Storage solution company plans international growth: Co-Founder provides business update.
BY GEOFF KOHL, EDITOR-IN-CHIEF, www.securityinfowatch.comUPDATE - March 10th, 2010, 12 pm
. In this economy a $25 million round of investment funding isn't very common, yet that is just what video storage solutions company Pivot3 announced last week. Flipping back through the business pages in our industry, this is the sort of massive industry investment that only happens about once a year....In July 2008, the big investment recipient was Milestone Systems. The 'open platform' IP video management company received $27 million in funding from Index Ventures in that round, but Pivot3 also received $24 million that year in their 'C' funding. It was more common to see investments of not quite half of those amounts. VideoIQ pickedup $10 million in 2008, and VidSys picked up $10 million the previous year.
"The last big funding round of this magnitude (in the video surveillance space) was Milestone Systems," exlained Lee Caswell, co-founder and chief marketing officer of Pivot3. "The money is going into open system solutions, and of course, Milestone is a perfect example of that. it looks like the IT market, where the money stopped going to proprietary companies and went (instead) to companies that specialize in the open systems like the software and infrastructure."
Indeed, the money tends to be landing directly in the laps of companies that can work with others. For Pivot3, their storage solutions work with a number of video surveillance engines.Read the full interview on www.securityinfowatch.com