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| Agent Vi Announces Additional $9M Investment From 21Ventures | Published by: Business Wire
www.businesswire.com
Business Wire
22/07/2008
| U.S. group closes $9 million, Series B investment in Agent Vi bringing total investment to $18 million
21Ventures, a U.S. based venture capital firm, announced today a Series B, $9 million investment in Agent Video Intelligence (Agent Vi), bringing the total investment by 21Ventures in Agent Vi to $18 million dollars.
The funding is earmarked for sales and marketing and ongoing product development.
“Agent Vi is a world leader in video analytics. This investment signals 21Ventures’ strong confidence in Agent Vi and provides the resources the company needs to insure its longevity in an industry known for long sales cycles,” said David Anthony, Managing Partner of 21Ventures.
Agent Vi’s video analytics software has revolutionized security surveillance and business intelligence. Systems equipped with the company’s video analytics software can, for example, immediately spot and report a person reaching over an unattended jewelry counter; detect a vehicle tailgating through an entry point; detect a person approaching a perimeter; or monitor how long a customer views a merchandise display – all of which provide invaluable data for increased operational security and efficiency.
"We are witnessing a growing demand for video analytics solutions,” said Itsik Kattan, CEO of Agent Video Intelligence. “The market today is eager to make use of surveillance systems combined with video analytics to extract and analyze valuable information from the captured video for applications such as security, safety, loss prevention, traffic control, and business intelligence. Agent Vi provides the only truly scalable video analytics solution capable of providing that added value for such a wide variety of applications. The increased market demand for Agent Vi's product brings significant challenges that we will meet with success thanks to the additional investment by 21Ventures.”
The investment by 21Ventures represents a Series B investment following the completion of several prior rounds of Series A investments by 21Ventures.
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