Razberi Technologies Raises $3.5 Million in Series A Funding, Appoints Security Industry Veteran Ken Boyda Board Chairman
Razberi Technologies — a developer of network video solutions for professional video surveillance and security applications — has raised $3.5 million in capital led by Texas-based LiveOak Venture Partners and has appointed security industry veteran Ken Boyda as non-executive Chairman of the Razberi Technologies Board of Directors.
The $3.5 million in Series A funding will support product development and business growth for Razberi, whose award-winning ServerSwitch appliances combine a network video recorder, a PoE switch, storage, and open-platform Video Management Software (VMS) into one easy-to-use and install solution.
“We’ve had great success in bringing the revolutionary Razberi model to the physical security market and we’re excited that LiveOak Venture Partners has joined us to support our exponential growth,” said Razberi Chief Executive Officer Tom Galvin.“Our success with our innovative Razberi ServerSwitch over the last three years has taken us to the next stage. We are at a point where outside investment for new products and marketing is necessary to sustain our rapid growth. The depth of experience from our new board members is a huge asset as we move forward to expand our product portfolio and market reach.”
In addition to the LiveOak investment, Galvin announced Wednesday the appointment of security industry veteran Ken Boyda to the Razberi Technologies Board of Directors. Boyda will serve as non-executive Chairman of the Board. Previously Boyda served as President and CEO of GE Security, Inc., a leading global technology and manufacturing company providing a full range of security, fire, and life safety products & solutions for consumers, business enterprises, and governments. Prior to that, Boyda served as President, CEO and Director of Interlogix, a NASDAQ-listed company (ILXI) until it was acquired by General Electric in 2002 to form GE Security. He also served as President and CEO of its predecessor company, SLC Technologies, a technology and manufacturing leader in the electronic security industry that merged with ITI Technologies to form Interlogix in 2000.
“The acceptance by the industry’s leading VMS providers speaks to the value Razberi provides, and the opportunity to advance the video platform the security industry uses. I look forward to working with the Board, Tom, and his executive team to accelerate Razberi’s rapid growth and innovation,” said Boyda.
Other new Razberi board appointments include Jiri Modry, entrepreneur and security industry innovator who co-founded one of the original digital video recording (DVR) companies, Impac Technologies that was acquired by Interlogix, then became the video solutions platform for GE Security where he served as Senior Vice President of Global Sales; LiveOak Venture Partners Co-Founder Ben Scott, who was previously with Austin Ventures, IXC Communications, PrimeCo Personal Communications, Bell Atlantic, and AT&T; and Krishna Srinivasan, whose experience prior to LiveOak includes Austin Ventures, and Motorola.
“We like to back companies with great teams with strong domain knowledge and approach to disrupt large multi-billion dollar markets. Razberi’s execution and growth in a short period of time is clear evidence of all of those traits and we look forward to building the next successful company in the physical security market,” said Srinivasan. “Razberi is also the first investment for our current fund in the Dallas region. We have had significant success in our prior firms investing and helping grow successful companies in the Dallas region and we look forward to extending that streak with Razberi and hopefully with many others in the region.”