BroadWare Closes New Round of Funding
New Investment Resources will be Leveraged to Expand BroadWare's Global Presence, Technology Offerings and Vertical Market Outreach
CUPERTINO, Calif. – June 15, 2005, – BroadWare Technologies, Inc., the leader in distributed video surveillance, today announced it has secured a new round of funding led by Kinetic Ventures, a leading venture capital investor in high growth, technology-driven businesses. The round includes new funding from corporate investor Cisco Systems, Inc., as well as follow-on investments from venture capital firms Dali Hook Partners, McKenna Ventures and Sigma Partners. This new funding round, which was substantially greater than first planned, will be leveraged to strengthen BroadWare's global presence and growth into new vertical industries including enterprise, commercial and financial markets.
"These significant investments will enable BroadWare to strengthen our current business model and help drive the future of video surveillance technologies over IP networks," said Bill Stuntz, CEO of BroadWare Technologies. "We will be able to increase our investment in aggressive new technology development initiatives aimed at rapidly expanding our product lines and our user base. We are now better equipped to assist our current channel partners in moving into new growth market segments, and better positioned to attract new partners with proven expertise within our new target markets."
BroadWare's line of video surveillance solutions is built on an open systems platform that facilitates the integration of multiple technologies from diverse vendors within a single system. This empowers BroadWare’s customers to more cost effectively expand security and surveillance technologies as new technologies emerge. BroadWare’s industry-leading technology is used by systems integrators, VARs and OEMs to create and deliver video surveillance solutions for ground, rail and air transportation companies, airports and maritime port authorities, classified military projects and government security agencies.
“Companies in need of surveillance and security solutions now realize that a digital video network based on an open standards platform is the way to go," said Gerry Kaufhold, Principal Analyst of the research firm In-Stat, based in Scottsdale, Arizona. "This new investment round in BroadWare validates and strengthens its lead in the network-based video surveillance market and will enable the company to more rapidly bring new technology to market and generate revenue from a broader customer base."
The video surveillance industry is experiencing dramatic changes driven by revolutionary new technologies from BroadWare and its industry peers. A migration from analog to digital video surveillance solutions is enabling images to be managed, analyzed, and distributed over the IT infrastructure in important new ways. The BroadWare Media Platform is a suite of server-based technologies for management, distribution and storage of video surveillance data in a network environment. This combination of commercial-off-the-shelf (COTS) components allows integrators to take a "building block" approach and rapidly deploy scalable, feature-rich network surveillance systems comprising up to thousands of cameras and viewers. BroadWare’s open architecture platform allows its partners and customers to combine their choice of technologies such as cameras, encoders and video analytics, to implement systems that evolve and scale as dynamic new technologies become available.
About BroadWare Technologies, Inc.
BroadWare Technologies is the industry pioneer in enabling distribution, viewing, storage and management of real-time video in a networked environment. BroadWare Media Server provides a highly scalable server platform for deploying distributed video surveillance systems for defense, homeland security, transportation and law enforcement applications. Partners include Boeing, EMC, and Northrop Grumman. Customers include Coalition Provisional Authority of Iraq, NASA, Siemens Corp., Chicago Midway Airport, Alaska Department of Transportation and Public Facilities, Delaware River and Ports Authority, Delaware Department of Transportation and multiple U.S. government agencies and military branches.
For more information, please visit www.broadware.com.
CUPERTINO, Calif. – June 15, 2005, – BroadWare Technologies, Inc., the leader in distributed video surveillance, today announced it has secured a new round of funding led by Kinetic Ventures, a leading venture capital investor in high growth, technology-driven businesses. The round includes new funding from corporate investor Cisco Systems, Inc., as well as follow-on investments from venture capital firms Dali Hook Partners, McKenna Ventures and Sigma Partners. This new funding round, which was substantially greater than first planned, will be leveraged to strengthen BroadWare's global presence and growth into new vertical industries including enterprise, commercial and financial markets.
"These significant investments will enable BroadWare to strengthen our current business model and help drive the future of video surveillance technologies over IP networks," said Bill Stuntz, CEO of BroadWare Technologies. "We will be able to increase our investment in aggressive new technology development initiatives aimed at rapidly expanding our product lines and our user base. We are now better equipped to assist our current channel partners in moving into new growth market segments, and better positioned to attract new partners with proven expertise within our new target markets."
BroadWare's line of video surveillance solutions is built on an open systems platform that facilitates the integration of multiple technologies from diverse vendors within a single system. This empowers BroadWare’s customers to more cost effectively expand security and surveillance technologies as new technologies emerge. BroadWare’s industry-leading technology is used by systems integrators, VARs and OEMs to create and deliver video surveillance solutions for ground, rail and air transportation companies, airports and maritime port authorities, classified military projects and government security agencies.
“Companies in need of surveillance and security solutions now realize that a digital video network based on an open standards platform is the way to go," said Gerry Kaufhold, Principal Analyst of the research firm In-Stat, based in Scottsdale, Arizona. "This new investment round in BroadWare validates and strengthens its lead in the network-based video surveillance market and will enable the company to more rapidly bring new technology to market and generate revenue from a broader customer base."
The video surveillance industry is experiencing dramatic changes driven by revolutionary new technologies from BroadWare and its industry peers. A migration from analog to digital video surveillance solutions is enabling images to be managed, analyzed, and distributed over the IT infrastructure in important new ways. The BroadWare Media Platform is a suite of server-based technologies for management, distribution and storage of video surveillance data in a network environment. This combination of commercial-off-the-shelf (COTS) components allows integrators to take a "building block" approach and rapidly deploy scalable, feature-rich network surveillance systems comprising up to thousands of cameras and viewers. BroadWare’s open architecture platform allows its partners and customers to combine their choice of technologies such as cameras, encoders and video analytics, to implement systems that evolve and scale as dynamic new technologies become available.
About BroadWare Technologies, Inc.
BroadWare Technologies is the industry pioneer in enabling distribution, viewing, storage and management of real-time video in a networked environment. BroadWare Media Server provides a highly scalable server platform for deploying distributed video surveillance systems for defense, homeland security, transportation and law enforcement applications. Partners include Boeing, EMC, and Northrop Grumman. Customers include Coalition Provisional Authority of Iraq, NASA, Siemens Corp., Chicago Midway Airport, Alaska Department of Transportation and Public Facilities, Delaware River and Ports Authority, Delaware Department of Transportation and multiple U.S. government agencies and military branches.
For more information, please visit www.broadware.com.