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Steve Russell

Intel invests $15m in Prism SkyLabs

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Wednesday, October 23, 2013

Prism Skylabs, a two-year-old startup founded by Ron Palmeri and 3VR’s Steve Russell today announced a $15 million Series B funding round led by Intel Capital, Intel Corporations’ investment and M&A business. The round included investments from Presidio Ventures, Triangle Peak, Data Collective, Expa, and some existing investors, Russell told me.

Prism Skylab is a cloud service that transforms any video camera “into visual merchandising, auditing and business intelligence tool that can be accessed in real time from any device.”

“On the business side, it’s hard to overstate the value of having [an investor] like Intel for a company like Prism,” Russell said.

The funding round was announced today in San Diego at the 14th Annual Intel Capital Global Summit where Intel awarded a total of $65 million in funding to 16 companies.

“At this conference we are able to look at how Prism might integrate with next-gen mobile devices [as well as the possibilities, for example, of using] new techniques in a data center that will allow us to increase our performance over 100-fold.”  

“The core of our business is the R&D and product work we do, and we’ll continue to invest in that,” Russell said, but the bulk of the funds from this round will be used for sales and marketing.

Since its launch, Prism has “brought on a host of interesting first customers, the new challenge for the business is to continue to serve the large customers we’ve won already and to build out our sales and marketing team to expand [the customer base] even further.”

Prism SkyLabs has “well north of 50 customers” that include Fortune 500 companies and well-known brands that fall into the category of “large distributed retail companies.”

“We solve one or two important problems for them,” Russell said. “We provide a set of data and instruments in the real world that heretofore you could only get for online properties. … The other value we provide is allowing global brands to peek in and better manage their stores,” he added.

“It’s the analytic and visual [capabilities] that are really the secret sauce,” he said.

Prism now has about 30 employees and Russell expects to double the size of the company within the next 12 months.

Prism raised $7.5 million in funding in October 2012.

“Intel Capital has long been known as a hands-on investor,” Russell said. Among the ways the investor will assist Prism include “providing networking and matchmaking [among] its truly vast portfolio [of partners].”

The Intel Summit “[has] been an incredibly productive and fun three days for us,” he said.

Prism Skylabs looks at new funding round

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Thursday, June 13, 2013

Prism Skylabs, a cloud-based service that enables business owners to use data from existing video surveillance cameras for business intelligence, marketing and other purposes, is looking at doing a $10 million Series B funding round, according to a report published on PE Hub today.

I emailed Steve Russell, Prism Skylabs CEO and founder of 3VR, this morning to ask when the new funding round would happen. He didn't give me an definitive answer, but said he'll keep me posted.

The PE Hub report was a glowing review of Ron Palmeri of MkII Ventures. Palmeri co-founded Prism Skylabs with Russell and is involved in a number of other non-security ventures. In that report, Palmeri is quoted as saying that Prism Skylabs "is probably worth about $80 million."

Last fall, Prism launched a partner program and also raised $7.5 milliion in funding.

 

 

 

 

Prism Skylabs launches partner program

Integrators can make ‘$100-plus per site per month’
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11/27/2012

SAN FRANCISCO—Prism Skylabs, a cloud-based service that enables business owners to use data from existing video surveillance cameras for business intelligence, marketing and other purposes, last week launched a partner program.

Prism Skylabs raises $7.5 million

Startup’s product will be available for download in November
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10/19/2012

SAN FRANCISCO—Prism Skylabs, a startup company that "leverages data from existing video surveillance cameras to unlock information on customer patterns, trends and behaviors," on Oct. 16 announced it had raised another $7.5 million in funding.

Prism Skylabs raises $7.5 million

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Thursday, October 18, 2012

Prism Skylabs has raised another $7.5 milliion in funding, the company announced today. Here's a link to the story. I've put a call into founder Steve Russell, (also founder of 3VR) and expect I'll get a chance to speak to him in the next few day. Prism Skylabs, which offers a cloud service that "leverages data from existing video surveillance cameras to unlock information on customer patterns, trends and behaviors",  was launched just before ASIS 2012. Here's an ssnTVnews video interview I did with Steve Russell at ASIS 2012, where he talks about the company, and its first investment round ($1.5 million from the SV Angel, Yuri Milner, Eric Schmidt, Aaron Patzer, Brad Garlinghouse, CrunchFund and others)