Verkada, a trailblazer in cloud-based physical security, has announced a transformative $200 million Series E funding round led by General Catalyst, with robust participation from Eclipse and other investors. This infusion of capital comes on the heels of over $700 million raised since its inception in 2016 and now places the company at a remarkable $4.5 billion valuation, reflecting strong market confidence in its innovative approach to security. The company’s offering, designed with simplicity and precision, encompasses six distinct product lines including state-of-the-art video security cameras, door-based access control systems, environmental sensors, alarms, workplace solutions, and intercoms. These solutions are seamlessly integrated into a cloud-based software platform that not only delivers unparalleled building security but also leverages advanced machine learning and applied computer vision to enhance operational efficiency. This integration allows users to search through video footage using everyday language to pinpoint people and vehicles, and even enables building administrators to manage access more conveniently by incorporating employee badges into digital wallets, such as Apple Wallet. The recent expansion of AI-powered capabilities, including natural language search and real-time alerting features, is designed to meet a wide spectrum of operational challenges—from ensuring workplace safety and compliance in manufacturing environments to assisting retailers in combatting fraudulent activities—thereby setting a new industry benchmark for intuitive and proactive security measures.
With a rapidly growing market presence, Verkada now supports more than 1.5 million devices that protect people and places globally, and its customer base has surged by 111% since its last funding round. Over 91 Fortune 500 companies rely on Verkada as their physical security foundation, and more than 70% of its large customers integrate two or more of its products, a testament to the effectiveness and scalability of its technology. Filip Kaliszan, Co-Founder and CEO, expressed enthusiasm about the company’s mission, emphasizing the profound impact that applied AI has on transforming how organizations safeguard their spaces and streamline business operations. Deep Nishar from General Catalyst and Aidan Madigan-Curtis from Eclipse further reinforced this vision, highlighting the importance of modern, secure systems in an era where outdated security measures no longer suffice. Their shared optimism underlines a pivotal shift towards embracing sophisticated technology to bridge digital innovations with physical security needs, ensuring that institutions ranging from schools and hospitals to corporate facilities are well-equipped to navigate today’s dynamic safety challenges. This capital raise is poised to further integrate AI into Verkada’s suite of security and safety solutions, reinforcing its leadership and expanding its global footprint in redefining the future of physical security.
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