Milestone Systems, a developer of open platform IP video management software for surveillance systems, today announced $27 ( euro 17) million in growth stage funding from Index Ventures, a major European venture capital firms.
This is the first ever external investment into Milestone, after nearly a decade in business, and marks the latest investment from Index Ventures’ euro 400 million growth fund, which closed in January 2007.
Milestone Systems has sales offices in nine countries with plans to open additional locations to support a number of significant partnerships. The firm will use the funding to continue development of its technology platform and spearhead new business initiatives.