Envysion, the Managed Video as a Service (MVaaS) provider, announced Parthenon Capital Partners, a growth oriented private equity firm with offices in San Francisco and Boston, has completed an investment in Envysion. Proceeds from the transaction will be used to provide growth capital for the company.
Envysion, the Managed Video as a Service (MVaaS) provider, announced Parthenon Capital Partners, a growth oriented private equity firm with offices in San Francisco and Boston, has completed an investment in Envysion. Proceeds from the transaction will be used to provide growth capital for the company.
Envysion's CEO, Matt Steinfort, explained the decision to raise capital, saying, "Envysion has a tremendous opportunity to extend our leadership position in the video-driven business intelligence industry. Over the past several years we have continued to experience remarkable growth, have expanded into new vertical markets and have added numerous marquee national customers. We sought additional capital to enable us to further accelerate this growth and to meet the growing demand from our customers for new and differentiated services to support their cross functional uses of our application. We are thrilled to team with Parthenon, who shares our passion and excitement about this opportunity and will help us accelerate our business."
Envysion will work with Parthenon to advance the shared goal of delivering material profit improvement for the company's customers. Parthenon brings deep expertise in business services, corporate strategy and operations that will help Envysion expand its platform and value proposition for customers, as well as improve operational efficiencies.
"We are thrilled to partner with Matt and the Envysion team," said Andrew Dodson, partner at Parthenon Capital Partners. "Having spent years in and around the security and video surveillance industries, we believe that video-driven business intelligence is revolutionizing how owners and operators manage retail and restaurant locations. With cloud-based solutions like Envysion's, operators can dramatically enhance their loss prevention efforts, improve operational efficiency and increase profitability by combining data with video. We believe Envysion is the clear industry leader providing these capabilities." David Ament, a managing partner at Parthenon, added, "Since its founding, Envysion has partnered with some of the largest, most sophisticated operators within the retail, restaurant and cinema industries. By providing these customers with powerful, easy-to-use, cloud-based solutions, Envysion has substantially increased the profitability of these customers, reduced losses, increased operational efficiency and driven the effectiveness of marketing campaigns. Parthenon is excited to partner with the Envysion team to build upon its track record of growth and lead the industry into its next phase of expansion."