Enterprise Video Security Company Verkada Raises $15M in Series A Funding Led by Next47, Siemens' Venture Firm
Poster: SySAdmin
Posted on April 11, 2018 at 9:21:01 AM
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style="Margin:0;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0;padding:0;text-align:left"><table class="spacer" style="border-collapse:collapse;border-spacing:0;padding:0;text-align:left;vertical-align:top;width:100%"><tbody><tr style="padding:0;text-align:left;vertical-align:top"><td height="16px" style="-moz-hyphens:auto;-webkit-hyphens:auto;Margin:0;border-collapse:collapse!important;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;hyphens:auto;line-height:16px;margin:0;mso-line-height-rule:exactly;padding:0;text-align:left;vertical-align:top;word-wrap:break-word"> </td></tr></tbody></table> <h4 class="text-center" style="-moz-hyphens:none;-webkit-hyphens:none;Margin:0;Margin-bottom:10px;color:#fff;font-family:Montserrat,Arial,sans-serif;font-size:18px;font-weight:400;hyphens:none;line-height:22px;margin:0;margin-bottom:10px;padding:0;text-align:center;text-transform:uppercase;word-break:none;word-wrap:normal">News From Verkada</h4><h5 class="text-center" style="-moz-hyphens:none;-webkit-hyphens:none;Margin:0;Margin-bottom:10px;color:#fff;font-family:Montserrat,Arial,sans-serif;font-size:14px;font-weight:500;hyphens:none;line-height:18px;margin:0;margin-bottom:0;padding:0;text-align:center;word-break:none;word-wrap:normal">Transmitted by PR Newswire for Journalists on <span class="prevent-break" style="display:inline-block">April 11, 2018 09:00 AM EST </span></h5></th><th class="expander" style="Margin:0;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0;padding:0!important;text-align:left;visibility:hidden;width:0"></th></tr></table></th></tr></tbody></table><table class="row header" style="background:#e5f2f3;border-collapse:collapse;border-spacing:0;display:table;padding:0;position:relative;text-align:left;vertical-align:top;width:100%"><tbody><tr style="padding:0;text-align:left;vertical-align:top"><th class="small-12 large-12 columns first last" style="Margin:0 auto;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0 auto;padding:0;padding-bottom:0;padding-left:30px;padding-right:30px;text-align:left;width:570px"><table style="border-collapse:collapse;border-spacing:0;padding:0;text-align:left;vertical-align:top;width:100%"><tr style="padding:0;text-align:left;vertical-align:top"><th style="Margin:0;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0;padding:0;text-align:left"> <table class="spacer" style="border-collapse:collapse;border-spacing:0;padding:0;text-align:left;vertical-align:top;width:100%"><tbody><tr style="padding:0;text-align:left;vertical-align:top"><td height="24px" style="-moz-hyphens:auto;-webkit-hyphens:auto;Margin:0;border-collapse:collapse!important;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:24px;font-weight:400;hyphens:auto;line-height:24px;margin:0;mso-line-height-rule:exactly;padding:0;text-align:left;vertical-align:top;word-wrap:break-word"> </td></tr></tbody></table> <h1 style="Margin:0;Margin-bottom:10px;color:#4D4E53;font-family:Montserrat,Arial,sans-serif;font-size:20px;font-weight:500;line-height:28px;margin:0;margin-bottom:0;padding:0;text-align:left;word-wrap:normal">Enterprise Video Security Company Verkada Raises $15M in Series A Funding Led by Next47, Siemens' Venture Firm</h1> <table class="spacer" style="border-collapse:collapse;border-spacing:0;padding:0;text-align:left;vertical-align:top;width:100%"><tbody><tr style="padding:0;text-align:left;vertical-align:top"><td height="24px" style="-moz-hyphens:auto;-webkit-hyphens:auto;Margin:0;border-collapse:collapse!important;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:24px;font-weight:400;hyphens:auto;line-height:24px;margin:0;mso-line-height-rule:exactly;padding:0;text-align:left;vertical-align:top;word-wrap:break-word"> </td></tr></tbody></table> </th><th class="expander" style="Margin:0;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0;padding:0!important;text-align:left;visibility:hidden;width:0"></th></tr></table></th> </tr></tbody></table> <table class="row content" style="background:#fff;border-collapse:collapse;border-spacing:0;display:table;padding:0;position:relative;text-align:left;vertical-align:top;width:100%"><tbody><tr style="padding:0;text-align:left;vertical-align:top"><th class="small-12 large-12 columns first last" style="Margin:0 auto;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0 auto;padding:0;padding-bottom:16px;padding-left:30px;padding-right:30px;text-align:left;width:570px"><table style="border-collapse:collapse;border-spacing:0;padding:0;text-align:left;vertical-align:top;width:100%"><tr style="padding:0;text-align:left;vertical-align:top"><th style="Margin:0;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0;padding:0;text-align:left"> <table class="spacer" style="border-collapse:collapse;border-spacing:0;padding:0;text-align:left;vertical-align:top;width:100%"><tbody><tr style="padding:0;text-align:left;vertical-align:top"><td height="24px" style="-moz-hyphens:auto;-webkit-hyphens:auto;Margin:0;border-collapse:collapse!important;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:24px;font-weight:400;hyphens:auto;line-height:24px;margin:0;mso-line-height-rule:exactly;padding:0;text-align:left;vertical-align:top;word-wrap:break-word"> </td></tr></tbody></table><p class="sub-headline" style="Margin:0;Margin-bottom:10px;color:#4D4E53;font-family:Montserrat,Arial,sans-serif;font-size:14px;font-weight:500;line-height:20px;margin:0;margin-bottom:16px;padding:0;text-align:left"><strong>New investment will expand the development of Verkada's IoT computer vision capabilities and accelerate the company's faster-than-market growth rate</strong><p><span class="xn-location">SAN MATEO, Calif.</span>, <span class="xn-chron">April 11, 2018</span> /PRNewswire/ -- Verkada, leading provider of next-generation video security systems for businesses and schools, today announced <span class="xn-money">$15 million</span> in Series A financing. The funding round was led by Siemens' venture fund, Next47, with participation from existing investors, including First Round Capital, entrepreneur <span class="xn-person">Hans Robertson</span>, and <span class="xn-org">Stanford</span> professor and computer scientist, Héctor GarcÃa-Molina. </p>
<p><b>Challenging the status quo in a massive market<br></b>The funding comes as Verkada has experienced rapid growth in demand for its technology, particularly among K-12 schools, colleges and universities, retailers, hospitality brands and major corporations. <span class="xn-location">Yuma County</span> School District in <span class="xn-location">Arizona</span>, for instance, recently selected Verkada to replace its existing video security equipment. The new 1,000-camera system will give school administrators new capabilities, such as the ability to share security camera live feeds via SMS text and email.</p><th class="expander" style="Margin:0;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0;padding:0!important;text-align:left;visibility:hidden;width:0"></th></tr></table></th></tr></tbody></table><table class="row content" style="background:#fff;border-collapse:collapse;border-spacing:0;display:table;padding:0;position:relative;text-align:left;vertical-align:top;width:100%"><tbody><tr style="padding:0;text-align:left;vertical-align:top"><th class="small-12 large-12 columns first last" style="Margin:0 auto;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0 auto;padding:0;padding-bottom:16px;padding-left:30px;padding-right:30px;text-align:left;width:570px"><table style="border-collapse:collapse;border-spacing:0;padding:0;text-align:left;vertical-align:top;width:100%"><tr style="padding:0;text-align:left;vertical-align:top"><th style="Margin:0;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0;padding:0;text-align:left"><center data-parsed="" style="min-width:510px;width:100%"><img src="https://mma.prnewswire.com/media/665429/Verkada_Security_Cameras.jpg" alt="" align="center" class="float-center" style="-ms-interpolation-mode:bicubic;Margin:0 auto;clear:both;display:block;float:none;margin:0 auto;max-width:100%;outline:0;text-align:center;text-decoration:none;width:auto"></center></th><th class="expander" style="Margin:0;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0;padding:0!important;text-align:left;visibility:hidden;width:0"></th></tr></table></th></tr></tbody></table><table class="row content" style="background:#fff;border-collapse:collapse;border-spacing:0;display:table;padding:0;position:relative;text-align:left;vertical-align:top;width:100%"><tbody><tr style="padding:0;text-align:left;vertical-align:top"><th class="small-12 large-12 columns first last" style="Margin:0 auto;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0 auto;padding:0;padding-bottom:16px;padding-left:30px;padding-right:30px;text-align:left;width:570px"><table style="border-collapse:collapse;border-spacing:0;padding:0;text-align:left;vertical-align:top;width:100%"><tr style="padding:0;text-align:left;vertical-align:top"><th style="Margin:0;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0;padding:0;text-align:left">
<p>"Verkada is helping us simplify and strengthen critical security infrastructure across our district," said <span class="xn-person">Dean Farar</span>, CIO at Yuma Educational Technology Consortium.</p>
<p>As a challenger in the <span class="xn-money">$16 billion</span>-a-year market for commercial video surveillance technology, Verkada offers a range of benefits, including stronger data security, user-friendly software that works on any device, and automated SMS alerts that get sent when a camera detects an unusual event. Each Verkada camera is an all-in-one system that stores video locally and operates seamlessly with Verkada's cloud-based software, eliminating the need for equipment such as digital video recorders and on-premise servers.</p>
<p><b>Funding to accelerate R&D in computer vision and fuel sales team growth<br></b>Verkada will use the additional capital to scale its manufacturing operations, continue to rapidly grow its sales team, and expand the development of enterprise applications of computer vision and machine learning.</p>
<p>"We've seen phenomenal traction with our product so far and will be significantly growing the size of our engineering team so we can build new products even faster," said Verkada CEO and co-founder, Filip Kaliszan. "This will include enhancing our existing products, adding new products, and building out new features, like advanced A.I. capabilities."</p>
<p><b>Proven founding team partners with Global 100 leader to accelerate growth<br></b>Verkada's founding team includes software engineers who previously founded CourseRank, which was acquired by Chegg, and hardware experts and an original co-founder from Meraki, the cloud-based networking leader that was acquired by Cisco Systems for <span class="xn-money">$1.2 billion</span> in 2012. </p>
<p>"Verkada is building an enterprise-grade video surveillance solution that has all of the functionality and ease-of-use of cloud-managed consumer video cameras," said <span class="xn-person">Lak Ananth</span>, Managing Partner & CEO of Next47. "That is a category re-defining combination in the market for physical security and advanced building systems."</p>
<p>Members of Verkada's team will be in attendance at ISC West, the largest physical security trade show in <span class="xn-location">North America</span>, held this week (<span class="xn-chron">April 10-13</span>) at Sands Expo in <span class="xn-location">Las Vegas</span>. </p>
<p>Learn more and get a free trial of Verkada's technology at <a href="http://email.prnewswire.com/wf/click?upn=7VDqtAz2AW-2FeY7Xnbvsasd24eWiGD8Jh7HhliMwKgRk-3D_q1N77mbql2CxsoEfo2fFiZ6dnlev64IGUSa1KT1DDw1MuprZmQ6aap9NY9k0Le75tDI9rSheCr9xJmgO63dUhP-2F-2BZ0gxwGSFvMWjvNbOVp2-2F0i26wQx3ndYJCQsNWDQ1-2FnGTHCLtc1GUNqqK5uzs8-2FCSh99HEPkRz2wB-2F3x5GDGkjjV8RY46wMxbV3WDXfeYDpIglI3QNIHfKQXMAPhC5cE75qJ-2BO3dv9XxekAomYtSuE09hri2ycvBzwofgRwDOYy6dd01PkuOVbmxM3yxBGF96X05zvuYO4KKLgN9XwhsDHJ0zm3hhy8-2F8hOQJOFyYxWeZDI5ESR4YlYhHzzvGqw-3D-3D" rel="nofollow" target="_blank">https://www.verkada.com/</a>.</p>
<p><b>About Verkada<br></b><a href="http://email.prnewswire.com/wf/click?upn=7VDqtAz2AW-2FeY7Xnbvsasd24eWiGD8Jh7HhliMwKgRk-3D_q1N77mbql2CxsoEfo2fFiZ6dnlev64IGUSa1KT1DDw1MuprZmQ6aap9NY9k0Le75tDI9rSheCr9xJmgO63dUhP-2F-2BZ0gxwGSFvMWjvNbOVp2-2F0i26wQx3ndYJCQsNWDQ1-2FnGTHCLtc1GUNqqK5uzs8-2FCSh99HEPkRz2wB-2F3x5GDGkjjV8RY46wMxbV3WDXfeYROUdBAlwMgAvwO5htxJs6T3W0CgDqwvETJJSg2kfPDyWrtIA2eDY2LkZ3V2cH4SrS-2B-2Fz8nXgoVdaro6D7F7KoDW-2BpKwpxF09vXSo5V4stBOV9D-2BYWTxXw9jQkVYcXJpZT6TuZ-2F5pJobPoL7eb0gLPQ-3D-3D" rel="nofollow" target="_blank">Verkada</a> makes enterprise physical security systems for the Internet of Things (IoT) era. Verkada's platform combines plug-and-play security cameras with intelligent, cloud-based software â all in a scalable, user-friendly system. Hundreds of organizations use Verkada to enhance physical security and gain new insights that improve the efficiency of their operations. The company was founded in 2016 by computer scientists and security experts from <span class="xn-org">Stanford University</span>, and <span class="xn-person">Hans Robertson</span>, the former COO and co-founder of Meraki. Verkada is headquartered in <span class="xn-location">San Mateo, California</span>.</p>
<p><b>About Next47<br></b>Next47 is a global venture firm created by Siemens that invests in, and partners with, entrepreneurs who think big and build industry-defining companies. With offices in <span class="xn-location">Boston</span>, <span class="xn-location">Beijing</span>, <span class="xn-location">London</span>, <span class="xn-location">Munich</span>, <span class="xn-location">Paris</span>, <span class="xn-location">Palo Alto</span> and <span class="xn-location">Stockholm</span>, Next47 gives start-ups unparalleled access to one of the world's largest portfolios of customers in the areas of industry, energy and infrastructure as well as domain expertise in the deep technologies that impact those customers.</p>
<p> </p>
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<p><b>Challenging the status quo in a massive market<br></b>The funding comes as Verkada has experienced rapid growth in demand for its technology, particularly among K-12 schools, colleges and universities, retailers, hospitality brands and major corporations. <span class="xn-location">Yuma County</span> School District in <span class="xn-location">Arizona</span>, for instance, recently selected Verkada to replace its existing video security equipment. The new 1,000-camera system will give school administrators new capabilities, such as the ability to share security camera live feeds via SMS text and email.</p><th class="expander" style="Margin:0;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0;padding:0!important;text-align:left;visibility:hidden;width:0"></th></tr></table></th></tr></tbody></table><table class="row content" style="background:#fff;border-collapse:collapse;border-spacing:0;display:table;padding:0;position:relative;text-align:left;vertical-align:top;width:100%"><tbody><tr style="padding:0;text-align:left;vertical-align:top"><th class="small-12 large-12 columns first last" style="Margin:0 auto;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0 auto;padding:0;padding-bottom:16px;padding-left:30px;padding-right:30px;text-align:left;width:570px"><table style="border-collapse:collapse;border-spacing:0;padding:0;text-align:left;vertical-align:top;width:100%"><tr style="padding:0;text-align:left;vertical-align:top"><th style="Margin:0;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0;padding:0;text-align:left"><center data-parsed="" style="min-width:510px;width:100%"><img src="https://mma.prnewswire.com/media/665429/Verkada_Security_Cameras.jpg" alt="" align="center" class="float-center" style="-ms-interpolation-mode:bicubic;Margin:0 auto;clear:both;display:block;float:none;margin:0 auto;max-width:100%;outline:0;text-align:center;text-decoration:none;width:auto"></center></th><th class="expander" style="Margin:0;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0;padding:0!important;text-align:left;visibility:hidden;width:0"></th></tr></table></th></tr></tbody></table><table class="row content" style="background:#fff;border-collapse:collapse;border-spacing:0;display:table;padding:0;position:relative;text-align:left;vertical-align:top;width:100%"><tbody><tr style="padding:0;text-align:left;vertical-align:top"><th class="small-12 large-12 columns first last" style="Margin:0 auto;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0 auto;padding:0;padding-bottom:16px;padding-left:30px;padding-right:30px;text-align:left;width:570px"><table style="border-collapse:collapse;border-spacing:0;padding:0;text-align:left;vertical-align:top;width:100%"><tr style="padding:0;text-align:left;vertical-align:top"><th style="Margin:0;color:#0a0a0a;font-family:Montserrat,Arial,sans-serif;font-size:16px;font-weight:400;line-height:1.3;margin:0;padding:0;text-align:left">
<p>"Verkada is helping us simplify and strengthen critical security infrastructure across our district," said <span class="xn-person">Dean Farar</span>, CIO at Yuma Educational Technology Consortium.</p>
<p>As a challenger in the <span class="xn-money">$16 billion</span>-a-year market for commercial video surveillance technology, Verkada offers a range of benefits, including stronger data security, user-friendly software that works on any device, and automated SMS alerts that get sent when a camera detects an unusual event. Each Verkada camera is an all-in-one system that stores video locally and operates seamlessly with Verkada's cloud-based software, eliminating the need for equipment such as digital video recorders and on-premise servers.</p>
<p><b>Funding to accelerate R&D in computer vision and fuel sales team growth<br></b>Verkada will use the additional capital to scale its manufacturing operations, continue to rapidly grow its sales team, and expand the development of enterprise applications of computer vision and machine learning.</p>
<p>"We've seen phenomenal traction with our product so far and will be significantly growing the size of our engineering team so we can build new products even faster," said Verkada CEO and co-founder, Filip Kaliszan. "This will include enhancing our existing products, adding new products, and building out new features, like advanced A.I. capabilities."</p>
<p><b>Proven founding team partners with Global 100 leader to accelerate growth<br></b>Verkada's founding team includes software engineers who previously founded CourseRank, which was acquired by Chegg, and hardware experts and an original co-founder from Meraki, the cloud-based networking leader that was acquired by Cisco Systems for <span class="xn-money">$1.2 billion</span> in 2012. </p>
<p>"Verkada is building an enterprise-grade video surveillance solution that has all of the functionality and ease-of-use of cloud-managed consumer video cameras," said <span class="xn-person">Lak Ananth</span>, Managing Partner & CEO of Next47. "That is a category re-defining combination in the market for physical security and advanced building systems."</p>
<p>Members of Verkada's team will be in attendance at ISC West, the largest physical security trade show in <span class="xn-location">North America</span>, held this week (<span class="xn-chron">April 10-13</span>) at Sands Expo in <span class="xn-location">Las Vegas</span>. </p>
<p>Learn more and get a free trial of Verkada's technology at <a href="http://email.prnewswire.com/wf/click?upn=7VDqtAz2AW-2FeY7Xnbvsasd24eWiGD8Jh7HhliMwKgRk-3D_q1N77mbql2CxsoEfo2fFiZ6dnlev64IGUSa1KT1DDw1MuprZmQ6aap9NY9k0Le75tDI9rSheCr9xJmgO63dUhP-2F-2BZ0gxwGSFvMWjvNbOVp2-2F0i26wQx3ndYJCQsNWDQ1-2FnGTHCLtc1GUNqqK5uzs8-2FCSh99HEPkRz2wB-2F3x5GDGkjjV8RY46wMxbV3WDXfeYDpIglI3QNIHfKQXMAPhC5cE75qJ-2BO3dv9XxekAomYtSuE09hri2ycvBzwofgRwDOYy6dd01PkuOVbmxM3yxBGF96X05zvuYO4KKLgN9XwhsDHJ0zm3hhy8-2F8hOQJOFyYxWeZDI5ESR4YlYhHzzvGqw-3D-3D" rel="nofollow" target="_blank">https://www.verkada.com/</a>.</p>
<p><b>About Verkada<br></b><a href="http://email.prnewswire.com/wf/click?upn=7VDqtAz2AW-2FeY7Xnbvsasd24eWiGD8Jh7HhliMwKgRk-3D_q1N77mbql2CxsoEfo2fFiZ6dnlev64IGUSa1KT1DDw1MuprZmQ6aap9NY9k0Le75tDI9rSheCr9xJmgO63dUhP-2F-2BZ0gxwGSFvMWjvNbOVp2-2F0i26wQx3ndYJCQsNWDQ1-2FnGTHCLtc1GUNqqK5uzs8-2FCSh99HEPkRz2wB-2F3x5GDGkjjV8RY46wMxbV3WDXfeYROUdBAlwMgAvwO5htxJs6T3W0CgDqwvETJJSg2kfPDyWrtIA2eDY2LkZ3V2cH4SrS-2B-2Fz8nXgoVdaro6D7F7KoDW-2BpKwpxF09vXSo5V4stBOV9D-2BYWTxXw9jQkVYcXJpZT6TuZ-2F5pJobPoL7eb0gLPQ-3D-3D" rel="nofollow" target="_blank">Verkada</a> makes enterprise physical security systems for the Internet of Things (IoT) era. Verkada's platform combines plug-and-play security cameras with intelligent, cloud-based software â all in a scalable, user-friendly system. Hundreds of organizations use Verkada to enhance physical security and gain new insights that improve the efficiency of their operations. The company was founded in 2016 by computer scientists and security experts from <span class="xn-org">Stanford University</span>, and <span class="xn-person">Hans Robertson</span>, the former COO and co-founder of Meraki. Verkada is headquartered in <span class="xn-location">San Mateo, California</span>.</p>
<p><b>About Next47<br></b>Next47 is a global venture firm created by Siemens that invests in, and partners with, entrepreneurs who think big and build industry-defining companies. With offices in <span class="xn-location">Boston</span>, <span class="xn-location">Beijing</span>, <span class="xn-location">London</span>, <span class="xn-location">Munich</span>, <span class="xn-location">Paris</span>, <span class="xn-location">Palo Alto</span> and <span class="xn-location">Stockholm</span>, Next47 gives start-ups unparalleled access to one of the world's largest portfolios of customers in the areas of industry, energy and infrastructure as well as domain expertise in the deep technologies that impact those customers.</p>
<p> </p>
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