Security technology company Verkada has announced a USD200 million Series E funding round. The round was led by General Catalyst, with significant investment from Eclipse and additional participation from new and existing investors.
“Today, more than 1.5 million Verkada devices are online protecting people and places across the globe, and we have an incredible opportunity ahead as we continue to rapidly increase our market share and deliver solutions to our more than 30,000 customers,” said Verkada CEO Filip Kaliszan.
“This latest commitment of capital reinforces the critical transformation that Verkada is driving in the market as applied AI fundamentally changes the ways that organizations keep people safe and drive business efficiency,” he added.
Eclipse partner Aidan Madigan-Curtis, whose firm invests in technology, said aging security systems simply do not meet the needs of the modern world.
“Safety is increasingly on the minds of parents, audiences, consumers, and others in public and private arenas, but our infrastructure is severely lacking in secure, modern systems for threat detection, access control, and emergency alerting,” said Madigan-Curtis. “This is a pivotal moment in time to combine the best in computer vision, advanced hardware, and AI to serve all citizens and their families.”
Since its founding in 2016, Verkada has raised more than USD700 million in funding, and the latest round values the company at USD4.5 billion.
Since its last fundraise in September 2022, Verkada’s customer base has grown 111%, and more than 70% of Verkada’s large customers leverage two or more of its products. Existing investors include Sequoia, Next47, Meritech, MSD, First Round Capital, Felicis and Linse Capital.
