Nashville-based video surveillance company Smartvue Corp. announced today the closing of a $3.85 million Series A investment.
The investors include David Dorman, former CEO of AT&T and ex-chairman of Motorola, and Arthur Laffer, chairman of Nashville-based Laffer Associates and a former economic advisor to then-President Ronald Reagan, the company said in a release.
The announcement follows Smartvue’s recent move from Hill Center Belle Meade to office space on Linbar Drive in South Nashville, its hiring of multiple employees and its launching of S9M.
Martin Renkis, Smartvue founder and CEO, said the company plans to use the investment to continue to “strengthen capabilities with new solutions” and to expand its intellectual property portfolio of 22 patents.
“This new capital provides us the resources to continue to innovate and deliver the world’s leading video surveillance cloud platform,” said Renkis (pictured), adding that 2014 bookings are up 400 percent compared to this time last year.
Laffer said that with the investment, Smartvue “will continue to define the industry standard by delivering low-cost, big-data business intelligence with its elegantly simple cloud video surveillance solutions.”
The aforementioned S9M offers surveillance via a plug-and-play cloud platform that works with almost any computer, smartphone or tablet.
The employees added include (listed alphabetically) Christopher D. King, surveillance specialist; Cameron Kisner, support specialist; Janice Landis, support specialist; Benjamin Powell, marketing manager; Jessica Pruitt, administrative assistant; Blake Shaver, surveillance specialist; Jim Tully, COO; Chris White, software engineer; and David Wise, vice president of engineering.