SAN MATEO / LONDON (IT BOLTWISE) – Verkada Inc., a leader in enterprise security, has closed a new round of financing that values the company at $5.8 billion. The investment, led by CapitalG, an Alphabet Inc. fund, is intended to accelerate the development of new AI capabilities and strengthen Verkada’s market position.
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Verkada Inc., a security solutions company, recently closed a significant round of financing that values the company at $5.8 billion. This investment, led by CapitalG, an Alphabet Inc. fund, is intended to support the development of new AI capabilities and further strengthen Verkada’s market position. Although the exact amount of funding has not been officially announced, CNBC reported that it is $100 million.
Verkada offers a wide range of security devices to help companies prevent unauthorized access to their facilities. The product portfolio includes smart locks, cameras, alarm systems and supporting equipment such as battery packs. Over two million Verkada devices are already in use worldwide, underscoring the importance and trust in the company’s solutions.
A special feature of Verkada devices is their simplified installation, especially in outdoor areas where wiring is often a challenge. Verkada offers so-called gateways that reduce the amount of cabling and thus speed up installation. These gateways can be customized with optional accessories, such as a module that draws power from a streetlight port or an LTE antenna to improve connection quality.
The devices are managed via the Command software platform, which is equipped with an AI search engine that understands natural language commands. Users can tell Command to search video streams for specific objects or retrieve recordings from a specific location and time period. In addition, the platform offers other AI functions, such as analyzing sensor data to detect suspicious activity, which can automatically trigger an alarm.
Another focus of Verkada is air quality monitoring. The company sells sensor modules that can detect allergens, toxic mold and dust. These devices also monitor other environmental parameters such as average temperature. With its latest round of funding, Verkada announced that it recently reached $1 billion in annualized bookings, a measure of future revenue. The installed base includes more than 30,000 organizations worldwide.
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