Systems With Intelligence Inc. Completes $2.0 Million Private Equity Financing

Oct 6, 2009 11:23 AM

Systems With Intelligence Inc., a supplier of intelligent video surveillance solutions for the protection of critical infrastructure within the electric utility industry, has completed a $2.0 million private equity financing round.

Electric utilities are faced with increased challenges in protecting critical transmission and distribution facilities from theft, vandalism, terrorism and other unwanted intrusions. With a widely dispersed infrastructure, typically in remote locations with unmanned facilities, utilities are looking for solutions that can withstand the harsh and unique conditions present within a substation and solutions that will enable them to comply with new regulatory requirements for physical security.

SWI provides complete intelligent video surveillance solutions tailored specifically for electric utility applications. Supplying “substation-hardened” equipment and advanced video analytics technology that are easy to use, SWI’s video surveillance solutions provide reliable operation in harsh environments and enables unattended surveillance through automatic event notification. SWI solutions ensure that the electric utility’s mission critical operations are effectively protected against outside intrusion and disruption.

“So far, we have had excellent market reception to our solutions and this round of financing will help accelerate our technology development and sales and marketing efforts in order to deliver best in class intelligent video surveillance solutions to our customers,” said Angelo Rizzo, co-founder and vice president of Sales, who previously held positions with RuggedCom and General Electric.

In conjunction with this round of financing, SWI announces the appointment of Pino Porciello as the president and CEO. Porciello, brings 18 years of experience in industrial automation and the electric utility sector that includes advanced technology development and senior level executive management. Porciello has held previous positions at RuggedCom, General Electric and several early stage technology start-ups.

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