JANUARY 17, 2006
3VR ANNOUNCES SERIES B FUNDING LED BY KPCB
Kleiner Perkins, Caulfield & Byers Leads Round, joined by VantagePoint Ventures and In-Q-Tel; Focuses on Bringing Substantive Advancements in Physical Security
San Francisco, CA, January 17, 2005 - 3VR Security, Inc., pioneer of Intelligent Video Management Systems (IVMS) that convert raw, unstructured video feeds from security cameras into compact, intelligently structured searchable information, today announced that it has raised $10 million in Series B funding led by technology heavy-weight Kleiner Perkins Caulfield & Byers (KPCB), an innovator in providing venture and relationship capital services to entrepreneurs to build important new companies.
VantagePoint Venture Partners, one of the largest venture capital firms in the United States and 3VR's Series A investor, and In-Q-Tel, a private, strategic venture firm funded by the Central Intelligence Agency (CIA) and the U.S. Intelligence Community, join KPCB in the financing which will enable 3VR to broaden engineering and sales efforts to meet the increasing demand for effective, comprehensive and cost effective physical security.
"According to JP Freeman, companies spend $3.5 billion on physical security every year and yet the sector has seen minimal innovation even as threats have increased-leaving businesses vulnerable," said Ted Schlein, Partner at Kleiner Perkins Caufield & Byers. "3VR trumps traditional physical security methods through the application of the some of the most innovative technology coming out of Silicon Valley today. For the first time, companies and organizations can prevent loss, reduce expenses and accelerate investigation and recovery by turning vast amounts of raw video into intelligent, searchable, actionable data using the 3VR Intelligent Video Management System. 3VR is delivering the IVMS technology that will set the standard for physical security in the future."
"Meeting today's security challenges requires more effective monitoring and investigations as well as increased staff productivity," said Stephen Russell, co-founder and CEO of 3VR Security. "3VR IVMS meets the challenge with an extensible enterprise platform that delivers highest ROI and no integration risk. We look forward to driving innovation in this space and are pleased to welcome Ted to our Board. KPCB expertise in data management and security will be helpful as we strive to continue to make it easier for organizations to protect important assets through IVMS."
The 3VR Intelligent Video Management System is a critical component of physical security strategies in a variety of businesses across multiple sectors including financial services, financial-institutions, biotech and pharmaceuticals, and government. For more information about 3VR IVMS, visit www.3vr.com.
About 3VR Security, Inc.: 3VR Security, Inc. was founded to address the most pressing issue in the security industry today: overwhelming data stores. 3VR Security, Inc. developed the third generation video recorder; an appliance that not only performs the functionality of a high-end Digital Video Recorder (DVR), but also allows security professionals to find, sort and respond to data. By making complex technology simple, scalable and available to corporate security buyers, 3VR Security, Inc. helps companies to effectively respond to their security challenges.
About KPCB: Since its founding in 1972, KPCB has backed entrepreneurs in 450 ventures, including AOL, Align, Amazon.com, Citrix, Compaq Computer, Electronic Arts, Genentech, Genomic Health, Genprobe, Google, Hybritech, IDEC Pharmaceuticals, Intuit, Juniper Networks, Netscape, Ligand Pharmaceuticals, Lotus, Nuvasive, Sun Microsystems, Symantec, Verisign and Xilinx. KPCB portfolio companies employ more than 250,000 people. More than 150 of the firm's portfolio companies have gone public. Many other ventures have achieved success through mergers and acquisitions. www.kpcb.com
About In-Q-Tel: In-Q-Tel is a private, independent, not-for-profit venture group established by the CIA. Launched in 1999, our mission is to identify and invest in companies developing cutting-edge technologies that serve United States national security interests. Working from an evolving strategic blueprint defining the Intelligence Community's critical technology needs, we engage with entrepreneurs, established companies, researchers, and venture capitalists to deliver technologies that pay out in superior intelligence capabilities for the CIA, DIA, FBI, NGA, and the larger Intelligence Community (IC). In-Q-Tel concentrates on three broad commercial technology areas: software, infrastructure and physical and biological materials. To date, In-Q-Tel has engaged with nearly 90 companies and delivered more than 100 technology solutions to the IC. To learn more about In-Q-Tel, please visit www.in-q-tel.org.
About VantagePoint Venture Partners: VantagePoint Venture Partners is one of the nation's largest venture capital firms that actively works with management teams and its strategic partners to build technology leaders. As an active multi-stage investor, the Firm provides funding and resources for all stages of a company's lifecycle from seed round through late stage and privately negotiated investments in public companies. VantagePoint is based on a full-service 'Partner-Team' approach that provides entrepreneurs with a blend of technology, venture capital, operations, and corporate-finance expertise. As hands-on investors, the Firm is focused on technology investments in the CleanTech, Communications, Healthcare, Semiconductor, and Software and Internet sectors. www.vpvp.com
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Contact: 3VR Security, Inc., 415.495.5790, press@3vr.com
©2009 3VR Security, Inc.