Ivideon Cloud Surveillance Service Has Raised $8 Million in Investment
Venture funds of Rusnano Sistema SICAR and Skolkovo Ventures invested in the promotion of a Russian IT start-up in the markets of Russia, the USA, and Europe
The Rusnano Sistema SICAR venture fund, created jointly by Sistema JSFC and RUSNANO, and Skolkovo Ventures Industrial Fund, created with the participation of RVC capital, jointly invested $8 million in the framework of a new round of financing by Ivideon, developing a platform solution for cloud-based video surveillance (VSaaS), unformed products (VSaaS), and unformed gliders of a cloud-based video surveillance solution (VSaaS), to create graphics for cloud-based video surveillance (VSaaS), and to unveil graphics, to create a cloud-based video surveillance solution (VSaaS), to create graphics, to create a cloud-based video surveillance solution (VSaaS), to create graphics, to create graphics for cloud video surveillance (VSaaS); Skolkovo Ventures also acted as an investment advisor and syndicated the deal.
Ivideon, a resident of the IT cluster of Skolkovo Foundation, is one of the most successful IT developers on the Russian market. In just eight years since the company was founded, more than three million companies and individuals around the world have used the services of a cloud-based smart video surveillance platform.
“The secret of the success of Ivideon for business is that the IT solution we developed not only makes it possible to record and save video, but also analyse it, increasing the efficiency of business processes, marketing, and sales, the level of security, transparency and competitiveness of companies. In particular, Ivideon makes it possible to recognize people’s faces to identify unwanted visitors and signal the occurrence of queues in stores,” said Andrei Yudnikov, CEO of the company.
Giants such as Philips, Honeywell, Google, Megafon, YandexTaxi, Acronis, Gett, PIK Group, Tinkoff Bank, Moscow Jewelry Factory, Dodo Pizza and many others are among the company's clients. The company's partners are the largest manufacturers of IP cameras, occupying more than 40% of the world market.
Ivideon's cloud-based video surveillance service plans to increase its share of international revenues to 40% over the next three years. Millions of users from more than 100 countries of the world choose the Russian Ivideon application because it can be integrated with any video camera or video recorder, and the interface of the service is translated into ten languages.
The raised monetary funds, Ivideon plans to direct to the promotion of the solution in foreign markets, as well as to expand the client base five times over three years, primarily due to an increase in the number of medium and large businesses connected to the service. At the same time, the company plans to increase the share of international revenues to 40%.
“As for our competitors in Europe and the USA, our service has no analogues in terms of availability and ease of installation for businesses of any size. In addition, our solution cannot only be easily and cheaply connected with the help of professional video analytics developed by us, but any company owner or marketer can also easily assess the problems identified through video surveillance and correct certain business processes,” says Andrey Yudnikov.
Rusnano emphasizes that Ivideon has every chance to become one of the leading players in the field of cloud video surveillance and video analytics for the corporate and BTC sectors.
“We are proud to be the lead investor in the financing round of the Russian company Ivideon. The main factors of investment attractiveness for us were the potential of the market and the promising application of technology both in Russia and abroad. According to experts, the volume of the global cloud video surveillance market will grow at a rate of 22% annually and by 2022 will reach $6 billion. Today, a huge number of players, including the “smart city” and “smart home” systems, shapes the demand. Currently, Ivideon is one of the largest players on the Russian video surveillance market with a share of about 30%,” says Sergey Vakhterov, managing director of UK RUSNANO and a member of the investment committee of the Rusnano Sistema SICAR fund.
“IVideon is a platform solution for the video surveillance and video analytics market, which has made a big leap in the last 3-5 years. The competitive advantage of the company is the ease of implementing solutions in any field of application, from B2C to B2B and B2G markets. At the same time, iVideon remains open for integration with external video analytics modules actively financed in recent years by both Russian and international investors,” emphasizes Vladimir Sakovich, Managing Director of Skolkovo Ventures.
“The deal with Ivideon became the first investment of a joint fund of RVC and Skolkovo, which was launched a year ago. The company operates in a highly promising market for video surveillance and analytics, where key technological reserves have already been created, and the products of Russian developers are widely in demand abroad and, in many respects, are superior to world analogues. The fund's investments will allow the Ivideon team to scale up their business and expand into international markets,” commented the deputy general director and RVC investment director Alexei Basov.