VideoIQ Names Ed Bednarcik President and CEO
VideoIQ has appointed Ed Bednarcik as president and CEO. Bednarcik, who previously served as CEO of Wright Line, a designer and manufacturer of 911 public safety and data center solutions, also will join VideoIQ's board of directors.
Bednarcik brings experience in building companies from early-stage to large multi-billion dollar market leaders. Most recently, he led Wright Line, a Worcester, Mass.-based company previously owned by Oaktree Capital Management, before completing a sale to Eaton Corp. in August 2010. Prior to leading Wright Line, Bednarcik was an early employee of A123 Systems, a supplier of high-power lithium-ion batteries, where he served as vice president and general manager. A123 was the largest IPO on the NASDAQ in 2009 and its early investors included Qualcomm, General Electric, Sequoia Capital and North Bridge Venture Partners. Bednarcik also has held key executive roles at American Power Conversion (APC) including corporate officer, vice president of global sales, and vice president and general manager of the Business Network Solutions Group – the company's largest division with more than $1 billon in sales. As sales leader at APC, Bednarcik was responsible for more than $2 billion in annual revenue prior to its acquisition by Schneider Electric.
"VideoIQ has hit the classic inflection point in a startup company's lifecycle where explosive growth occurs as a result of great product and market fit. The introduction of their HD camera last year was the trigger point," said David Skok, general partner at Matrix Partners. "We thank former CEO Scott Schnell for his contributions and welcome Ed to the team. Ed's experience and track record make him a perfect fit as VideoIQ's growth continues to accelerate. His passion for technology, extensive global experience and ability to cultivate market opportunities will be invaluable."
"VideoIQ is bringing a truly disruptive technology to market," Bednarcik said. "Using intelligence and storage in the camera has allowed them to solve the network traffic problems caused by HD video streams, and their award-winning analytics have also proven to be highly effective at preventing crime. This has led to explosive growth, and I am honored to be joining VideoIQ's world-class team and helping revolutionize the security industry."