CoVi Technologies Secures $15 Million in Funding for High Definition Video Camera

Austin, Texas - CoVi Technologies, Inc., a provider of next generation video surveillance solutions, announced that it has secured $15 million in Series B Funding from its original investors: Polycom, Inc., Oak Investment Partners, TPG Ventures and Walden International. CoVi launched the company in September 2003 with $16 million in Series A Funds.

CoVi introduced its EVQ-1000 High Definition video surveillance camera in April 2004 during the International Security Conference (ISC) in Las Vegas, NV.

In December 2004, CoVi announced the release of its version 2.0 for the EVQ-1000 camera. The version 2.0 software delivers the best video quality, usability and an unparalleled feature set, including: MultiView, Electronic PTZ, High Definition video and High Dynamic Range. The EVQ-1000 camera is in full distribution and has received rave reviews from industry integrators, resellers, distributors and end-users.

"The additional funding is a real vote of confidence from our investors and another validation of the value that the EVQ-1000 has already delivered to the security marketplace," said Barry Walker, President and CEO of CoVi Technologies. "We are very encouraged by the market acceptance of the camera and the growing number of applications that we see."