VideoIQ this week announced it has added Cisco to its list of investors as part of a $7.5 million package that also includes the company’s original investment group of Atlas Venture, Matrix Partners and Tenaya Capital.

The money will be used to further accelerate VideoIQ’s rapid growth and video surveillance product development, according to new VideoIQ president and CEO Ed Bednarcik.

“It always helps to have money that comes from people who understand what you’re trying to do,” he says. “It enables us to make some investments we need and also to add new customers. Having Cisco as part of the group helps to give our company some credibility in the market.”

VideoIQ’s iCVR cameras and encoders have up to 500GB of onboard storage for months of continuous video recording, while also reducing network traffic and bandwidth consumption by more than 90 percent. VideoIQ’s all-in-one solutions deliver up to 1080p HD video and calibration-free adaptive analytics to provide perimeter protection for critical infrastructure, commercial and industrial facilities.

“End users are demanding higher resolution,” says Video IQ VP of marketing Mark Gally, noting that’s all VideoIQ sells.

New Leader Brings New Enthusiasm

Bednarcik, who previously served as CEO of Wright Line, a global leader in the design and manufacture of innovative 911 public safety and data center solutions, “had a lot of experience with growing companies and I understand where the market is going” when it comes to the shift from analog to digital security.
Prior to leading Wright Line, Bednarcik was an early employee of A123 Systems, a leading supplier of high-power lithium-ion batteries, where he served as vice president and general manager. Bednarcik has also held key executive roles at American Power Conversion (APC), including corporate officer, vice president of global sales, and vice president and general manager of the Business Network Solutions Group, the company’s largest division.

“There is tremendous potential in the security market,” Bednarcik says. “There hasn’t been a significant investment in physical security, but that’s going to change. I think people finally feel comfortable with the technology, especially on the digital side, and users are going to start pushing for more of that because of bandwidth concerns.”

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D. Craig MacCormack

Craig MacCormack is a veteran journalist with more than 15 years experience covering local and national news and sports as well as architecture and engineering. He joined Commercial Integrator in January 2011. Follow him on Twitter: @CraigMacCormack.

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