Envysion Inc., a Louisville, Colo.-based provider of managed video-as-a-service, has raised $3 million in third-round funding. Columbia Partners led the round, and was joined by return backers like High Country Ventures and Bear Equity.
Envysion(TM) Inc., (http://www.envysion.com) the leading Managed Video as a Service (MVaaS) provider, today announced that it has closed a third round of equity investment, raising an additional $3 million. Highlighting Envysion's innovation and growth, the Boulder County Business Report honored Envysion with its IQ Award, recognizing it as one of the area's most innovative companies. The IQ Award is the latest recognition Envysion has received for its innovative service and outstanding growth. In June, the company received the CSIA Apex Award for innovation, and in March won VON Magazine's Innovator Award.
The announcements come on the heels of several news releases Envysion issued just a few weeks earlier in July. Those announcements included: Several new enhancements to its MVaaS platform; becoming the first managed video company to comply with PCI-DSS standards; signing one of the largest fast-food restaurant franchise owners in the Southeast; and, gaining traction in the hotel industry segment with two new customers.
“Envysion offers a well-differentiated, cost-effective solution that demonstrates the vital role that video assets can play in business operations,” noted Ira M. Weinstein, senior analyst and partner at Wainhouse Research. “Its service ties video on the web to distinct business applications, enabling almost any type of organization to improve operations and increase profitability.”
The IQ Award “recognizes products or services that are truly innovative.” Award-winning ideas are those that lead to a sustainable business that has the best potential to help build or grow a successful and profitable company. This year, BCBR received nearly 60 nominations from companies in the
Matt Steinfort, CEO of Envysion, said, “Gaining recognition for our customer focused innovation is very gratifying, and we continue to invest in and deliver improvements in our service for our customers by way of our Managed Video as a Service platform.”
Envysion Raises $3M in Third Round of Funding
In addition to winning the IQ Award, Envysion announced that it has closed its third round of funding from its existing investors, bringing total funds raised to $12.5 million since February of 2006. The round was again led by Columbia Capital, with continued participation by High Country Ventures, Bear Equity and a number of the company's early angel investors.
The additional funding comes as Envysion experiences dramatically increased traction with its MVaaS offering. The majority of the capital will be devoted to the ongoing enhancement of the Envysion Video product and to the acceleration of Envysion's sales and marketing efforts.
“We are excited about the traction Envysion Video has gained within the restaurant, retail and hotel segments,” said Columbia Capital Partner John Siegel. “We believe that Envysion will continue to lead the industry with its innovative MVaaS offering.”
Columbia Partners Private Capital (http://www.columbiaprivatecapital.com) is the direct investment unit of Columbia Partners, L.L.C. Investment Management, a Washington, D.C.-based registered investment advisor managing over $3 billion. The firm's clients are Public, Taft Hartley, and Corporate pension funds. Columbia Partners Private Capital makes structured finance investments in mid-to-later stage growth companies, with a particular industry focus on the information technology, telecom, media, health care and alternative energy sectors.
About High Country Venture
High Country Venture manages Colorado Fund 1 (http://www.coloradofund1.com), a venture capital fund seeking to invest in seed and early stage businesses in
About Bear Equity
Bear Equity is a private investment firm owned by Dan Caruso. Bear Equity has equity investments in Envysion, Zayo Group (http://www.zayo.com), NGT Communications (http://www.ngt.com), DataVail (http://www.datavail.com), Lanx (http://www.lanx.com), High Stakes Entertainment (HSE) (http://www.highstakesentertainment.com) and the Village at Uptown Broadway (http://www.villageatuptown.com). Bear Equity is located in
Envysion is an award-winning innovator in web-based video management that is redefining video surveillance and providing demonstrable results for its customers. Envysion Video enables organizations to leverage remote video and provides operators insight to improve performance in every location, every day. The service goes beyond traditional security and loss prevention applications by integrating video with business tools such as Point-of-Sale (POS) systems. Operators benefit from easy-to-use remote viewing of live and recorded video from an unlimited number of locations, providing insight into operations, loss prevention, marketing effectiveness and customer behavior. The company is driving the development of Managed Video as a Service (MVaaS), which brings the Software as a Service (SaaS) model to the video surveillance market. Through the MVaaS platform, Envysion Video eliminates the complexity of managing a large scale video deployment and is constantly and seamlessly upgraded, allowing users to focus on their business. Target markets include restaurants, retail, hotels and financial services. The company was founded in 2006 and is based in