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Verkada Nabs $3.9M Seed Round

2017-09-21
SAN MATEO, CA, Verkada, an enterprise physical security company, raised $3.9 million in seed funding.
Verkada, an enterprise physical security company, today announced the immediate availability of its camera system for purchase. This product launch is the culmination of nearly two years of development, and is the company's first public step toward fulfilling its mission of modernizing enterprise security technology.

The company has two models of the Verkada Connected Video Security system now available: the D30 camera for indoor use, and the D50 for outdoor use. Both products combine industrial-grade hardware with Verkada's innovative software to create a surveillance system with intelligent capabilities and full encryption for enterprise-grade data protection.

The software actively monitors system health and can send automated alerts if a camera goes offline or is tampered with. Command, Verkada's secure web application, enables authorized users to access and manage their system on a desktop, tablet, or mobile device. The company provides automated updates to web software and firmware, ensuring all cameras have the latest protections against threats to data security, with patches rolled out in as little as 24 hours. Verkada reduces complexity and lowers operating costs by eliminating the need for local servers, firewall equipment, and on-premise storage devices such as network video recorders (NVRs). The system scales easily to support hundreds of cameras across many locations.

Other features include:

-Activity-based search, allowing users to quickly search through hours of footage based on when activity was detected in the frame
-Fully encrypted video data during storage and transmission
-On-camera, solid-state storage able to hold 30 days of continuous recording
-Designed for low-bandwidth situations, including LTE connections
-Strong user access controls, including two-factor authentication
-Controlled live-feed sharing via SMS and email

"Consumers have been able to purchase modern home security cameras for years, while enterprise systems have remained outdated and stuck in the past," said Verkada CEO and co-founder Filip Kaliszan. "We wanted to build a smart, secure and scalable video security system for businesses, with the built-in capacity to incorporate technologies like facial recognition in the future."

Verkada was founded in 2016 by Kaliszan, Benjamin Bercovitz (CTO) and James Ren (Principal Software Architect), who were previously founders at CourseRank (acquired by Chegg). Hans Robertson, formerly COO of Meraki (acquired by Cisco), serves as Verkada's Executive Chairman. The company is headquartered in San Mateo, California.

Along with the product launch, Verkada is also announcing a $3.9 million seed funding round led by First Round Capital with participation from several angel investors, including Stanford professor Hector Garcia-Molina. In addition to supporting general availability for the D30 and D50, the company will use these funds to continue growing their team across engineering, sales and customer support roles.

"We're excited to support Verkada and the enormous market opportunity that they are addressing," said Bill Trenchard, Partner at First Round Capital. "Verkada is reimagining enterprise physical security for the 21st century, with the goal of making businesses and employees safer."

For more details on the Verkada Connected Video Security system, and to sign up for a free trial, please visit www.verkada.com.

Press Contact:
Stephanie Donily
The Bulleit Group
verkada@bulleitgroup.com

About Verkada
Verkada builds enterprise video security systems that combine cutting-edge camera technology with intelligent, web-based software -- all in a secure, user-friendly solution. Unlike existing systems, Verkada's technology eliminates outdated equipment such as network video recorders (NVRs) and offers the protection of full encryption with no special configuration required. Verkada systems are easy to install, update and expand. Founded in 2016 by computer scientists and information security experts from Stanford University and MIT, Verkada is headquartered in San Mateo, California.
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