|By PR Newswire||
|April 7, 2014 05:50 AM EDT||
NASHVILLE, April 7, 2014 /PRNewswire/ -- Smartvue Corporation announced today's closing of a $3.85 million Series A investment to support its growth as one of the world's leading cloud video surveillance platform companies. Headquartered in Nashville, Tenn., Smartvue's expansion includes a dozen newly hired employees and a new, larger office space to meet the demands of its dramatic growth.
Smartvue plans to use the investment to continue to strengthen capabilities with new solutions and expand its intellectual property portfolio, which currently includes more than 22 patents. The company has hired twelve new employees over the last two months and will continue to hire new employees throughout 2014 to keep up with the rapid pace of its growing demand.
The investment represents another important step in the expansion of Smartvue Corporation and growth in the Nashville technology sector. "We make the world a safer and smarter place by delivering complex cloud video technologies in a simple and elegant surveillance solution," said Martin Renkis, Founder and CEO of Smartvue Corporation. "2014 bookings are up 400 percent over last year, and this new capital provides us the resources to continue to innovate and deliver the world's leading video surveillance cloud platform."
Smartvue Series A investors include David Dorman, former CEO of AT&T and Chairman of Motorola, as well as Arthur Laffer, Chairman of Laffer Associates and former economic advisor to President Ronald Reagan. "Making simple things complicated is commonplace," said Laffer. "Making complex technologies simple is a challenge, and with this investment Smartvue will continue to define the industry standard by delivering low cost, big data business intelligence with its elegantly simple cloud video surveillance solutions."
Smartvue's rapid growth has been driven by increased surveillance demand among businesses and organizations with multiple locations. Building on this momentum, Smartvue is committed to its vision of building the world's largest surveillance platform and providing innovative security technologies to global customers.
"Surveillance is the fastest growing sector of the security industry," said Daniel Percey, VP of sales at Smartvue Corporation. "In particular, there is tremendous demand for a surveillance platform that can not only scale but centrally manage from one to thousands of locations with up to hundreds of thousands of cameras. Smartvue is uniquely qualified to deliver this solution with over a decade of experience and its robust video platform as a service (VPaaS)."
About Smartvue Corporation
Headquartered in Nashville Tenn., Smartvue Corporation creates video surveillance technologies, making the world a smarter and safer place since 1998. Smartvue is an enterprise-grade cloud software company and video surveillance innovator with several industry awards. Delivering end-to-end surveillance solutions, the company provides cost effective edge devices combined with cloud storage and management services. To learn more about Smartvue Corporation and its products, please visit Smartvue.com.
SOURCE Smartvue Corporation
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