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Westec Secures $20M in Venture Financing

Dallas-based remote video monitoring firm Westec Intelligent Surveillance announced Monday that it has received $20 million in equity funding. The firm said that Argonaut Private Equity and Egis Capital Partners led the effort. Existing investors also participated, Westec noted, adding that the money will be used to finance growth in the retail, restaurant and hospitality markets. The company also said that Kelby Hagar, its current president, will assume the role of chief executive officer, as well. Westec provides remote video surveillance monitoring services, to help retailers combat fraud and theft. More information »