videoNEXT Lands $5.4M in New Financing

Joseph Costa, a consultant with Rampart Partners who has been working with videoNEXT Network Solutions has been named the company's president and CEO. The company provides integrated, networked security management solutions designed around IT infrastructure.

In addition to the naming of Costa as CEO, the company has received $5.4 million in series B financing, primarily from Delta Private Equity Partners, as well as Newlight Associates and Longstreet Partners. Newlight and Longstreet are return investors to the start-up; both were involved in the series A funding of December 2005.

The company plans to use the new capital to aid its marketing and sales efforts, as well as continued product development. The former head of videoNext, Christopher Gettings, will remain with the company as chairman, and will be leading the company in acquisition of federal customers and business partnerships.

VideoNEXT is based in Chantilly, Va., approximately 28 miles from Washington, D.C., and is best known for its Security Knowledge Manner software to integrate surveillance video, facility access control and biometrics into a system for enterprise-management that can be managed over a web browser.

Prior to working with Rampart Partners, Costa worked with security systems integration firm ISR Solutions, which was sold to Stanley in 2004. He founded LINX Technologies which was sold to Mosler in 1993.

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