DealHorizon - the faster, easier way to create and share business plans

Canadian-based video survellience company Aimetis announced today a first round funding of US$4.827mm, which is well-deserved. The guys have built a solid worlwide distribution network and have some great case-studies behind them, including the recent Commonwealth Heads of Government conference in Trinidad. The bulk of the cash came from Candian fund Covington.

I like this space a lot. I did some work with a video survellience company late last year - their target market was military sites, and their happy business problem was they had far more business than they could handle, and needed to scale very quickly so as not to lose momentum. The company ended up being purchased by a competitor - for a nice premium.

Too much business is a very nice problem to have. Which brings me to the one issue I have with this piece of news - the surpising thing about this deal is the relaively small size of the raise. I know it's only a first round, and more are probably planned, but this company has been around since 2003 and is executing like an expansion-stage company.

Some of the recently-announced deals, such as it survellience work for the Princeton School District and the Bangkok Airport link, are pretty solid projects - these are not exactly the proof of concept deals you typically associate with a Series A-stage company.

Given the rapid growth of the video survellience market (and the fact that less-developed - and less-stable markets, such as Thailand - are lining up for their offerings), I would have thought a "bet the farm" larger raise would have been on the cards.

You can check out the DealHorizon.com profile for Aimetis here.