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.