Location: Sunnyvale, CA
Product or Service: Avidence is developing an open-source platform that will allow customers to develop business-focused video applications, and incorporate video into existing business applications. The company is still in the development phase, so its too early to comment on product specifics. However, their intention is to expand business video beyond its niche in conferencing and physical security.
Avidence was founded on the principle of delivering the power of sight to mainstream enterprise applications, said Frank Bishop, CEO. With the Avidence system it is possible to automate very complex tasks that previously were dependent upon human sight.
The Avidence Video Application Server will have the ability to organize raw video streams, either live or recorded, into structured, actionable information.
Funding: Closed a $5 million Series A round in March 2007. Funding came from Red Rock Ventures and ArrowPathVenture Partners.
Competitive Landscape: According to Avidence, the digital video market is about $15 billion and will continue to grow. As analog video technology is phased out, simply offering replacement products represents a large opportunity.
However, as rich media penetrates the enterprise, the far-reaching goal is to evolve everything be it video, voice, images or raw data into a standardized form that can be manipulated and shared in an automated and predictable way.
Market segments on Avidences radar screen include security, surveillance, retail, asset tracking, conferencing, and even casino gaming.
Management Team: Frank Bishop, CEO and president, previously served as SVP of sales and marketing at ActivCard, a provider of identity assurance solutions; Param Singh, chief marketing officer, was formerly an entrepreneur-in-residence at Outlook Ventures. Before that, he held senior management positions at several companies, including Macromedia, NetObjects and Infoseek/Disney Internet Group; Steve Jones, VP of engineering, was with MySQL before joining Avidence, where he held architecture and management positions; Wayne Stidolph, architect, previously served as VP of engineering for Siderean Software.