ObjectVideo Appoints to Board of Directors Jack Kemp, Founder of Kemp Partners; Mario Morino, Special Partner, General Atlantic Partners; and E. Scott Beattie, Chairman and CEO of Elizabeth Arden, Inc.
RESTON, Va.–(BUSINESS WIRE)–Dec. 16, 2004–
ObjectVideo Well-Positioned to Continue Fast Growth with $11 Million Raised in Series C and Distinguished Board of Directors
ObjectVideo(TM), the leader in intelligent video surveillance software, today announced it has appointed to its Board of Directors Jack Kemp, Founder of Kemp Partners and the 1996 Republican Vice Presidential candidate; Mario Morino, Special Partner, General Atlantic Partners; and E. Scott Beattie, Chairman and CEO of Elizabeth Arden, Inc. The company also raised $11 million in a Series C round led by Novak Biddle Venture Partners.
“We have very talented employees and an experienced management team along with a great product offering and a strong and growing install base,” said Raul J. Fernandez, Chairman, President and CEO of ObjectVideo. “Combine that with world class investors and a distinguished board of directors and we are well-positioned to transform physical security through the use of advanced technologies.”
In addition to current ObjectVideo investors Novak Biddle, ABS Ventures, Updata Venture Partners and CMGI, new investors include several partners from General Atlantic Partners and Washington-area businessmen Rick Kay, Ted Leonsis, Jeong Kim and Jim Kimsey. The capital will be used to further fuel the adoption of ObjectVideo’s software, including a joint offering with partner Texas Instruments that will make intelligent video surveillance technology more accessible to multiple industries by enabling it to reside directly on devices such as video cameras and digital video recorders.
“The global war on terror will be won in part by leveraging technology,” said Jack Kemp. “ObjectVideo will play an increasingly prominent role in the effort to protect America.”
Based on artificial intelligence called “computer vision,” ObjectVideo’s intelligent video surveillance software is deployed across the U.S. to secure critical infrastructure and protect against terrorism and other threats. Customers include the Department of Homeland Security’s Customs and Border Protection Bureau, the Department of Defense, the U.S. Air Force, Port of Jacksonville, Port Everglades, Miami International and Reagan National airports, and a wide variety of private sector businesses.
“ObjectVideo is an example of how to effectively turn leading-edge science into a reliable software product,” said Mario Morino. “The caliber of ObjectVideo’s customers is a testament to that.”
In addition to Morino, Kemp, Beattie and Fernandez, other members of ObjectVideo’s Board of Directors include John F. Burton, Managing General Partner, Update Partners; and Andrea Kaufman, Partner, Novak Biddle Venture Partners.
About ObjectVideo, Inc.
ObjectVideo provides intelligent video surveillance software for the protection of critical infrastructure and high-risk environments including borders, airports, seaports, oil refineries, chemical and nuclear plants and water treatment facilities. Its software is based on patented computer vision technology and provides the security market with an advanced ability to detect, classify, track and analyze threats. With ObjectVideo’s software, customers gain the ability to proactively address threats, improve security planning and enhance overall effectiveness.
On the Net: www.objectvideo.com