Envysion Raises $3 Million and Gains Recognition as One of Colorado's Most Innovative Companies

LOUISVILLE, Colo. , Aug. 15 /PRNewswire/ -- 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...


LOUISVILLE, Colo. , Aug. 15 /PRNewswire/ -- 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."

Boulder County Business Report (BCBR) IQ Award Latest in Envysion's Growing List of Honors

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 Boulder Valley. Envysion is recognized as the most innovative among nominees in the Business Product & Service category.

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."

About Columbia Capital

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

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