Video surveillance firm gets $10 million in VC funding

Video surveillance firm VideoIQ is set to announce on Wednesday morning a $10 million Series B funding round.

Lehman Brothers Venture Partners is leading the round, and current investors Matrix Partners and Atlas Venture are participating.

The funding will be used to help VideoIQ expand to new markets and continue product development of its IP video surveillance and video analytics products, the company says.

Waltham, Mass.-based VideoIQ was spun out of GE Security in 2007 and is headed by Scott Schnell, a former RSA executive.

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