Smartvue Raises Cash for New Growth

Smartvue Corporation, a cloud surveillance and security company, announced on April 28 that it has secured $15 million in new investments to support its rapid growth.

The announcement was made at Interop, an IT and technology conference, in Las Vegas, and the new money is earmarked for financing its cloud video surveillance and IoT video platform. Smartvue secured the money through funds managed by affiliates of Fortress Investment Group, a diversified global investment firm with about $67.5 billion in assets under management.

“Smartvue provides elegantly simple cloud video surveillance and IoT video infrastructure that generates new recurring revenue for commercial and residential service companies,” said Martin Renkis, CEO, Smartvue Corporation. “This new financing supports the current opportunities we have with internet service providers, cable companies, telcos, IoT device companies and cloud storage providers to deliver globally scalable and secure video surveillance capture, storage, management, and distribution.”

Smartvue’s rapid growth has been driven by increased demand for video surveillance services in both the commercial and residential markets as well as opportunities to provide these services embedded into IoT devices such as televisions, game consoles, point of sale systems, and home automation solutions.

“We have developed a comprehensive technology platform to provide global video services for IoT companies,” said Toby Cahoon, CTO, Smartvue. “Our systems enable these companies to quickly and cost-effectively embed video services into almost any device and generate new value for their customers, creating more ‘sticky’ customer relationships and delivering new revenue streams for themselves.”

With this new infusion of cash, Smartvue hopes to make greater strides in taking over the video surveillance space within the IoT, while expanding its portfolio of new IoT applications.