Aimetis Closes on Series A Financing
Investment to further market expansion and new product development
Waterloo, Canada - 2010-03-01
Aimetis Corp., a global leader in intelligent video management software today announced that it has completed a $5 million Series A financing with Covington Capital Corporation (“Covington”) and VentureLink Brighter Future Fund Inc. (Venturelink).
Established in 2003, Aimetis offers intelligent IP (network) video management technologies designed primarily for the retail and transportation markets. UK based market research firm, IMS Research, estimates the market for network video surveillance equipment will grow at a CAGR of over 25% in the next few years, reaching almost $13 billion by 2013.
“Given the size and expected growth rate of the global network video surveillance market, we are pleased to invest in a Canadian company that has established a solid reputation for innovation and reliability within this burgeoning sector,” states Phil Reddon, Managing Partner, Covington Capital Corporation.
In the past few years, the growth of Aimetis has outpaced that of the market. We are very excited about the company’s future in this growing market,” commented Jim Whitaker, Partner, Venturelink.
“We are extremely pleased to have Covington and Venturelink as our partners,” said Marc Holtenhoff, CEO, Aimetis, Corp. "As established venture investors that act as true business partners, they will be instrumental to facilitate accelerated development of innovative network video solutions and rapid market expansion, while continuing to provide exceptional client care.”
About Covington Capital Corporation
Founded in 1995, Covington Capital Corporation is one of Canada’s largest and most experienced venture capital fund providers. Managing approximately $300 million in venture capital assets on behalf of institutional and retail investors, Covington invests in small-and-medium businesses throughout many industry sectors. Covington Capital Corporation is headquartered in Toronto, Ontario.
With over $250 million under management, VentureLink Funds is a diverse group of retail venture capital funds (“LSIF”). VentureLink Funds give investors access to dynamic industries like alternative energy as well as to well-diversified portfolios of established companies operating in traditional industries such as financial, manufacturing and service industries.
The company maintains a strong relationship with CI Financial Inc., who performs client services and client account administration for the Funds. For more information, please visit: www.venturelinkfunds.com.
About Aimetis (www.aimetis.com)
Aimetis Corp. is a Waterloo, Canada-based software company offering integrated intelligent video management solutions for security surveillance and business intelligence applications. Founded in 2003, the company is a global leader in intelligent video technology and is propelling the adoption of video analytics as an integral component of video management solutions. It’s unique in providing a single platform for easily migrating customers from simple analog systems to intelligent IP video systems; offering the highest levels of service and support; and providing the industry’s easiest to use products. Aimetis has distributors and certified partners in over 100 countries and serves a variety of industries, including retail, transportation and others.
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