3VR, a developer of video analytic surveillance solutions, announced Wednesday that it recently secured $12 million in funding. According to a statement issued by the company, the Series D round of funding was led be Menlo Ventures, whose managing director, Sonja Hoel Perkins, will now join 3VR’s board of directors as part of the deal.
The company says that it plans on using the funding to help increase its leadership and presence within the intelligent video surveillance market.
“This financing is a testament to the burgeoning market for searchable surveillance solutions and the great momentum we have established in the industry” said Al Shipp, CEO of 3VR Security in a prepared statement. “The ability to combine advanced analytics and biometrics into a single surveillance platform with simple integration options is one of the most significant developments in the history of the security industry. Comprehensive surveillance platforms are fast becoming table stakes for any company looking to more efficiently combat fraud and improve the overall security and profitability of their operations.”