Waterloo Company a Leader in Network Video Surveillance Technology
TORONTO, March 1 /CNW/ - Covington Capital Corporation ("Covington") is pleased to announce the completion of a CDN$2.5 million investment in Waterloo-based Aimetis Corp. ("Aimetis", the "Company") as part of a total financing round of $5 million.
Established in 2003, Aimetis (www.aimetis.com) is a provider of network video surveillance technologies designed primarily for the retail and transportation markets. Aimetis' key differentiator is that they offer an innovative product solution that provides video surveillance software combined with artificial intelligence base video analytics technology.
It is this unique integration of both video-surveillance and analytics technology that allows their clients to receive alerts in real-time as well as review and analyze activity almost immediately. The speed with which Aimetis' software is able to capture, store, and provide for review of detailed video data is tremendous. The Company's technology is extremely valuable to both small and large scale enterprises requiring flexible, efficient, and reliable surveillance systems. The Company's client base includes both local enterprises and global leaders such as the City of Oshawa, Loblaws, Munich Airport, Netherland Railways, BMW, and Mercedes.
"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.
Adds Marc Holtenhoff, CEO of Aimetis, "We are extremely pleased to have Covington as our partner. With Covington's solid standing as a venture investor that acts as a true business partner, we look forward to expanding our development of innovative network video solutions, accelerating our market expansion, and continue with providing exceptional client care."
Aimetis Corp. is a software company offering integrated intelligent video management solutions for security surveillance and business intelligence applications. 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. Aimetis products are based on innovative, open technologies that provide customers with a single platform for migrating from analog video to intelligent IP video solutions.
Aimetis Corp. is a Canadian-based company, recognized by industry analysts for its product innovation and growth strategies. The company has distributors and certified partners in 89 countries. More information is available on our website www.aimetis.com.
About Covington Capital Corporation
Founded in 1995, Covington Capital Corporation (www.covingtonfunds.com) 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.
SOURCE Covington Group of Funds
For further information: For further information: Fiona Robertson, EVP Sales and Marketing, Covington Group of Funds, (416) 365-9155, firstname.lastname@example.org