and deterrence.
“We are excited to partner with Schneider Electric Ventures as we continue to move forward with our growth strategy,” said Russ Hawkins, President and CEO of Agilence, Inc. “This funding validates our momentum as we help customers uncover the hidden shrink caused by operational errors that impact an organization’s profitability.”
The Agilence solution is available in Standard and Enterprise editions designed to meet the needs of both national chains and small, regional retailers. Both versions are available as a traditional license and maintenance model or through AgilenceOn – the monthly subscription model that includes Agilence’s professional team of analysts.
“Agilence addresses critical areas in retail shrinkage,” explains Benoit Toulouse of Schneider Electric Ventures, who will join the Agilence board of directors in an observer role. “The quality and expertise of the team, the strong added-value proposition for customers and the potential synergies that can be built with Pelco to better address the needs of the retail market attracted us to Agilence.”
Agilence develops intelligent video analysis solutions that enable retailers to quickly identify shrink caused by cashier fraud, operational inefficiencies, and policy violations that directly impact the profitability of the organization. The Agilence solution can reduce cashier shrink by up to 80% and provide retailers with a 6-to-1 ROI in just 12 months.
Founded in 2006, Agilence, Inc. is headquartered in Camden, N.J. To learn more about Agilence, Inc., please visit www.agilenceinc.com or call 866-710-3792.
About Schneider Electric Ventures
Schneider Electric Ventures is a leading venture capital firm sponsored by the Schneider Electric Group, a global leader in energy management with revenues in excess of US$20 bn.
With strong expertise in three main fields: Energy & Power, Automation & Communication and Advanced Materials & Electronics, Schneider Electric Ventures focuses on early to later stage investments world-wide. Generally acting as co-investor, Schneider Electric Ventures is highly involved in its investments to enhance their successful growth.
Schneider Electric Ventures has offices in France, China and Japan and and has an active portfolio of 20 companies world-wide. To learn more about Schneider Electric Ventures, please visit www.se-ventures.com