VIENNA, VA – April 26, 2016 – Vidsys, a global provider of enterprise Converged Security and Information Management (CSIM) software, announced today that it has received an investment of $11 million led by existing investors NewSpring Capital, Atlanta Equity, Flybridge Capital Partners, and JVax Investment Group, along with new investor, Harmony Partners. Vidsys will use the financing to support its growing international business with customer support operations and product development initiatives. The investment will also be used for the expansion of the company’s Internet of Things (IoT) and virtualized services platform applications for smart and future cities, intelligent transportation, and advanced business intelligence solutions.
"As we celebrated our 10 years in business this past year, Vidsys has become widely recognized across 14 countries, in 5 continents with more than 100 end-users, including top Fortune 500 global corporations and key government agencies now using our intelligent web-based platform to manage their organization’s risk and business operations,” said James I. Chong, Vidsys CEO and founder. “With our software platform being deployed and expanded more rapidly across multiple markets and regions, this new investment will allow us to scale the business to align more fluidly with the growing base of our customers and their key initiatives.”
Vidsys will continue to focus on expanding its capabilities to meet the increasing demand for its scalable and rapidly deployable CSIM software beyond security, into the information management and Internet of Things (IoT) markets. By the year 2020, many analysts believe 35 to 50 billion objects will be connected to the cloud. Vidsys can connect, correlate and filter data to form meaningful and actionable information. As a result, the real-world applications for Vidsys are endless, ranging from supply chain management to public safety to future city initiatives and more.
“Vidsys’ open, web-based software platform provides the valuable intelligence for customers to cost effectively manage and protect their employees, assets, and brands,” said Mark Lotke, Managing Partner of Harmony. “The broad blue chip customer base and strong global integration partnerships are a testament to Vidsys’ best-of-breed functionality.”
Founded in 2005, Vidsys coined the market category of Physical Security Information Management, known as “PSIM”. Over the last ten years Vidsys has evolved its capabilities to include converged security, as well as developing new solutions that embrace IoT and making sense of big data to create smarter, safer cities. The web-enabled platform, which brings people, process, and technology together using one software, has been used in numerous large-scale events around the world ranging from marathons and international sporting events, to global conferences and summits, key dignitary protection events and safe city initiatives.