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/C O R R E C T I O N -- 3VR, Inc./
Jun 29, 2011 (04:06 PM EDT)
In the news release, "3VR Appoints New CFO and Senior VP of Channel as Company Continues Explosive Revenue Growth," issued 29-Jun-2011 by 3VR, Inc. over PR Newswire, we are advised by the company that the fourth paragraph, second sentence, should read "3VR's products are making more than 3,840,000 hours of video usable and searchable for its clients every day." rather than "3VR's products are making more than 384,000 hours of video usable and searchable for its clients every day." as originally issued inadvertently. The complete, corrected release follows:
3VR Appoints New CFO and Senior VP of Channel as Company Continues Explosive Revenue Growth
Video Intelligence Leader Bolsters Executive Team as Demand in Banking, Retail and Healthcare Markets Grows
SAN FRANCISCO, June 29, 2011 /PRNewswire/ -- 3VR, Inc., the video intelligence company, today announced two major appointments to its executive team as the company continues to expand, fueled by customer wins in the banking, retail and healthcare verticals. Charlie Ryan has joined the company as chief financial officer (CFO) and Tony Craythorne will serve as senior vice president of global channels. Both Ryan and Craythorne are seasoned executives with significant venture and public company experience.
Ryan and Craythorne join 3VR at a time of tremendous growth. Over the last three years, the company has grown more than 100% per year and in December 2010 secured $17 million in new financing, led by Menlo Ventures.
"Our growth in the financial services and retail sectors has us poised for aggressive expansion over the next several years in both traditional security categories and in new business intelligence applications," said Al Shipp, chief executive officer of 3VR. "The combined experience of Charlie and Tony will be a tremendous asset to 3VR as we continue to evolve our business models and build significant channel relationships."
3VR's Video Intelligence PlatformTM (VIP) enables organizations to effectively search, mine and leverage video to help mitigate physical and identity fraud, automated teller machine (ATM) skimming, reporting on compliance issues and to better serve and retain customers. 3VR's products are making more than 3,840,000 hours of video usable and searchable for its clients every day.
"3VR has the unique combination of established success coupled with limitless potential," Ryan said. "3VR's VIP integrates easily with third-party point-of-sale, access control, banking transaction systems, ATM software and other products to make it a critical part of any security or business solution. "The video intelligence market is rapidly evolving and 3VR is well-positioned to lead the market."
Most recently, Ryan served as CFO for Sensage, an enterprise software company in the security sector. Ryan began his career as an investment banker in corporate finance and mergers and acquisitions with leading global firms, including Morgan Stanley, Goldman Sachs and Credit Suisse. He has also served in corporate leadership positions at H-P, VeriSign, and iFILM.
Craythorne also comes to 3VR with extensive channel experience, most recently serving as vice president of global modular channels for Hitachi Data Systems.
"3VR's channel partners are critical to the company's success and to our aggressive growth plans," Craythorne said. "The channel is quickly realizing the unique potential that 3VR brings to the table. Using 3VR's Intelligent Applications our partners can offer their customers compelling security and business services. I look forward to expanding 3VR's sales globally across our key markets."
Craythorne has also held executive sales positions at Brocade, Bell Microproducts, Ideal Hardware and Teksys, Ltd.
SOURCE 3VR, Inc.