Verkada, Inc. Secures $40 Million USD in a Series B Funding Round

(San Mateo, CA) Already Verkada, Inc. is enthusiastically known:  for its ability to strengthen the safety and productivity of business operations; its offer of security cameras that learn & develop new capabilities, and, its offer of a security camera system that is built for the modern enterprise.  All that is the previously said, couldn’t be possible without these three factors.  The first factor, Verkada, Inc. uses a hybrid cloud architecture that, simplifies workflows and makes administration a seamless task.  The second factor, the security cameras themselves are made possible by a technology stack that, unlocks the power and potential of computer vision.  The third factor, the security camera system itself is an all in one system that, is designed to break free from the constraints of conventional technology solutions.  For Verkada, Inc. it appears, as if the enthusiasm could only continue.  Recently, the aforementioned computer and software technology business revealed that, it has secured $40 million USD in a Series B funding round.  Post funding round, Verkada, Inc. has an estimated worth of $540 million USD.  As part of the Series B funding round, current investors doubled down on their bets.  Next 47, GmbH, and, First Round Capital are the investors that; have doubled down on their bets.  The most noteworthy new investors of Verkada, Inc. are Meritech Capital Partners, and, Sequoia Capital. 

          Meritech Capital Partners and Sequoia Capital, as the most noteworthy new investors, will be contributing funds for the following.  The funds will be used to continue the business’s established growth, and, further develop its product offering.  In the last year, Verkada, Inc. has successfully added more than 1,000 clients.  Obviously, the previously said is a good example of the established growth of the business.  Additionally; new clients are all spread out throughout the education, business, retail, hospitality, banking and healthcare sectors of the economy.  For these more than 1,000 new clients, Verkada, Inc. offers bandwidth friendly security cameras.  Additionally, there is a built-in storage capacity of 120 days.  Furthermore, the security camera video footage can be backed up to the internet cloud.  All of the aforementioned, is Verkada’s centralized platform that manages surveillance.

          Returning to, the further development of Verkada’s product offering, the aforementioned is best highlighted by smart features.  Smart features like object detection, and, proactive alerting are the two most notable smart features that will be furthered developed.  The combination of these two smart features, work in the following way.  They are activated when unusual activity occurs.  For example; when a person wanders around on the premises of the building after business hours, or, when an unidentified automobile is parked in the parking lot.  For the technology part; Verkada’s proprietary technology solution encrypts the data whilst at rest, whilst in transit and in the internet cloud.  The management system is a single on provider (S.S.O.).  The latter; ensures that only authorized personnel can easily access, and, manage the security video cameras from the console.  Konstantine Buhler is a Principal at Meritech Capital Partners.  Through a press statement, Mr. Buhler said the following.  “Verkada is redefining standards in the physical security industry.  By combining several complex systems into an intuitive, software-driven platform, Verkada is positioned to become a leader in Enterprise IoT.”  Mike Vernal is a Partner at Sequoia Capital.  Through a press statement, Mr. Vernal said the following.  “Verkada is empowering companies to migrate from on-premise security cameras to a cloud-first solution.  Filip and the Verkada team have designed a delightful plug-and-play camera coupled with great software that is accessible from anywhere.  A lot of magic can happen when you bring talented software and hardware people together.  We found this rare combination in Verkada and are thrilled to partner with the team.”

          John Spirko is the Senior Director of Loss Prevention at Equinox Capital.  Through a press statement, Mr. Spirko said the following.  “There are no secrets to becoming successful with Verkada.  The way the system works is effortlessfrom the way it’s installed, to getting it up and running.  With the right equipment and the right technology, we’ve been able to drive the business forward in other departments as well.” 

          To end, Verkada, Inc. did release a press statement.  Filip Kaliszan is a Co-Founder and the Chief Executive Officer of Verkada, Inc.  Through a press statement, Mr. Kaliszan said the following.  Enterprise video security was clearly an industry that needed improvements across reliability, user experience and design—much of what we’ve done is bring the simplicity of consumer systems to the enterprise space.  By introducing smart features and making the solution cost-effective at scale, IT, Facilities and Security teams now have a resource that enables them to be more successful at their jobs.”  As previously stated, the aforementioned computer and software technology business recently revealed that, it has secured $40 million USD in a Series B funding round.  Post funding round, Verkada, Inc. has an estimated worth of $540 million USD.  As part of the Series B funding round, current investors doubled down on their bets.  Next 47, GmbH, and, First Round Capital are the investors that; have doubled down on their bets.  Lastly; the most noteworthy new investors of Verkada, Inc. are Meritech Capital Partners, and, Sequoia Capital.

 

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Written from Press Release

Registered Writer with

PR Newswire Association, LLC

R-Berumen28

04/27/2019

 

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