Michael Dell Invests in VSaaS Startup Eagle Eye

By John Honovich, Published on Aug 01, 2014

Only a month after Google bought Dropcam, Michael Dell is investing in VSaaS startup, Eagle Eye Networks.

Inside this note, we look at what this means for the VSaaS market, in general, and Eagle Eye, in particular.

The Round

This is a B series round for Eagle Eye and the first money invested outside of the founder / CEO, Dean Drako [link no longer available], who previously founded Baraccuda Networks.

The round is majority lead by Micheal Dell's private investment firm, along with contributions from Austin Ventures and Enrique Salem of Symantec.

The total dollar amount was not disclosed but is somewhere in the multiple millions.

Why The Investment

The Dell investment is primarily because Dell knows and trust the founder of Eagle Eye, not because Dell is focused or excited about VSaaS or cloud surveillance.

Eagle Eye's Positioning

As a VSaaS company, Eagle Eye is the opposite of Dropcam. Whereas Dropcam only stored in the cloud, bundled their own cameras and targeted consumers, Eagle Eye leads with on-site storage (with cloud back-up / transfer), does not sell cameras at all and targets the traditional professional security market. For more, see our original Eagle Eye Networks review.

Get Notified of Video Surveillance Breaking News
Get Notified of Video Surveillance Breaking News

Use of the Round / Job Openings

As is common, the company will use the round to expand product development, sales and marketing. In particular, for those sales people looking for an early stage manufacturer, Eagle Eye has a variety of openings in sales.

Progress So Far

Eage Eye reports ~20 engineers and ~100 dealers to date.

A key issue for any new recorder entrant is building out feature sets to close the gap on incumbents who have been around for 10 to 15 years. Over the past 6 months, Eagle Eye says they have added a number of basic features like an API, mapping, RTSP support, digital zoom, local monitor support, etc.

Market Impact

This move says nothing about the broader momentum for VSaaS, as its an investment into an established founder going after the traditional security market.

However, it does increase the potential for competition in the moribund surveillance recorder space. In particular, Eagle Eye has one critical advantage on almost every established VMS developer - built-in cloud remote access. With additional money to market and sell themselves, they likely will increase awareness of the value for this ability, which we think every VMS should offer.

Eagle Eye still has a long way to go, both on the product and promotion side. This round clearly helps them in that direction and, hopefully, in the process, spurs incumbents to add cloud access to their offerings.

5 reports cite this report:

Eagle Eye Investor Pitch Analyzed on Dec 20, 2017
Eagle Eye CEO Dean Drako presented an investor-oriented corporate pitch at...
Verkada, Silicon Valley VSaaS Startup, Targets Enterprise on Oct 19, 2017
Verkada says they are building an enterprise-class VSaaS offering, calling it...
Eagle Eye Exec On Mountain Of Servers - VSaaS Growth Analysis on Apr 25, 2017
Eagle Eye VP of Operations, Hans Kahler [link no longer available], posted a...
Eagle Eye Cloud VMS Tested 2015 on May 28, 2015
Genetec has added cloud VMS, Exacq is releasing theirs in a few months,...
Major Moves - Security Manufacturers 2014 / 2015 on Dec 08, 2014
This guide summarizes the biggest moves of security manufacturers in 2014 and...
Comments (3) : Members only. Login. or Join.

Related Reports

Directory of 97 Video Surveillance Startups on May 20, 2020
This directory provides a list of video surveillance startups to help you see...
OnSSI Founders Return, Start Corsight on May 25, 2020
The OnSSI founders are back, less than 2 years after selling OnSSI to...
Sequr Presents HID based Cloud Access Control on Jun 04, 2020
Sequr presented HID based Cloud Access Control at the May 2020 IPVM Startups...
Drako's Companies (Brivo, Eagle Eye) Take $4+ Million in PPP Funds on Jul 14, 2020
While centimillionaire Dean Drako is the owner of two of the largest SaaS...
Qumulex Presents Unified VMS and Access Control on Jun 08, 2020
Qumulex presented its unified video management and access control system at...
Startup Videoloft Presents Cloud Storage on May 27, 2020
Videoloft presented offsite cloud storage at the May 2020 IPVM Startups...
Motorola Solutions Speaks on Avigilon / Video Strategy on Feb 04, 2020
2 years ago Motorola Solutions acquired Avigilon for a billion dollars but...
Openpath Raises $36 Million on Jul 16, 2020
Openpath has raised $36 million as 2020 has become a boom year for access...
Multilaser / Giga Security Brazil Company Profile on Oct 05, 2020
As part of our expanded Latin America coverage, IPVM is profiling regional...
Startup Visual One Presents Object Detection and Smart Search on Aug 26, 2020
Visual One, a Y Combinator backed startup led by a PhD in machine learning...
Genetec and Dahua-Backed Intelbras Split Examined on Jul 29, 2020
China is the cause of the breakup between Canada's and Brazil's largest video...
JCI "Fever Camera" Partners With China TVT on May 19, 2020
Johnson Controls (JCI) is the next big player to get into the 'fever camera'...
SafeZone Tech Presents AI Gunfire Detection on Jun 15, 2020
Safe Zone presented its AI gunfire sensor the May 2020 IPVM Startups...
Ava / Vaion Releases Cloud Connected IP Cameras, Verkada Competitor on Oct 01, 2020
Ava (formerly Vaion) announced its new direct-to-cloud AVA Aware IP cameras...
Proxy Acquires Ring Maker Motiv on Apr 29, 2020
Fresh off of raising $42 million, access startup Proxy has acquired...

Recent Reports

Panasonic Presents i-PRO Cameras and Video Analytics on Oct 19, 2020
Panasonic presented its i-PRO X-Series cameras and AI video analytics at the...
Augmented Reality (AR) Cameras From Hikvision and Dahua Examined on Oct 19, 2020
Hikvision, Dahua, and other China companies are marketing augmented reality...
18 TB Video Surveillance Drives (WD and Seagate) on Oct 19, 2020
Both Seagate and Western Digital recently announced 18TB hard drives...
Watrix Gait Recognition Profile on Oct 16, 2020
Watrix is the world's only gait recognition surveillance provider IPVM has...
Intel Presents Edge-to-Cloud Ecosystem for Video Analytics on Oct 16, 2020
Intel presented its processors and software toolkit for computer vision at...
Best Manufacturer Technical Support 2020 on Oct 16, 2020
5 manufacturers stood out as providing the best technical support to ~200...
Microsoft Azure Presents Live Video Analytics on Oct 15, 2020
Microsoft Azure presented its Live Video Analytics offering at the September...
Worst Manufacturer Technical Support 2020 on Oct 15, 2020
4 manufacturers stood out as providing the worst technical support to ~200...
Clorox Announces, Then Pulls, Fever Camera on Oct 15, 2020
For almost one week, Clorox was marketing fever cameras. The booming...
Faulty Hikvision Fever Cam Setup at Mexico City Basilica and Cathedral on Oct 14, 2020
Donated Hikvision fever cameras (claiming screening of 1,800 people/min. with...
Directory of 209 "Fever" Camera Suppliers on Oct 14, 2020
This directory provides a list of "Fever" scanning thermal camera providers...
Avigilon UMD / UAD Tested on Oct 14, 2020
Avigilon's Unusual Activity Detection and Unusual Motion Detection claim to...
Longse Promoting Hikvision Partner Fullhan Chip Based Cameras on Oct 14, 2020
With Huawei HiSilicon production being shut down at TSMC, camera...
Meridian & Goodview (BEMS Relabeller) Temperature Screening Tested on Oct 13, 2020
A lot of temperature tablets look exactly alike and that is because they use...
Monitoring Alarm Systems From Home - Innovation or Danger? on Oct 13, 2020
Remote monitoring by alarm companies since COVID-19 is bringing cost savings...