Security Integrator Invests $192 Million Into Brivo and Eagle Eye
A large security integrator has invested $100 million into Eagle Eye and $92 million into Brivo.
Just 8 months ago, Verkada raised $205 million, and 2 years ago, Anyvision (now Oosto) raised $235 million. Also, in the past few years, Vosker raised $127 million. One highly atypical element here is that none of those other fundraisings was done by a security integrator.
Eagle Eye last raised $40 million in 2020 while Brivo attempted to go public via SPAC in 2021 but that failed (likely for the best for them, given SPAC stock problems).
IPVM Testing
IPVM has extensive testing of both Brivo and Eagle Eye products including:
- Brivo Tested
- Eagle Eye Networks "Smart Video Search" Tested
- Eagle Eye Competitive Strategy
- Cloud Access Control Rankings 2023 - Alarm.com, Brivo, DMP, Feenics, Kisi, Openpath, PDK, Verkada
- VSaaS Rankings 2023 - Arcules, Avigilon, Eagle Eye, Genetec, Meraki, OpenEye, Qumulex, Rhombus, Turing, Verkada, Vivotek, YourSix
In this note, we examine the funding and what this means for Brivo and Eagle Eye.
***** *** ********* *** ******* ** a **** ****.
Combo ************
***********, ***** *** ***** *** *** independent, ******** *********, *** *** *********** shareholder ** **** ****** *****(********** ***,***** ****** *** ** ***** *** $50 *******,*****'* ********* (*****, ***** ***) **** $4+ ******* ** *** *****,***** *** *** ***** *********** ********* While *******,***** *** *** *******, ***** **** President *****).
Security ********** **********
*** *******, *****'******** **+ ***** ***, ********* ~$** billion ** ****** ******* *** ********** in ** ********* *** ***********, ** the ******* **** ***** ********* ***** shows:
****** ****** ****#**** ******** ** ****.
***** ** * ***-****** *******, ********** revenue ** **** **** **% **** the ****** **** ******, *** * CAGR ** **** ~*.*%.
*** ******* **** **** ***** *******, with * *** ****** ****** ** just ***** **% *********.
********, *** ******* *** *********** ****, with*** ******* *********~$*.* ******* *** **** ** **** and ********** **** $* ******* *** cash ** *** **** ******** ******** fiscal ****.
** ****, ***** *** ****** ** cash ** **** **** **********.
Why *****?
** ******* **** ***** ******* * significantly ****** ********* **** *** ** venture ********** ** ********** *** **** companies **** ******* ************* **** *** past ****. *****, **** *** ****** cash **** *** ******** ******** ********, likely ****** **** ** ** *********** to **** ******** ********* ***** ************ would ** ********* *** ** ** do, ***** ****** *********** **** ** VCs. *** *******, ** ****, ***** US ** **** ***** **** *** Eagle *** ***** *** ***** ** not ********* ** *** ** **** fundraising.
Valuation / ******* *** *********
********* *** ******* **** *** *********.
*******, ** * ***** ** *********, when***** ***** ** ****, *** ******** ******* *** ~$** million *** *** ******** ********* *** ~$800 *******. *** **** ****,***** ********* **** ** ***** ***** $100 ******* ** *******.
***** *** ******* **** ****** ** suppressing **********, ** ***** ***** ******** that ***** ******** * *******-****** ********* or ***** ** **, ***** *** continued ****** *** *** ********** **** Secom *** ******* ** *** * significant *******.
***** *** *** ***** ********* ******* nor ********* ****** ** ******** **** Eagle ***'* ******* *** ********* *** approaching **** ** *****'*. ***** ***'* revenue *** ** ***** **** ***** but *** ********* ******* *** ****** higher ***** ***** ***'* ****** ****** (video ** ****** *******). ********* ****** ** ***** *** ********* *** **** **** $** ******* just ** ***** ** **** ***** gives **** ***** ** *****.
Integrator ******
***** ***** ******** ** ** ********* and ***********, ** ** *** ****** to *** *********** ********* *** ******* conflict ******* ** *****'* **** ****** of ***** (***** ** ***** ****** Brivo *** ***** *** ** ******** favor *****). ***** ********* **** ** be *****-***, ****-**** ********* (*.*., *** Canon *** *** ******** ************) ** we ***** ****** **** ****** ** other *******, ********** ***** *** ***** Eye's **** ****** ** *** **.
******
**** ******* ** ********* ** **** companies ** *** ****** *** ***** physical ******** ******* ***** *** *** market *********** **** **-******* ** ***** systems. **** ***** *** ***** *** face * **** ** **** ****-****** competitors, ********* ******* ******'* ******* *** Motorola's ****** ***** ******** ******** *************. (most ******* ****** ****** *** *** Openpath,*** ******** ****).
***** **** ** * *** ****** in ********* ******* ***** ****** *** this ******* **** ****** ***** *** Eagle *** ** ****** **** ************.
******* ** **** **** *** **% growth *** ** ********* ** *** industry, *** ***** *** ************.
********** ******* ***** ********* ** *** that ***** *** ********* *** ** themselves *** *** ********.
***** *** *** ******* ** **** any ******* ** ********** ** *** fast **** ****** ** ****.
* ****** *******. * ****** **** Secom ********* ****** *** ***** ***** sold **.****** *********** ***** *** ****** | Security ******* ****
*’* **** * ******* ****** ** Eagle *** *** *****. * **** a **** ***** ********** *** ****** for *** ** **** *** **** and *** ********** ******* **** ** say ***** ****** ** ****.
***** **** ** **** ** ****’* apocryphal ** *** **** **** ** it.
**** *********** **** **** ***** *** Eagle *** *********, ** ***** **** really ***** ******* *** ***** *********.
**** ** ******* ** **** "*****" will **** * *** ****** ** to *** **** *** ** *** long ***. * ***** ** ** far ** ****** ***** ** *** KEY ******, *********** *** ******** *********** and ***** ********* *********.
** *** ******* *** *** ******* to *** *********, *** ***** **** appears ** ** * **** **** one *** ***** *** ***** ***.
** *** ** ******* ******** ** the ******** ********** *********, * ** not *** **, ** ***** *** in *** **.
**** *
****** ***** ** *** *** ******
***** ** * ******** ******. *** example, ******* *****, ******* ********* **** Qumulex, ******, ******* *** ***** ** have *********** ********** (*** **** ***** significantly **** ***** ** ** **** get ******** ** **********, ***.).
**** ****, **** ***** *** ********* that **** *****, **** ******* ** fundamentally ********* ****, *.*. ***** *****/***** Eye ** ****** (*** ****** ** worse) ** *****, ******* ** ****** dedicated ** **** ***** **** ***** at ****** *** *** *** ******** that **** ** ***-**-*** ****** ******** (much ********* **** *****/***** ***). **** there ** ******** ********* *** ******** security ** *** **** ** *** very ********** ****** ***** ********. *** I ***** ******* *****.*** *** **** are ******* ****** * ******* ****** here (**** *******, *********, ***, ******, etc.) ******* ** ***** ******** ********** residential ********. *** **** **** ******* with *** *** *******, *** ***** to **** *********** ***** ** ******* in **** ****.
*** ***** ***** **** ******** ****** Avigilon ** *********** ** ********** "********* in" * ************...
*** **** ** ********* * ******* -******** ********* ***** ******** ******** ** North ******** ****************** ********* ****** ** ******** / Video ********. ******** ******** ********* ** **** their ********** **** ***** ** **** large ***** ******** *** **** ** will *** ******* **** *******. ******* that ******* ** ** ****** * risk. **** *** *** ****** **** an ********** *** ******* *********.
***** **** * *** ***** ** AI ** *** ********.
*********** ** *** ***/** **** **********.
*****'* *** **** ******** ******* ***** Invests ** ** ******* *********
*** **** *** ********* ***** ********* within *** ********. ** ***** **** their ** ** **** ******* ***** and * ***'* *** *** ** would ******* ******* ** **'* ****** scope.
******** *** **** **** ** *** industry. *** ***** ** *** ******* age.
**** **** *** ********! ** * startup, ** *** **** ** ** opportunity!
**** *** ******* ****** ** ***********, an ******** ************* ********* ** ****** shape ** *** ********. ********, *********** players, *** ********* *** ******* ********* partnerships **** ***** ****** **** ********** speed
*** *** **** * ***** ** to **** *** *** ****** ** each *** ***** **** ********?
* ***'* *** ** ***** *********** caring **** *** * ***** ***** that ******* **** ********* ** ********** would **** **** ***** ** **********.
********* ** ********** ***** **** **** level ** **********.
***? *** *** *********?
********* *** ***** ** ****** *********, as **** **** ***********, **** ** sold *** ** *** **** ** years. **** **** **** ****** ** I *** ********* ****** ** ***** VC ****** ********* ******* ** ****. Curious ** **** **** **** ***?
***** *** *** ***** ********* ******* directly ** *** ** *** ********* for *******, **? * **** **** less ******** ** ******** ******* ***** partnerships ** *** ********. ***** ** wrong ** **** **** *** ***** than ***/****, **** ********** *********** ** a *** ********.
#*, **** *****. * **** ******* UK ********* ******* ****** **** ****** **** ********* ********* ***** **** ***** ** ***** ~60 ******* *** ** ****** *******.
******** ***** **** ~** ********* *** Secom *********:
** ***'* **** ****** ****** ********** with ***** ** ***** ******* ** comment **** ***. ******* **** ****** can *****.
********** ** ********** ********** *** ****** **** *** Eagle ***, *** *** *** *****:
* **** ** ******* ***** *** will **** *** ****** **** **** and ** **** ***'* **** **** be ** ******* ***** ****** **** of ***** *********** ** ***** **** be.