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Neither the amount of the investment nor percent of equity taken in Envysion were disclosed. Proceeds from the transaction will be used to provide growth capital for Envysion, according to a press statement.
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In the prepared statement, Envysion’s chief executive Matt Steinfort said Envysion has an opportunity to extend its leadership position in the video-driven business intelligence industry.
“Over the past several years we have continued to experience remarkable growth, have expanded into new vertical markets and have added numerous marquee national customers,” he said. “We sought additional capital to enable us to further accelerate this growth and to meet the growing demand from our customers for new and differentiated services to support their cross-functional uses of our application.”
Parthenon brings expertise in business services, corporate strategy and operations that will help Envysion expand its platform and value proposition for customers, as well as improve operational efficiencies, according to the statement.
“We are thrilled to partner with Matt and the Envysion team,´ said Andrew Dodson, a partner at Parthenon Capital Partners. “Having spent years in and around the security and video surveillance industries, we believe that video-driven business intelligence is revolutionizing how owners and operators manage retail and restaurant locations.”