3VR Security announced it received US$12 million funding led by Menlo Ventures. As part of this transaction, Sonja Hoel Perkins, MD of the firm, will join the 3VR Board of Directors.
Founded in 2002, 3VR pioneered the first intelligent video surveillance solution, which has become a standard for the security surveillance market. In the past year, the company has released its S-Series SmartRecorder, a game-changing platform surveillance solution, forged channel partnerships with industry leaders including Diebold and Ingersoll Rand, and continued to build its base of more than 600 customers in industries ranging from retail and hospitality to banking and government. 3VR leads the market with the private facial recognition deployment, the accurate facial surveillance recognition technology and the industry's integrated video management solution.
"This financing is a testament to the burgeoning market for searchable surveillance solutions and the great momentum we have established in the industry," said Al Shipp, CEO of 3VR Security. "The ability to combine advanced analytics and biometrics into a single surveillance platform with simple integration options is one of the significant developments in the security industry. Comprehensive surveillance platforms are fast becoming table stakes for any company looking to more efficiently combat fraud and improve the overall security and profitability of their operations."