Ridgefield Park, New Jersey-based DVTEL Inc, a provider of video surveillance solutions, has closed $9 million in funding. The backers are Seacoast Capital and EGIS Capital Partners. Imperial Capital was the placement agent.
RIDGEFIELD PARK, N.J., May 18, 2015 — DVTEL, INC., the video surveillance solutions provider, announced that it completed a $9-million capital infusion investment by the end of the first quarter of 2015.
DVTEL will use the net proceeds from the transaction to fund its corporate growth plans, including significant R&D efforts such as the continued evolution of its global enterprise-class Latitude Network Video Management Systems (NVMS), mid-market scalable and user-friendly Horizon and Meridian NVMS, dcVMS (distributed cloud-based-VMS systems), and Cyber Defense technologies. The company also plans an expansion of its vertical marketing strategies worldwide.
The new shareholders are highly reputable, growth-oriented PE firms Seacoast Capital and EGIS Capital Partners. Seacoast Capital is a strategic investor in high-quality U.S. companies that are leaders in its target sectors of manufacturing, distribution, business services, and industrial technologies. EGIS Capital Partners is a leading private equity firm focused on middle-market buyout and late-stage growth investments in the security and homeland defense sectors. Imperial Capital drove the transaction and worked closely with all parties to finalize the placement.
“In our judgment, DVTEL now combines the segment’s best management team with a technologically superior and carefully conceived IP surveillance solution to the middle market,” said Timothy Fay, Partner, Seacoast Capital.
“EGIS Capital Partners has been following DVTEL for several years, and we believe this is the right time and the right leadership that makes an exciting opportunity to be an investor in the company” said Robert Chefitz, Managing Partner, EGIS Capital Partners.
“DVTEL continues to position itself as a global leader in the IP surveillance field,” said John Mack, Executive Vice President and Co-Head of Investment Banking, Imperial Capital. “For Seacoast and EGIS, the investment represents a unique opportunity to support a highly innovative, fast-growing company that is at the forefront of a burgeoning industry.”
“The capital investment from these leading financial firms is a statement of recognition for the innovation and significant momentum we have established for our video surveillance solutions across the globe,” said Yoav Stern, CEO, DVTEL. “DVTEL now has the opportunity to channel additional resources into our leading VMS and camera technologies to ensure our customers are benefitting from the highest level of efficiency, effectiveness, and reliability. In addition, we’re focused on expanding our solution to a cloud-based, shared-resources economy of scale structure, as well as further defining our cyber defense initiatives to protect corporate IT grids from vulnerabilities in IP video networks. In parallel, we will be accelerating our marketing efforts to focus our attention on serving the needs of various vertical segments around the globe.”
Most recently, DVTEL showcased a wide range of new product innovations during ISC West 2015, one of the largest security conferences in the world. The company’s new technologies include the global topology United VMS 7.0, a new Web client with a smartphone-like user interface for command and control (CC), Quad HD cameras that incorporate true WDR, and Quasar 4K Certified Solutions.
DVTEL is a leading developer of open-standard, end-to-end video surveillance solutions. DVTEL’s advanced technology R&D department provides enterprise-grade integrated IP video networks available for small, mid-size and enterprise applications – that are scalable and share unified architecture. Solutions include high-performance, storage-efficient HD IP cameras and video analytics for outdoor intrusion detection and tracking developed by DVTEL’s research teams.
DVTEL partners with leading industry players to deliver ONVIF-compliant solutions, provide high-quality services, develop custom applications, and seamlessly integrate third-party products to ensure interoperability and performance. DVTEL’s installations provide field-proven expandability, flexibility and functionality in thousands of locations across five continents, while minimizing your investment and cost of ownership.
For more information, go to www.dvtel.com.