San Mateo, California-based Verkada, the cloud-based enterprise video security firm has bagged $80 million as part of Series C funding round which values the firm over $1.5 billion. The financing has been led by Felicis Ventures, Meritech Capital Partners, Next47, and Sequoia Capital. In its Series B round, the firm had raised $40 million that round was co-led by Meritech Capital Partners and Sequoia Capital.
Verkada was founded by Benjamin Bercovitz, Filip Kaliszan, and James Ren in 2016 as an IoT platform that combines plug-and-play security cameras with intelligent, cloud-based software. The firm claims to be offering their solutions to nearly 2,500 organizations, including twenty-five global Fortune 500 companies.
Filip Kaliszan, the CEO and co-founder of the firm talking about the company said, “Our customers rely on their security systems to protect the most precious asset they have: people. However, despite the essential nature of video security for businesses, most companies continue to rely on outdated systems that do not offer the advantages of a software solution first and foremost. This visibility allows them to focus on what they do best: act. The physical security software layer that is essential for every building, and also the foundation of the IoT infrastructure of any large enterprise."
Felicis Ventures founder and managing director Aydin Senkut talking about Verdaka said, "People have a tendency to write off Verkada as a boring camera company. They don’t realize how access control as the second product is going to supercharge the company’s potential.”
Image courtesy : AIThority