Verkada Raises $80 Million, Triples Valuation To $1.6 Billion

Published Jan 30, 2020 14:09 PM

Verkada's rocketing valuation continues. 9 months ago, they got a half-billion valuation and now they have announced more than triple that, at $1.6 billion, raising $80 million more.

The most amazing thing? Verkada's next big thing is physical access control. Not a joke.

While access control is generally looked at as slow and boring even within physical security, access control was the lead headline in Verkada's announcement.

Inside this note, we examine where Verkada is at, how this helps them, what risks they face going into access control and how this impacts the market.

Add *** ********* ** ****

*** **** ********* ******* ****** ** that ******* **** **** **** ** grow ********* **** *** ** *** in ****.

**** * ***** ***, ******* *** only ** *********, *** ********, ******* 10x+ ** ~***:

****** ******* *** ***** ** ** incredible ***** *** ***** ************. ** took ********, *** ******** ********** *****-**** startup, **** **** * ****** ** get **** **** ********* ******* ******* is ****** ** ******* **** ** half **** ****. *** **** $** million, **** **** *** *** ***** to ** ****.

******* ******* *** *** - *** salespeople, ****** **** ********* ***** ***** surveillance ************ ** ***** ******* **** Axis *** ********. **** *** ******* increase ** *** ********* *****, ******* may *** ***** ** **** *** Avigilon ***** ******** ******, ******* ***** companies ***** ** *** $*** ******* range ****** ***** *******.

** *** ******* ******* *** ****** away * *** ** **** ******** and ****** * *** ** **** calls ** ****, **** *** **** that ****.

Tripled ******* ****

******* ****** ******** ***** ******* (**** over ****) ***, *******, **** ** significantly **** **** **** ** ***** have ******** ***** ***** ********** ******** in *********** *** ********* ***** ** 2019.

**** *** ***** ***** **** **** selling ** *** ***** ***** **** been **** **** ***** *** ***** any ******* ****** **** **** *** massive ******** **** ** ********** ****.

**** ******** ******* ****** ***** ********** of *** *******, **** ***** ***** Verkada *** $*** ******* ** **** revenue, ***** ********* **** *** *** do (***** ** ***** ***** **** did $** ******* ** ****, ***** they ***** *** ****). ***** **** say **** ******* ******* ** ****, we ***** ****** ***** **** ******* was ** *** $** ** $** million *****, ***** ***** *** ***** valuation ** ** ********** *** ******* multiple.

**********, **** *** *** $** ******* and **** ** * **** *********** amount **** ** ******* *** ***** to **** ** *** ** *** physical ******** ******.

Access ******* ********

***************** ** ******** ****** *******, *********:

*************'* ***** ***** ******** *******'********** ** *** ** ******** ******** OS:

*** ******* **** **** ** **** Verkada ** *** ** ****** '****' a ***** ************ *******, **** *** bigger **** ****, **** *** ** the $** ****** ******* ******, ******, they **** ** "***** ********'* ******** OS." * ******* **** ***, ** even *** * **** ** ****, is ***** *** ****, ***** **** since ********* *** *** ******* **** at **** **** ** ****.

Plus ** ****** ******* *********

******* ********* ** ****** ******* ******* page*** ** *** ** **** ******* beyond *** ******* **** ** **** be ***** *** ********* **** ***** video:

*** ***** **** ********** ** ******** access ******* ***:

  • *** * *** ** ******* *********** - ***** *** ********* ***+ ***** surveillance ******** ** *** **** *** years, ***** ** **** * ******* in ******** ****** *******.
  • ***-***** / **** ********* - ******* access ******* ** * ******** ******** operation, ************* ****** ******, ** ** increases *********. ******, * ******** **** buys *******'* ***** *** ****** ******* will ****** ***** *****, ** **** because *** **** ** ********* *** the *** ******* ********* ***** ** prohibitive.
  • ******* *** * ***** ******* - If *** **** ***, ***, *** guys *** ******* *** *** ****, give **** **** ** ****. ****** has * ******* **** ****, ** take ********* ** **.

Negatives ** ****** ******* *********

*** ***** **** ********* ** ******* offering ****** ******* ***:

  • ****** ******* ******** **** ** *********** and **** ** ***** **-****. ******* can ***** *** *** ** *** video **** *** **** **** *** ditch ******* *** **** *** **** and ******** ******** *** ******** *** all *** ********** ****** **** ***** access *******. **** ******** *********** ********** on *** ******* ***********, ******* *** sales ***** ** *******.
  • ****** *** *** ****** ******* *** going ** ** *** **** ***** about **** ****** *** ********* *******. To ****, ******* *** *** ****** with ** ******** *** **** ***** surveillance ** * ******** **** ***** they **** ** ******** ***** *** support ***** ***** ***** **** ** sacrifice ***********. **** ****** *******, **** things ** *****, ** ***** ******* very ****** ******** *** *********. ** will ** *********** ** *** ** Verkada ** ***** *** ****.
  • *******'* ***** **** **** **** ******* access *******. ** **** ****** **** ******* a ***** ******* ***** **** *******. They *** **** **** ******, ********* and ***** ** ***** **********, ******* or *** **** ********** ****. **** is *** ***** ** **** ** well ** ****** *******, ***** ***** and ****** *** *******. *** *** knows. ***** ******* *********** **** ******** IT ******** ******* *** *** ******* *** *********.

Outlook - **** **** ******, ***** *******

******* ****** ** **** ** **** some ****** ******* *** ** **** be * ******** ** ***** ***** business *** **** **** *** **** pain **** *** *****. ***** ***** machine ** ****** *** ** ** sell * ******* **-**** ****, ** they ****** ******** **** *********. ****** that, ****** ******* ** * ***** for *********** *** ******* **** ***** it.

Video ***** ***** *** **** *************

**** ** ****** ******* ***** ** being *****, ******* ***** *** * chance ** ******* *** *********. **** clearly **** ***** * ***** ***** system ** ******* *** ****** ***** direct ** ** ********. *** *** they *** **** ** ****** *** question?

******* *** ***** ** ** **** high ** * ***-******** *****. *********-** ********** **** ********* **** ******* **** ongoing ****** ********. ** *** **** term, **** **** ******** ***********, ***********, cash **** **** ********* **** ****** value.

*** *** **** *** **** ** really *** ********?

*** **** *** ***** *** ***** to '**** *** ****** **' ** Verkada? **** **** ********** ** *** question.

*** ***, ******, ** *** *** to *** **** $** ******* ** funding, ******* *** ******** ******** *********, does **** *** **** ****.

Vote / ****

Comments (28)
UI
Undisclosed Integrator #1
Jan 30, 2020

****** ***** *** ********* ** *** days ** **** **, *** ********* and **** **********. *** ****** ** high ***** ******** ******* ****.

****** ******* ** ****** *** ******* of ******** ***** ******** ******* *******. I *** *** **** ********* ******* battery ********* ******* ******** **** * wireless ********* *** *********** ******* ******** modules *** ******** *******.

(3)
ZS
Zachary S.
Jan 30, 2020
Gen IV Technology

** ****** *** ******* ******** *** AI ********** ****, * ***** *** biggest ****** ** ***** ******* ********* access ******* ** ***** ** ** the ****** ********** ** *** **** "Security"... *** ******** *** **** *** share ** ******** *** *****-****** ******** DDoS *******, ** ********* ****'** ******* their *** ******** *** ***** **** cutting **** ********** **********. **'** ********* be *********** ** *** *** "***** based" ****** ******* ***** ***.

** ******** *** ******* ***** ** nothing ********** ** **** ******** ***** based ** ********** ********** *** *** access ******* *'* *** **** **** the ***** ******** ** **********.

(2)
(1)
(2)
ZS
Zachary S.
Jan 31, 2020
Gen IV Technology

********? *********? ***** **. * **** anyone ** *** "**** ** **********" - ***** ** **** ** ******* emerge ** ***** *** *****.

(1)
Avatar
Brian Rhodes
Jan 30, 2020
IPVMU Certified

* ***** ******* **** **** * big **** ** *** ********** ******* access **.

** ******* ******* ** ***** ****** low *** ***** **** ** **** $80M ** ********* *** ******* ** others ** ******** **** **** (*.*.:********* & ******* **** *******) **** *** ****** ****** *** their ******.

** *** ***** ****, **** *** aforementioned********* ********* *** **** * *** ******* in *** **, *** (**** **** potential ******* **********) *** *******'* ******** is *** **** **** ************** ** less ********* **** ********* ******.

(2)
(3)
UI
Undisclosed Integrator #1
Jan 30, 2020

**************. ****’* * *** *********. ** ties ** “**********”.

*** *** ****** **** ***** ***** “cheaper” *** ******** * ***** ******* of *** ******** ******* ** *** big ****.

**** *** ****** *****, *** ******* the ***** **** *** ********* ******.

********** ** ********** ** *** *********** residential *** *****.

******* ***** ** *** ***** *******, at *** ***** **** ** ********** with * **** *** **** ******* money.

** * * ***, *** ** much ***, *** **** ***** *** the ********** ****/** **** ****.

(1)
JH
John Honovich
Jan 30, 2020
IPVM

*** **** ***** *** *** ********** when/if **** ****.

**** ** *** ***** ******* ***** fix?

UI
Undisclosed Integrator #1
Jan 30, 2020

* ***** **** ***** *** *** “it’s * ***** ** *** ****’* paying *** *******” ** ***** * freemium **** ***** **** ***********.

****** *** ***** ***** ******* ******, there ***’* *********** ********* ** *** users ** *******.

****** ******** ******** *** *** ******. Just **** ****, ******* ***** *** storage **** **** *******. ***** * 2 ****** *** **** ******* ****** download ***.

** *** ***, *** *********** *** store *********** ***** ******* *** ******** off-line ****** *** ****** ****** ** products **** *******. ***** **** *** be **** ** *** ****** *** cloud ***.

UI
Undisclosed Integrator #2
Jan 30, 2020

* *** * ******* ******* ****** us ** *** ***** **** ******? Apparently *** *** ***** ** ****** to **** ***** / ******** ****** control ******** ** *********** *** *******, act **** **** ** ********* ************* and **** ** ******* ******** ** service, ***********, ***.

**'* ********** **** *******. *** **** thing ***** ********** *** ******** ** is ****** * ***** ** ***** in ** ********* ******* **** *** some ********* ****** *** ** ** town ** * **** ********. **** a ****** **** *** ** **** a ** **** ** *** *** 10x **** ******* ******* ***'** ************* product ********* ***** *** ****.

(1)
(5)
JH
John Honovich
Jan 30, 2020
IPVM

******

*********** **** * **** ******** ******** to ******* ********** *** **** ** sale; *** * ******* ****** ******* system.***** **-****** ******** ********** **** *****:

(1)
Avatar
Greg Thornbury
Jan 30, 2020
Facility Solutions Group, Inc. • IPVMU Certified

* ***** **** ** * ******** that **** **** **** ******. **** they ********** *** **** ** ********* live **** ******* ** **** ********, permitting, **** ********** *** *******, **** will ******* ****'** ******* *** **** the ***** *** ** *** ****.

* **** ***** **** ****** ******* is *** '**** *****' *** *** current ***** ***** **** **** ** place.

**** ** .**

****

(9)
(1)
(4)
JH
John Honovich
Jan 31, 2020
IPVM

* ***** **** ** * ******** that **** **** **** ******

****.

* *** * ********:

(*) ******* *** ******* ********* *** no *** **** *** ** ****** control. ***, **** ***** ***********, **** can *** "***** ********* **** ***** about ** **** ****, **** *** wrong ***** ** *****."

(*) ******* ****** ************** *** ********* access ******* **** **, *** ********* or **** ** ********** *** ***** a *** ***.

(*) ******* **** *** ******** **** about ****** ******* **** **** *** just ****** ** **** ********* ** get **** ****** ******* **** *** the *** ***** *** ***'* ********** the ****** ****** ** ****** *******.

(5)
UM
Undisclosed Manufacturer #5
Jan 31, 2020

* *** **'* * **** ** between #* & #*

(1)
Avatar
Morten Tor Nielsen
Jan 31, 2020
prescienta.com

* ********.

*** *******, *** ******** *********** ** not ***** ** ****** ****. *** system **** *** * ****** *** a **** ***** ** **** **** the ****** - **** ******** *** system. *'** ***** ** ****.

*** **** ** ***** ** ******* with *** ********, * *** *** impression **** **** ** *** ****** control ******* *** ***** ***** ** the **'* *** * ***** ******* (rightfully) **** ** *********** ****.

**** * (***) ******** ** ***** with *** ****** ** * ****** and ******** ********* *** * *****, smooth, **** ******* ** **** "**** works" *** *** * ***** *** seamless *********** **** *** *****, ** bet ** **** **** ***** **** pick *** *** *** ** *** block.

***** *** ***** * ****** ** ways **** ******* *** ***** **** up - *** * ***'* ***** it **** ** *** ** ****** control ***** *** ********* ** ******.

(2)
(2)
Avatar
Greg Thornbury
Jan 31, 2020
Facility Solutions Group, Inc. • IPVMU Certified

******;

** *** **** * **** **** at *** ******* ******, ***** *** plenty ** ******* *** ******* ********, both **-******* *** *****-*****, **** *** look *** **** *** ***** *********** with ***** **** ***'** ******* *****.

****'** *** *****. ****, *****'* **** of ******* *** *** *******-******* ******** that ********* **** ** *** ******. These **** ***** ** *** ***** of ********* '***********' ****** ******* ** a *** ** **********.

***'* *** ** *****; **** ***** on ******** **** ***** ***** ** the **'* ** ******* *** **** applications. *** * ******* ***** **** there *** **** ************* *** ******* to ***** **** **!

(2)
Avatar
Morten Tor Nielsen
Jan 31, 2020
prescienta.com

** ***** ** **** : ******** physical ********* *** ********* ** *** incumbents *** ********* ** ******* *** (locks, *******, *****, ******* ******* ***.). I ***'* *** *** ****** ** going ** ***** ******** ** **** the ****** ********** ** ****** *********.

** ***** ** *** **, *'** say ****: ** *** ****** *'* a ******** ***** ***. *** ******* is **** * ** ******-****, *******, eat *** **** *** ***** ******.

(2)
(1)
(5)
UI
Undisclosed Integrator #1
Jan 31, 2020

********** ** ****** ** ***** *****. As *** ************, ********** ***** **** it. **** ** *** ******** *** let *** ** *** ** *** rest.

** ***** **** *****/******* **** ** phone ** *** ********* ********** *** our ******** ** ******* *** *** it’s * **** ** *** ****.

**** * **** ********* *** **** with * *********** ** ******* *** enroll **** * *** **** * Schlage **** **** *******. **** **** the ****** **** ****.

*** ** ***** ** ******/**** * network *** ******** ***** *****? ** there ******* ***?

******* ******* *** ********** ******/*** ****? Full ****** *********?

**’* ****** ******

(1)
(1)
U
Undisclosed #4
Jan 31, 2020

*** ****** **** **** ****** *** a *****.

******** ***********® ***** **** ******** ***** (PoE ******) - **** *****

**** ***'* ***** * ****** ** the **** ******.

(1)
(1)
(1)
JH
John Honovich
Jan 31, 2020
IPVM

******, * ** ***** **** *** that **** ** ****** ******* ******** is ***** *** ******* *** ** opportunity ** ******* ** **** ********* against ****** *******, *** ***** *** still **** ** ********** ******** **** remain ** ****** ******* **** **** cannot *****.

*** *******, *** **** ********* **** Verkada *** ***** *** *** ***** is *** **** ** *****, *.*., as **** *********, **** **** **** PoE *** *** *** ****. **** is * ******** ********* *** ***** sales ****, ** ** ******* ******** and **** **** **** *** **** trial *******, ***.

**** *** **** ***** ** ** on ****** *******? **** *** **** out **** ***** *********** *** **** can't **** **** **** **** ***, they **** **** ******* **-**** ** do *** ****** ** *** *******, locking *******, ***. **** ***** * longer ***** ***** *** **** ********* support.

* ** ***** ******* *** **** this * ******* ****, **** **** video, **** ****** ** ****** ******* but *** ********** ******* ***** **** a **** ******, ******* ***** *******, agree/disagree?

(2)
Avatar
Morten Tor Nielsen
Feb 03, 2020
prescienta.com

*** ***** *** ***** **** ** logistical ******** **** ****** ** ****** control **** **** ****** *****.

*****, *** *** **** ******* ** the **********, *** * ***'* ***** you **** ** ***** ***** ****** problem ** ** **********. ** *** can ***** ********* **** *** ******* - ** ******** - ** ****** than *** ***********, **** *** ****** should ****** *** *******. *********, ***** are ****** ** ***** ******* ** consider - *.*. ******* ****** ** drop ********* ** ****. *** ******* Milestone ** *********** ******, *** ******* they've **** ******. * ******* **'* the **** ****** ******** *********** **** in ****** *** *** *** ****. It's ********* **** *** ****** ** admit **** **** *****, ** ****'** sing *** ****** ** ***** ****** - ********** ** *** ********, *** once *** ******** ******* *** ************, they'll **** **** *** ******** *** keep ******** *** *** **** *** dog.

**** ** * ******** ********* *** their ***** ****, ** ** ******* friction *** **** **** **** *** free ***** *******, ***. **** *** they ***** ** ** ** ****** control?

* ***** **** **** ***'* ** the **** ****** **** ****** *******. And * ******* ***** **** *** cameras *** *** ****** *****. **** people *** ****** **** ******* ** the ****** **** (*** ******** **** are ***** **** **** *********), **** it's ******** ***** ****** *** ******* to **-**** ** ****** ******* ************ when *** **** *****. *** ****-******** I ******* **** ***** **** *** a ***** ****** *** * *** cards. **** ** **** *** ** works. *** **** ** ** *** reader ** ****** ***, * ***** comparable ** * ******.

**** ****, * ***'* **** *** wonder ** ****'** **** **** ******** on *** ****** ****, ******* ***** was (*****) ** ****** ******* *********** to ***** ***. **** * ****** system * ***** **'* **** ******** that * *** ***** *** ***** to ** ** ***********, ** ******* they ****** **** ** *** ** to ****** ***** *****.

JH
John Honovich
Feb 03, 2020
IPVM

** *** *** ***** ********* **** you ******* - ** ******** - is ****** **** *** ***********, **** you ****** ****** ****** *** *******.

******. * ** *** ****** ******* should *** ***** ****** ******* ** all. ** ***** ** **** **** is ****** ** **** *** **** as * ******* **** (*********** ******* gets **** ******* *** *******) **** it **** ** **** **** ** transformation ** ********** ** ****** ******* generally.

**** ****** *** ****** **** ******* on *** ****** **** (*** ******** they *** ***** **** **** *********), then **'* ******** ***** ****** *** Verkada ** **-**** ** ****** ******* installation **** *** **** *****.

****, * *****. * ** ***** that ***** *******'* ****** ******** *** an ****** *** ** ***** **% of ***** ***** ********, **** ************* but *** ********* ************ ****** ** lead **** ** * ******* ************ where ***'* ********* *******.

Avatar
Rick Caruthers
Jan 30, 2020
Galaxy Control Systems

**** ****, * ***** *'* ***** to **** ** ** ** **** game ***....****** **** * ******* ** Yeti??

(12)
UM
Undisclosed Manufacturer #3
Jan 30, 2020
(2)
(5)
(3)
Avatar
Robert MacMillan
Jan 31, 2020
VXG

****** **** ****** *** * **** cooler *** ********* ** * *******?

** *** ***********, **** ** ***** interesting. * ***'* ***** ***** ****'* been **** **** ******* ******* *** into * *********** ******** ******* ****? Ring *** **** **** ****** * lot **** *** **** **** ******* a **** ***** *******.

*** **** ****** ******* ** ********? I ***** **** $*** ** **-** months ** ****** ** ********* ***** vision/roadmap. ******* **** *** ** ***** cloud ********, ** **** ** *** 'Amazon ********* $*.** *********** ** *******' in ****?

(2)
JH
John Honovich
Jan 31, 2020
IPVM

***** **** $*** ** **-** ****** of ****** ** ********* ***** ******/*******.

** **** :) ********* ** *** they ***** **. *** *******, ** they *** ** *** ********* ** the ** *** ****, **** ** easily * $*** ******* **** **** on *********.

**** ***** **** *** ** *** near ****** *** **** ***** **** try ** ***** *****. ** ** 2021, **** ****** $*** ******* * would *** ** *********. *** ****** it ** ***** ** ** ***, just **** ** ****** ******* ** the ****** ****.

(2)
Avatar
Robert MacMillan
Jan 31, 2020
VXG

*** ***** ** ***** ***** * Series *.

** *********** ****, ** ***** **** their **-******* **** ********* ******* * significant ******* ** *** $***, ****** A, *******. * ****** *** **** affected ****** *** ********.

Avatar
John Williams
Jan 31, 2020

*'* *** **** ** ****'** ** well, *** * **** **** ******* Everett ******* **** **** ***** *** - "* ******* ****, * ******* there, ****** **** ** **** **!"

JH
John Honovich
Feb 01, 2020
IPVM

******* *** ********* * **** ********* about *** **** *********** **-******* *** ******* ******** ********, ***** *******.

**** *** **********:

** **** ***** ** *********, **** 50 ** **** *** ******** *********. All ** *** *************** ** ** the ******** ****.

******* *** ** *** ****** ** salespeople **** *********, ***** ** ********** out ** *** ******** *** * real ************. ** ***** * *** of **** ******* ***** *******'* ***** excesses *** ***** *******, **** ****** underscores ***.

****, ** ********* ** **** ** VMS, *******, *********, ****** *******, ***., is **** *****-*******. **** *** ********* going ** ****** *********** *** **** will **** **.

**** *******, **** ********** * *** theme *** ****** *** *******, *** broader **** **********:

*** ******* ** ** ** *** essential ******** ******** ******** ***** *** every ********, *** *** ********** ** a ****** ********** *** **************.

******** ******** ********:

** ******* **** *** ******** *********** of ***** ********* ******* –access *******, cameras, eventually other ******* ** ********* – in a ******, ****** ******************** ** *** ******** ************** *** Verkada ** *** **** ***.

*** ****** ***** ** *** *********** to ****** **** **** ***** *****. For *******, ******* ***** ** ********** employees *** ********* **cleaning *** ***, warming *** ********, locking the door, or sounding ** ***** **** *****’* ***** in the building. [emphasis added]

* ***** ****** ******** ********** ******... The *** **** ****** *** (*) for *********** **** **** * ******* offering, ***** **** *** ** ******** close ** **** ******* ******* **** Verkada. *** (*) *** **** **** lock-in ** ***** ** ** ********** and *** ********** ******* *** ******* will ** ******. ** ** ************ in *** *********:

******* ** ************* ******. ****’* *** mainly ** *** ****** ** *** system. **** ******** **************, *****’* *significant ******* ********** from the customer: she has invested both in the hardware and the labor to physically install a system throughout her buildings.

***, ******* ***** **** ** **** 3% ** *** ******* ** *** market *** **% ** *** *******...

(1)
DR
Dan Rice
Feb 03, 2020

**** *** **** **** ******* **** taking **** ******** ******* *** * do *** *** **** ***** * player ** *** *************. ** ***** they ***** **** * ******** ****** in *** ***** **** ** ********. Most *** ************* ******* ******* ***** means ****** ** ****** ***** *** often **** *** ****** **** *** Fire ********. ** *** ****** **** and **** ************** **** ******* **** in ***** ** ***** ***** *** fees **** **** *** ** *** electronic ***** *** **** ****** *******. There ** **** *** ****** ** service. **** ****** *** *** ** with * ****** ***** ***. **** few ****** **** ***** ***** ******** to ** ******** *********. ***** ** not * ****** ****** ******** ** access *******. * **** **** ***** it *** **** ** ***** *** still *** **** ****** ********** ** a ****** *****. ****, ***** **** always ** * ******** ********* ******* to ****** ******* **** **** ******* an ********* ************** ** *******.