OnSSI and SeeTec have announced the completion of a $16-million private placement for OnSSI by Seacoast Capital, an institutional investor based in the USA. Seacoast’s first investment in OnSSI will be used to leverage technologies of both brands, to strengthen their sales presence and to fuel the business with BVI (Business Video Intelligence) solutions.
“We have never been better positioned to support our global customers. OnSSI and SeeTec have created a dynamic business proposition by providing open architecture based VMS and BVI to facilitate security and to support business processes, and now with this strategic investment by Seacoast, we are strongly positioned for accelerated growth through our core business and key initiatives,” says Gadi Piran, President and CTO, OnSSI.
Stephan Rasp, Managing Director of SeeTec, adds: “The IP video market is rapidly changing. For VMS companies like us it is no longer just about producing software but taking an active part as a solution specialist in increasingly complex security and business process ecosystems. The recent investment by Seacoast allows us to strengthen our position in the market and to grow market share as independent provider of VMS.”