Envysion Reports Exceptional 1st Half of 2011 Delivering 70% Growth in Recurring Revenue
Major Customer Deals, Partner Announcements, Industry Accolades Signal MVaaS Acceleration
LOUISVILLE, Colo., Aug. 22, 2011 /PRNewswire/ -- Envysion®, Inc., (www.envysion.com) the leading Managed Video as a Service (MVaaS) provider, today announced record results and outstanding growth for the company's first half of 2011. The half was highlighted by 70% growth in recurring revenue run-rate and strong segment expansion with rapid adoption in the retail and cinema markets.
"2011 has already been a phenomenal year for Envysion, having signed large deals with Cinemark, By the Rockies and several other new customers. We now have the largest MVaaS deployments in the restaurant, retail and cinema segments, further demonstrating the broad applicability of our MVaaS solutions and the tremendous impact we deliver for our customers. We are excited to continue this growth and further expand the MVaaS market," says Matt Steinfort, president and CEO of Envysion. "During the first six months of the year we also witnessed incredible market validation, both for the industry and specifically for Envysion with the success of our second annual Managed Video Summit, partnerships with major industry players and recognition from industry awards."
Significant Growth and Adoption of Envysion's MVaaS Solutions
In the first half of 2011, Envysion continued to realize strong growth in the restaurant segment, while also rapidly expanding into the cinema and retail segments. The company's exceptional growth is highlighted by several large new customers, including:
- Industry leading big box retailer selected Envysion and will immediately begin an enterprise-wide deployment of the Envysion Insight solution to more than 1,200 retail locations
- By the Rockies, LLC, the second largest franchisee of Carl's Jr. ® and Hardee's®, selected the Envysion Insight solution for all 100+ of its locations
- Cinemark USA selected Envysion as its MVaaS provider and began initial rollout
- Garden Fresh Restaurant Corp., operator of 120 restaurants under the Sweet Tomatoes and Souplantation brands, selected Envysion Insight as its exclusive video solution
- Wireless City, a Premium Retailer for Verizon Wireless selected Envysion as its exclusive video provider for all locations
- Wireless Express, one of the largest Preferred Retail partners of Sprint with 50+ retail locations, selected Envysion for a complete enterprise rollout
Industry Acknowledgement and Acceptance of MVaaS
In June, Envysion hosted the second annual Managed and Hosted Video Summit. The sold out event saw attendance increase 50% from last year with attendees representing MVaaS and hosted video providers, industry and channel partners, thought leaders and investors. Sessions highlighted the tremendous opportunity for MVaaS solutions across a myriad of customer verticals and applications.
"The excitement and energy at the Summit really demonstrated the building industry traction for MVaaS solutions. There was a clear consensus that there is a huge opportunity to disrupt the traditional video surveillance market, but we need to come together as an industry to drive customer understanding and appreciation of MVaaS and hosted solutions," says Carlos Perez, vice president of product and marketing at Envysion.
At the Summit, Sony announced a strategic partnership with Envysion to jointly develop end user solutions leveraging Envysion's innovative MVaaS platform and Sony's cutting-edge surveillance technologies. The companies will also work together on a set of commercial and co-marketing efforts, initially targeting cinemas and retailers, including big box and small footprint stores, restaurants, service providers and convenience stores.
Of the partnership, Mark Collett, General Manager of Sony's Security Systems Division, says, "We see Envysion as a leading change agent for transforming the video surveillance market, and Sony's leading network video surveillance products are a natural fit for Envysion's best-in-class MVaaS solution."
In addition to the market validation of partnering with a household brand like Sony, Envysion was selected for the 2011 Red Herring Top 100 North America Award for its SaaS-based solutions further confirming Envysion's growth potential and innovative MVaaS solutions. Red Herring's Top 100 North America list has become a mark of distinction for identifying promising new companies, recognizing the leading private companies from North America and celebrating these startups' innovations and technologies across their respective industries.
Envysion enables businesses to increase profitability 10-15% by putting easy-to-use, video-based business intelligence into the hands of the entire organization. Envysion's Managed Video as a Service (MVaaS) solutions transform traditional video surveillance and enterprise business intelligence from niche applications used by a handful of users into a strategic management tool that provides instant and unfiltered business insights to users across operations, loss prevention, marketing and human resources. Envysion created the MVaaS model, which brings the Software as a Service (SaaS) approach to video and disrupts the traditional video market. The MVaaS model enables Envysion to accelerate development and innovation cycles by making new capabilities immediately available to all users and eliminates the technology obsolescence that comes with the model year development cycles of traditional video providers. Envysion's highly scalable and easy-to-manage MVaaS platform reaches across departments to 1000s of users and trusted third party partners without straining the IT department or network. Today, Envysion's solutions are driving bottom line profitability improvements for large, national retail, restaurant, cinema, hospitality and convenience store operators. For more information, visit www.envysion.com or call 877.258.9441.
SOURCE Envysion, Inc.
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