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: [[ticker: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.
Author: Erin Kutz
Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.
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