VideoIQ Announces $7.5M, New CEO
Bedford, MA-based VideoIQ, a maker of video surveillance technology, announced today that it has pinned down $7.5 million in Series C funding, from Atlas Venture, Cisco, Matrix Partners and Tenaya Capital. The company reported $6 million in funding earlier this year in an SEC filing. It said today that the new funding will go to fueling growth and product development.
VideoIQ also announced it has hired Ed Bednarcik as its new president and CEO. He was previously CEO of Wright Line, a company focused on 911 public safety and data center technology. Before that, Bednarcik was an early employee of A123 Systems (NASDAQ: AONE).
VideoIQ’s technology is designed to store video surveillance footage for months of continuous recording, and offers HD viewing and analytics capabilities to capture more relevant information for its customers.