SecurityWorldMarket

14/05/2018

Edesix secures funding to target US market

Edinburgh, UK

Debt funding will support Edinburgh-based wearable camera tech company, Edesix, expand into US market.

According to the company, Beringea has advised and arranged debt funding worth up to £2 million to Edesix Ltd., a manufacturer of body worn camera solutions. The Edinburgh-based company will use the funding, provided through Beringea’s Proven Legacy, to support the expansion of its sales operations as it targets growth in the US market.

Edesix’s Videobadge wearable camera system enables users across a wide range of industries – from law enforcement and security to healthcare, retail, and public transport – to record high-quality video and encrypted footage. The company’s Videomanager software facilitates efficient and secure monitoring and control of cameras, as well as video editing and the preparation of evidence packages. Customers include Scotrail and G4S, as well as several local and regional police forces, including Police Scotland, the Police Service of Northern Ireland (PSNI), West Midlands Police, and Cambridge Constabulary.

Founded in 2002 and with a staff of around fifty working from its Edinburgh headquarters, Edesix will use the funding from Proven Legacy to support recruitment and operational expansion as it looks to grow sales in the US market in particular. The company is opening a new office in New Jersey later this month, with an experienced member of the UK sales team relocating to join current staff and new hires. Edesix also expects to launch new products which will enhance the current offering to the video management systems (VMS) market, whilst continuing to support and enable market growth within the US.

Richard McBride, CEO of Edesix, said: “We’d been in conversations with Beringea for a couple of years before confirming this funding, and found them to be the perfect partner to help us at this vital stage in our journey as we look to grow our presence and sales in the US market. Proven Legacy is helping us do that without having to raise additional equity. We’re grateful for the support, and look forward to working with the team.”

Mark Taylor, head of growth finance at Beringea, said: “Edesix has built an impressive business in the UK over a number of years, and we are pleased to be supporting its growth into the US market – a major milestone for any UK business – through Proven Legacy.”


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