This is an excerpt of our funding announcement in Potomac Tech Wire on April 26, 2016.
Vidsys, a Vienna-based developer of physical security information management software used at large events such as marathons and global summits, said on Tuesday it has raised $11 million in a new round of funding, co-led by previous backers NewSpring Capital, Atlanta Equity, Flybridge Capital Partners and JVax Investment Group. New investor Harmony Partners also took part in the round, which the company will use to support its growing international business with customer support operations and product development initiatives. The company also plans to expand its Internet of Things (IoT) and virtualized services platform apps for smart and future cities, intelligent transportation and advanced business intelligence tools. “With our software platform being deployed and expanded more rapidly across multiple markets and regions, this new investment will allow us to scale the business to align more fluidly with the growing base of our customers and their key initiatives,” said founder and CEO James Chong.
