BriefCam, a provider of systems for video synopsis and indexing of surveillance camera content, announced it secured the first round of funding totaling US$2.6 million. The funding was led by Aviv Venture Capital along with a group of professionals, including many from the CCTV surveillance industry, and they were joined by additional investors in Israel. The funding is largely being allocated for expanding sales and marketing efforts.
The company launched its first-of-its-kind technology earlier this year, allowing for one day of surveillance camera footage to be summarized into as little as a few minutes, enabling the rapid review and indexing of captured video. BriefCam's video synopsis provides a summarized video clip of the original full-length video footage. The synopsis is made possible by presenting concurrently multiple objects and activities that have occurred at different times.
With affordable video summarization, BriefCam enables the rapid review of captured video to assess reported incidents and occurrences, as well as the uncovering and discovery of incidents that may never have been exposed in the past due to the high cost of manual video review.
For example, an increasing number of cities are using surveillance cameras as a basic element of their security management. Thousands of these cameras are constantly recorded in order to document a variety of crimes and other incidents. However, when evidence for a specific event is required for investigation purposes, as well as during real-time event management, the time and manpower needed for browsing the captured video is rarely possible. Using BriefCam video synopsis, the surveillance operator is able to identify a street fight or any other event which occurred during a time frame of many hours within a few minutes.
Yoav Chelouche, Managing Partner at Aviv Venture Capital, said, “We are thrilled to lead this round and invest in an outstanding company such as BriefCam. As a leading venture capital firm that keeps a constant eye out for noteworthy investment opportunities, we've been observing the CCTV surveillance market and its ever-rising potential for some time now, and it quickly became clear to us that BriefCam is well positioned to become a true global industry leader. Especially in difficult economic times, BriefCam's surveillance technology will allow companies large and small to maximize security, while saving on manpower, time and money.”
"Being that security needs often require immediate responses, instant answers can provide the need information to plan the proper course of action”, said Gideon Ben-Zvi, Chairman and President of BriefCam. “BriefCam's technology serves a wide range of small and large enterprises, including security bodies, financial institutions, retail shops, transportation authorities and individual homeowners. Whether preventing theft or terrorism, or enhancing management of workers, BriefCam is enabling managers to reduce costs, save time and manpower and receive the rapid results they need.”
"The new capital will help BriefCam expand its sales and marketing worldwide, to continue to spread the word of our state-of-the-art video summarization technology for the CCTV market,” said Ben-Zvi.