VideoIQ, a developer of video analytics solutions, announced Monday that Ed Bednarcik has been named as the company’s new president and CEO.
According to a statement, Bednarcik, who will succeed former CEO Scott Schnell, will also join the company’s board of directors.
Prior to joining VideoIQ, Bednarcik served as the CEO of 911 public safety and data center solutions manufacturer Wright Line. Bednarcik has also held executive positions at A123 Systems, American Power Conversion and Business Network Solutions Group.
"VideoIQ has hit the classic inflection point in a startup company's lifecycle where explosive growth occurs as a result of great product and market fit. The introduction of their HD camera last year was the trigger point," said David Skok, general partner at Matrix Partners. "We thank former CEO Scott Schnell for his contributions and welcome Ed to the team. Ed’s experience and track record make him a perfect fit as VideoIQ’s growth continues to accelerate. His passion for technology, extensive global experience, and ability to cultivate market opportunities will be invaluable."
In addition, the company also announced this week that it has secured $7.5 million in funding from several investors including Atlas Venture, Cisco, Matrix Partners and Tenaya Capital. The company said that the funds will be used to accelerate its growth and product development.
For more information about the company, visit www.videoiq.com.