Portfolio Press Release
Avaak, Inc. Named Winner of Red Herring 100 North America Award
Avaak, Inc. Press Release
29 June 2010
SAN DIEGO—(BUSINESS WIRE)—Avaak, the leader in easy-to-use, wire-free personal video networking technology, today announced it has been honored with the Red Herring 100 North America award, a prestigious list honoring the Top 100 most promising private technology start-ups from the North American business region in 2010. Securing a coveted spot on the list has become a mark of distinction for the most innovative new companies and entrepreneurs. With this award, Avaak joins the ranks of past Red Herring 100 North America winners such as Facebook, Twitter, Google, Yahoo, YouTube and eBay—all of which change the way we live and work today.
"Choosing the companies with the strongest potential was by no means a small feat," said Alex Vieux, publisher and CEO of Red Herring. "After rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across North America to the Top 100 Winners. We believe Avaak embodies the vision, drive, and innovation that define a successful entrepreneurial venture. Avaak should be proud of its accomplishment, as the competition was very strong."
Since 2009, Avaak has become a notable name among consumer technology, known for its award-winning Vue™ personal video network system. The Vue system allows consumers to monitor their homes or businesses via the Internet and access a live video feed through a mobile device. The system features a network of small, battery-powered cameras that can be placed anywhere, a unique and valuable offering in today's consumer electronics market. The Red Herring 100 North America win is further proof of Avaak's consumer product leadership and proven company growth.
"Being named one of Red Herring's Top 100 North America tech start-ups is a tremendous honor, and reflects the internal confidence Avaak carries in our innovative technology offering for consumers," said Gioia Messinger, Founder and CEO. "The Vue personal video network is transforming how busy individuals and families keep track of what's important to them. We thank Red Herring for this incredible validation; Avaak works hard every day to take video monitoring to a new level of simplicity for today's fast-paced consumers."
Red Herring's editorial staff evaluated the companies on both quantitative and qualitative criteria such as financial performance, technology innovation, customer acquisition rate, management quality, investor record, strategy, and market penetration. This assessment of potential is complemented by a review of the track record and standing of startups relative to their sector peers, making the list a valuable instrument of discovery, and advocacy for the most promising new business models in North America. During the several months leading up to the announcement, hundreds of companies in the telecommunications, security, Web 2.0, software, hardware, biotech, and clean tech industries sent in their submissions in hopes of being named a winner for the award.
About Avaak, Inc.
Founded in 2004, Avaak, is the world's leader in ultra low-power, easy-to-use, wire-free video technology that enables pervasive imaging applications where video and snapshots can be viewed, captured and shared from anywhere at anytime without the need of wiring cameras or downloading software. Originally developed for homeland security and defense purposes, Avaak's technology enables the use of video in consumer and commercial applications and locations that were previously deemed infeasible. With a wide array of uses, the company's products will allow consumers to take full advantage of the digital lifestyle. Avaak is a private company with headquarters in San Diego, Calif., which is funded by Qualcomm Incorporated, Trinity Ventures, InterWest Partners and Leapfrog Ventures. To learn more, please visit www.avaak.com.
