BY BRIAN DOWLING
A $1 million infusion of venture financing from Connecticut Innovations will help Discover Video, a Wallingford video equipment and services company, expand its sales and marketing capabilities, grow its customer pipeline and further develop its technology and products, the state’s quasi-public tech financing arm announced Wednesday.
Discover Video, founded in 2009, also said the investment will enable it to hire more workers. The financing is part of CI’s Venture & Mezzanine Debt Fund which was established to help technology companies finance expansions.
“It is no secret that the economy has made it more difficult to start and grow a business. The state’s efforts to spur growth among early-stage technology companies are extremely well timed,” said Rich Mavrogeanes, the company’s CEO.
One application of the company’s technology is currently in use at a number of Connecticut schools — including high schools in Cheshire, East Windsor, and South Windsor, and Weston Middle School. The technology helps deliver live video announcements to classrooms.