Rare Video Surveillance Fundraising - Verkada $15 Million

By: Sean Patton, Published on Apr 19, 2018

Fundraising in video surveillance (and the broader physical security market) has been poor recently. Highlights are few and far in between including Knightscope raising $20 million from mom n' pop investors and Dahua's car manufacturer raising $63 million.

But now one US video surveillance startup, Verkada, has raised a (sizeable for this industry) $15 million Series A investment, led by Siemens' venture fund, Next47.

IPVM spoke with Verkada about:

  • Current State of the Company
  • Plans for The New Funding
  • Disrupting Traditional Security Markets
  • 3rd Party Camera Support
  • Competitive Challenges

*********** ** ***** ************ (and *** ******* ******** security ******) *** **** poor ********. ********** *** few *** *** ** between ******************** ******* $** ******* from *** *' *** investors********'* *** ************ ******* $63 *******.

*** *** *** ** video ************ *******,*******, ********* * (******** *** this ********) $** ******* Series * **********, *** ** *******' venture ****,******.

**** ***** **** ******* about:

  • ******* ***** ** *** Company
  • ***** *** *** *** Funding
  • ********** *********** ******** *******
  • *** ***** ****** *******
  • *********** **********

[***************]

Verkada ********

*** ********** **** *******: *******, Silicon ****** ***** *******, Targets **********. ***** ******** ** an ***-**-*** ********, **** notably *** *********** ** their *** ******* **** built-in *******, **** ** 3rd ***** ******* *** no **-**** *********.

Verkada ** ****

***** ******** *** ****** Verkada **** **** **** gained *** *********. **** are ********** ** ***** on ********* ** ********** system ******, ********* ******* with ********* ****** ** over *** ******* ** a ****** ****, ****** Yuma ****** ****** ******** in ******* ************ ** a *** *** **** year.

Increasing *********** *** ***** *****

******* **** **** ********* have **-** ********* *** are ******** ** ****** that ** *** *** of **** **** ********** both *********** *** *****. See*******'* **** ********.

Verkada ******* *******

**** ***** ***** ******-**** goals, **** ********* ** continuing ***** ******* ********* to *** ********** ***** verticals, ***** ********** ********* their ***** *** ******* that **** *** **** successful ** **** *** next *-* *****.

No ***** *** *** ***** *******

******* **** ***** ******* focus ** *********** * high ***** ** ******* security *** ********** ** system ********** ******* ***** own *******. ***** *** company *** *** **** out *** ***** ******* at **** ***** ** the ******, ** ** not **** ** ***** plans / ******** ***.

Incompatibility **** **** ********* ****

*** ******* ********* ** see *** *******, *** their ***** **** ************, is ****** ** *** business **** *** ******* requires ****** ********* ******** cameras ** **** ***** Verkada ** *** ******* installed. *** ***** ************ market ** ***** ****** with **** ** ******** of ******* ********* ****** essentially ***** ********** ********.

Lack ** ****** *******

*********** *** **** ** 3rd ***** ******* ** the **** ** **** factors ******* ******** (**** * ****** - full **** ****** *** outdoor *****). *** ***** *** want ********* ***** ******* or *****-******* ** **** or **** ********* ******, there *** ** *******. Also, **** ********** ****** is ***.

Verkada *********** *********

******* **** ***** *********** advantage **** ** ***** an ***-**-*** ********, **** no **** ** ****** or **** ********* ** storage *****, ***., **** up ** *** **** storage ****** *** ****** as **** ** ******** software, ****** *** "******* 95" **** ******** **** Verkada **** ** ******* in ***** ************.

Competing ******* **********

***** ***** *************** **** the **** ********* **** of ******* *** ***** lack ** ****** *******, we ***** ****** **** to **** ******** ******* with *** ******** ** is. ****** ***** *** some *** ***** **** cloud ********** *** **** is ****** ** *** other ***** ***********. *******, Verkada ***** ** ***** traction ** **********.

Competing ******* ******

*******'* ***** ************ ******** is ***** ******* ************* to ******'*, ****** ******, owned ** *****, *** massive ******** *** ******* advantages *** ******** ****. Verkada *** ********* ** explain *** ********** **** had ****** ******, ********** individuals ********** ******* **** for * ****.

Competing ******* ***** ***

*** ***** *** *****, while **** ***** *****, is ************* *** ******** to *******. ***** *** is ***** ** **** with *** ***** ******* while ********* * *** on ****. ***** *** benefits **** * **** mature ******* *** ****** control *********** *** *****. However, ******* *** ** opportunity ** *** ** catch ** **** ***** new *******.

Benefits ** $** *******

** *** ******** ****, they **** $** *******, which ***** **** * few ***** **** ********* to ******* ** ***** some ** *** ******** they **** *****. ** a *******, ****** **** will ******* *** ******. How ****, ** ******, is * *** *************.

Benefits ** **** ** *** ********

******* ******* *** ******* is **** ***** *** few *** ******** ** the ********, **** **** incumbents ******** *&* ******** or ********** ** ****** in ***** ************. ** contrast, **** *********** **** to ************* ********** ** offering **** ****-***** ********* with * *********** ***** proposition ** **********. ** that ***, **** ***** Eye, *******, **** **** its ***********, ***** ** attractive ** ******* / integrators.

Good *** *** ********

*******, **** ******* ** good *** *** ********. Whether ** *** ******* can ****** ** * successful ********** ** *** market, **** **** ** funding ********* ******* *** buyers *** *** *********** of * *** ********** of ******* ** *** industry.

Response ** ***/*** *********

******* ********* ** ********* regarding ************* ** ***** cameras:

******* **** ******* ******* Joint ****** ************* (***) partners ** ****** ** a ***** ********** *** engineering, *************, *** ****** logistics *******. ** ** not "***" *** *** shelf *******, *** ** control *** ****** *** manufacturing ** *** ** our ********. **** ****** of ******** *********** ******* rapid **** ** ****** while ***** ********* *** customers **** * ****** and ****** *******. *** of *** ******** (********* the **********, ********, ***** & ****** *****) ** written ** *** **** team ** *** **.

Comments (10)

Undisclosed Manufacturer #1

04/19/18 05:41pm

**** ******** *** ******* **** *.*** *** ***** **********.

John Honovich

IPVM | In reply to Undisclosed Manufacturer #1 | 04/19/18 08:24pm

******** ** ** *********** ******* ******* ** *** *** * Verkada ********, *** ***** *** **** ** * **** ** your *****. **********, ******** *** *** ******* *** ***** ** cameras *** ***** ** *** ** *** ********, ******* *** a ******* ******* **** ****.

*** ******* **** **** ** ******* ** (*) * ****** ago, ***** **** **** *** ******** ** ******* (****** ********** IP **** **** ******) *** (*) *** ********* ** ****** from ** ** ** *** ****** *** **** ********** **** moving **** **-**** ** ***** *******.

Undisclosed Distributor #2

04/19/18 06:05pm

** ***** **** **** **** *** ** *** ** *******.

Undisclosed #4

In reply to Undisclosed Distributor #2 | 04/19/18 07:50pm

**** ** **** **** ******* **** **** ****** *** *************. I **** *** ********* *** ********* ** *** ******* ******, but ** ** **** ******** **** *** ******* ****** ** very ********* **** *** ** *******'* ******** *********. ** ** fair, ** ** **** ******** **** *** ******* ****** ** an *** *** ***** ******* **** **** **** ****** ********. It ** ********** ** **** *** *** ** *** ***** simply **** *** ******* ** ** ****** *******.

Avatar

Sean Patton

IPVM | In reply to Undisclosed #4 | 04/19/18 08:06pm

* ******* *** ** ******* *** *******, *** **** ****** as * *** **.

Avatar

Sean Patton

IPVM | In reply to Undisclosed Distributor #2 | 04/20/18 12:55am

* ******* *** **** **** * ******** **** ******* ********* OEMing *******, ***** ***:

******* **** ******* ******* ***** ****** ************* (***) ******** ** Taiwan ** * ***** ********** *** ***********, *************, *** ****** logistics *******. ** ** *** "***" *** *** ***** *******, and ** ******* *** ****** *** ************* ** *** ** our ********. **** ****** ** ******** *********** ******* ***** **** to ****** ***** ***** ********* *** ********* **** * ****** and ****** *******. *** ** *** ******** (********* *** **********, firmware, ***** & ****** *****) ** ******* ** *** **** team ** *** **.

Undisclosed Integrator #3

04/19/18 07:00pm

*******'* **** ***** ******* ***** ** *********** * **** ***** of ******* ********

** ** ********* ** ***** ******?

******* **** ***** *********** ********* **** ** ***** ** ***-**-*** solution

... **** ******....

****** *** "******* **" **** ******** **** ******* **** ** typical ** ***** ************

**, ** *** ******* ****************!

*'* *** ******** ** ***. *** ***'* *** ** *****, I **** **** ****.

Undisclosed Manufacturer #5

04/20/18 05:58am

***'* **** ****** **** ******* **** ******** ****** ***** **************** **, **'* ********* *** **** ***** *'** ***** **** them ** ***** ***** ** **/ ****** ****?

(*** ** *** ***** ***'* ** *** ********** ***** *** same ***** ** * ****** ******).

Avatar

Sean Patton

IPVM | In reply to Undisclosed Manufacturer #5 | 04/20/18 12:50pm

** ********* ***** ** ** * **** ******* ******** ** market, ***** ** *** *** ********** *********** *** ** *** co-founders**** ************* **-*******... ******.

Avatar

Matt Connolly

04/20/18 11:09pm

**********: * ** *** ********* ** *****, ***.

***** *** **** ******** ** ***-**-*** ***** ***** ******** ***** 2008 *** *** ********* ** ********** *********. ***** ****** * cameras, ************ ** *** **************, **** *** *********** ********, ** Hikvison. ** ***/***, ******* ** ******** **** **** ******** ***** we ******** *** *******. ***** ****** ** ***** ******* *** up ** *** **** ***** ******* ***** * ******* *****.

***** ******* *********** ** ******** *********, *** *****, *****-**** ********* in **********. **** ***** ********* **** **** **** *** ******* in ***** ********, *********** ***** **** *********.

** ********** *** ******* ****** ** ******** ***** ***** ** it ** ******** * ******* ****** *** **** *********. **'* safe ** ***, ***** *** ******** ***** **** ***** ****'* cool! ******* ** *** ***** ****** *** *******.

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