Motorola makes $6.5m investment in BriefCam
Video synopsis provider BriefCam has a brand new $6.5 million investment led by Motorola Solutions Venture Capital, the investment arm of Motorola Solutions.
I spoke to Droro Irani, CEO and president of BriefCam today who told me this is a Round 3 investment for Briefcam, but that Motorola is a new investor and new strategic partner for BriefCam.
Irani is excited about the investment and the fact that Motorola joined “forces with us on the business side.” Motorola signed a worldwide reseller agreement with BriefCam. While the investment arm and business side of Motorola are separate businesses, the deals happened at about the same time, Irani said.
The new funds will be used to expand BriefCam’s presence in the U.S., China, South Asia, and other locations where Motorola has a presence.
BriefCam has “a lot of customers on the safe city [vertical] in the U.S.,” Irani said. He expects Motorola to introduce BriefCam to its many customers who work on “similar government-related projects,”
BriefCam’s flagship product is the Video Synopsis solution which enables the quick review, analysis and indexing of video surveillance footage.
Irani said BreifCam has had a lot of success in the U.S. and China with its “on demand” concept.
“The mindset and technology is still led by the U.S., and in China, there’s been a dramatic increase in the use and budget [for] public safety [installations],” he said.
The company has “several installations that include thousands of cameras and the new architecture allow us … to support really big installations like those that are typical in safe city installations,” he said. On the commercial side, BriefCam is looking to grow in the hospital, higher ed and critical infrastructure verticals. BriefCam and partners will be showcasing its solutions at ISC West, he said.
The funding round included participation from all of BriefCam’s exisiting investors. Another new investor is Hebrew University. “In a way it closes the circle,” Irani said. “Our IP comes out of Hebrew University and now [the university’s fund] decided to join in.”