Budgeting, Planning & Forecasting

Budgeting, Planning & Forecasting

July 08, 2011

ORIX Venture Finance Offers $12.5 Million Commitment to DVTel

DVTel, Inc. a company in Smart Security Solutions for video surveillance has received $12.5 million customized debt financing from ORIX Venture Finance, a provider of growth capital to mid- and late-stage private companies.

This financing will be used to refinance debt and support the growth plans of the Ridgefield Park, N.J.-based company. It also marks the first facility to close under the leadership of Michael David and William Bishop, the recently-announced new Co-Heads of ORIX Venture Finance.

Jeff Bede, Principal in ORIX Venture Finance's Washington, D.C. office, who led this transaction said, “"DVTel has a compelling product offering in an exciting market, We are delighted to complete this financing and to have the opportunity to partner with SCP Partners, who has been instrumental in DVTel's prior growth and success. We look forward to working with this experienced management team.”

DVTel's software solutions allow enterprise clients to utilize their existing network infrastructure for surveillance and monitoring of physical assets and facilities, which increases the ROI to its customers.

DVTel provides a range of security IP cameras and video encoders and launched a comprehensive mobile app which provides a real-time monitoring and recording platform that is highly controllable from the field, and available for the Apple, Android (News - Alert) and Windows operating systems with Google Earth integration.

Edmundo Gonzalez, Principal at SCP Partners said, “Adding ORIX Venture Finance as a financial partner is a very positive step for both DVTel and SCP Partners, ORIX Venture Finance's commitment to adapt to its clients' evolving needs and to offer flexible capital solutions is a great fit for us.”

Yoav Stern, DVTel's CEO said, “"We're pleased that ORIX Venture Finance has demonstrated its confidence in our business model, we believe it is crucial to have committed financial partners that understand our market, growth and financing needs.”

In other company news, TMCnet reported that DVTel's Latitude Network Video Management System (NVMS) is now Intransa Video Appliance SELECT Partner Certified for the Intransa Maximum Flexibility and Maximum Choice product lines.

Mandira Srivastava is a TMCnet contributor. She works as a full-time writer, ghostwriter and blogger, and has more than two years of experience in print and Web media. She has also worked on company brochures, website content and product descriptions, as well as proofreading and editing content. To read more of her articles, please visit her columnist page.

Edited by Rich Steeves

blog comments powered by Disqus