Video synopsis solutions developer BriefCam has raised $6.5 million in a round of financing led by Motorola Solutions Inc. (NYSE: MSI) through its strategic investment arm Motorola Solutions Venture Capital.
Headquartered in Neve Ilan near Jerusalem, BriefCam provides video synopsis solutions for the rapid review, analysis and indexing of surveillance video. The investment will be used to expand BriefCam’s worldwide marketing and sales activities. BriefCam's patented video synopsis technology enables the rapid review of captured video, with an index to the original source, whether video feed or archival footage, for on-the-spot event tracking, forensics and evidence discovery.
This technology fulfills the otherwise unmet need to browse video, investigate and identify incidents rapidly, and take action. The company's award-winning technology gives users the ability to review rapidly, compacting hours of events into a “brief” that takes minutes to view. The company’s customers include police, military, border control and other homeland security agencies, as well as security operations at municipalities, transportation authorities, building and campus security offices, retail loss prevention and more.
The investment is Motorola Solutions’ second in the Israeli market.
Motorola Solutions Venture Capital managing director Boaz Or-Shraga said, “We have been looking into various companies in the Israeli hi-tech industry, specifically in the area of public safety technologies. We were happy to find a great investment like BriefCam to expand our exposure in the growing video space. The substantial growth in the amount of surveillance videos created each year provides new opportunities for public safety and other industries, and we're glad to seize such an opportunity."
BriefCam CEO Dror Irani said, "It is our hope that Motorola Solutions’ experience and global presence opens new opportunities for BriefCam in areas such as public safety, safer cities and law enforcement, as well as enterprise and retail. We expect Motorola Solutions’ global presence will also assist BriefCam greatly in accelerating penetration of new geographic regions where we have not been active to date."
Briefcam chief scientist Prof. Shmuel Peleg, VP R&D Dr. Yaron Caspi, and chairman Gideon Ben-Zvi founded the company in 2007.
Published by Globes [online], Israel business news - www.globes-online.com - on March 13, 2013
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