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Envysion Receives Investment from Parthenon Capital Partners
LOUISVILLE, Colo., Feb.1, 2013 /PRNewswire via COMTEX/ --
Envysion®, Inc., (www.envysion.com) the leading Managed Video as a Service (MVaaS) provider, today announced Parthenon Capital Partners, a growth oriented private equity firm with offices in San Francisco and Boston, has completed an investment in Envysion. Proceeds from the transaction will be used to provide growth capital for the company.
Envysion's CEO, Matt Steinfort, explained the decision to raise capital, saying, "Envysion has a tremendous opportunity to extend our leadership position in the video-driven business intelligence industry. Over the past several years we have continued to experience remarkable growth, have expanded into new vertical markets and have added numerous marquee national customers. We sought additional capital to enable us to further accelerate this growth and to meet the growing demand from our customers for new and differentiated services to support their cross functional uses of our application. We are thrilled to team with Parthenon, who shares our passion and excitement about this opportunity and will help us accelerate our business."
Envysion will work with Parthenon to advance the shared goal of delivering material profit improvement for the company's customers. Parthenon brings deep expertise in business services, corporate strategy and operations that will help Envysion expand its platform and value proposition for customers, as well as improve operational efficiencies.
"We are thrilled to partner with Matt and the Envysion team," said Andrew Dodson, partner at Parthenon Capital Partners. "Having spent years in and around the security and video surveillance industries, we believe that video-driven business intelligence is revolutionizing how owners and operators manage retail and restaurant locations. With cloud-based solutions like Envysion's, operators can dramatically enhance their loss prevention efforts, improve operational efficiency and increase profitability by combining data with video. We believe Envysion is the clear industry leader providing these capabilities."
David Ament, a managing partner at Parthenon, added, "Since its founding, Envysion has partnered with some of the largest, most sophisticated operators within the retail, restaurant and cinema industries. By providing these customers with powerful, easy-to-use, cloud-based solutions, Envysion has substantially increased the profitability of these customers, reduced losses, increased operational efficiency and driven the effectiveness of marketing campaigns. Parthenon is excited to partner with the Envysion team to build upon its track record of growth and lead the industry into its next phase of expansion."
Raymond James Financial Services, Inc. served as Envysion's financial advisor in the fund raising process.
About Envysion Envysion enables large, national retail, restaurant, cinema and convenience store operators to increase profitability 10-15% by putting easy-to-use, video-driven business intelligenceTM into the hands of the entire organization. Envysion created the Managed Video as a Service (MVaaS) model, which transforms video surveillance into a strategic management tool that provides instant and unfiltered business insights to users across operations, loss prevention, marketing and human resources. The MVaaS model enables Envysion to accelerate innovation by rapidly responding to market opportunity and making new capabilities immediately available to all users. Envysion's platform quickly scales to 1,000s of locations and 10,000s of users without straining the IT department or network. For more information, visit www.envysion.com or call 877.258.9441.
About Parthenon Capital Partners Parthenon Capital Partners is a leading mid-market private equity firm based in Boston and San Francisco. Parthenon utilizes niche industry expertise and a deep execution team to invest in growth companies in service industries. Parthenon seeks to be an active and aligned partner to management, either through recapitalization transactions or by backing new executives. Parthenon has particular expertise in business services, financial and insurance services and healthcare, but seeks any service, technology or delivery business with a strong value proposition and proprietary know-how. Parthenon's investment team has deep experience in corporate strategy, capital markets and operations, enabling the firm to pursue complex, multi-faceted value creation opportunities. For more information, visit www.parthenoncapitalpartners.com.
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UPDATED 4:37 AM EST - Mar 11, 2014
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