Verkada Valued At $US3.2B
♦ Verkada Valued At $US3.2B – In a development that highlights the veracity of cloud-based security solutions, cloud security provider, Verkada, recently raised $US205 million in new funding, and is now valued at $3.2 billion.
Verkada says it will use the latest investment to “fulfill its mission to build an operating system for the physical world by enhancing existing offerings, developing new product lines, hiring across all functions, and continuing its geographic expansion”.
“We founded Verkada in 2016 with the vision to modernize the world of physical security — one of the last industries to experience a migration from on-premise solutions to cloud-based software,” said Filip Kaliszan, co-founder and CEO of Verkada.
“We started with security cameras and an intuitive cloud-based platform, and in just 6 years, we’ve expanded to include 5 additional product lines that help enterprises protect and manage their people and assets.”
“This latest commitment of capital is further validation from investors that we are well positioned to capture the opportunity that lies ahead.”
Since its last fundraise in January 2020, Verkada has quadrupled its customer count and its team size, and opened 6 new offices, the company notes. In the last 12 months, Verkada grew its team by 68 per cent, opened 3 new offices and nearly doubled total revenue year-on-year.
The company has 6 product lines, including CCTV cameras, single access control, environmental sensors, alarms, and guest and mailroom management that operate on a cloud-based software platform.
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