Pioneer in cloud-based physical security technology, Verkada, today announced a $200 million Series E funding round. The round was led by General Catalyst, with significant investment from Eclipse and additional participation from new and existing investors. Since its founding in 2016, Verkada has raised more than $700 million in funding, and the latest round values the company at $4.5 billion.

Designed with simplicity in mind, Verkada's six product lines provide unparalleled building security through an integrated, cloud-based software platform.

With Verkada's AI-powered search, customers can use everyday language to search their video security camera footage for people and vehicles.

Verkada Access Control customers can bring employee badges into Apple Wallet, making it even more convenient for building administrators to securely manage access for corporate spaces.

Designed with simplicity in mind, Verkada's six product lines — video security cameras, door-based access control, environmental sensors, alarms, workplace, and intercoms — provide unparalleled visibility through a natively integrated cloud-based software platform.

Machine learning and applied computer vision have been core to Verkada's offering from the beginning, and it recently expanded AI-powered capabilities with category-defining natural language search and alerting features. These visual intelligence offerings not only make investigations more intuitive and efficient than ever before, but they also enable Verkada's customers to address industry-specific operational concerns – from manufacturers managing workplace safety and compliance to retailers combatting fraudulent returns. The company will leverage this new capital to further infuse AI into its security and safety solutions, and more broadly enhance and expand its cloud-based physical security platform.

Verkada has incredible momentum in the market, with its customer base growing 111% since its last fundraise in September 2022. Today, more than 91 companies in the Fortune 500 trust Verkada as their physical security layer, and more than 70% of Verkada's large customers leverage two or more of its products. This strong customer demand has driven Verkada's revenue up 95% in the same time period.

"Today, more than 1.5 million Verkada devices are online protecting people and places across the globe, and we have an incredible opportunity ahead as we continue to rapidly increase our market share and deliver category-defining solutions to our more than 30,000 customers," said Filip Kaliszan, Co-Founder and CEO of Verkada. "This latest commitment of capital reinforces the critical transformation that Verkada is driving in the market as applied AI fundamentally changes the ways that organizations keep people safe and drive business efficiency."

"Verkada's ability to integrate AI into real-world applications like video security, predictive maintenance, and environmental monitoring, has allowed their customers to interact with their security systems in intuitive, transformative ways," said Deep Nishar, Managing Director, General Catalyst. "The business potential is enormous—whether it's protecting schools, hospitals, retailers, or manufacturing facilities, Verkada's combination of cloud-native software and integrated hardware we believe positions the company well to scale and reshape how we think about safety and security on a global scale."

Eclipse partner Aidan Madigan-Curtis, whose firm invests in cutting-edge technology to bridge digital and physical worlds, said aging security systems simply do not meet the needs of the modern world.

"Safety is increasingly on the minds of parents, audiences, consumers, and others in public and private arenas, but our infrastructure is severely lacking in secure, modern systems for threat detection, access control, and emergency alerting," says Madigan-Curtis. "This is a pivotal moment in time to combine the best in computer vision, advanced hardware, and AI to serve all citizens and their families. Eclipse is proud to partner with the Verkada team in order to continue to amplify the company's scale and global reach."

For more information on Verkada's products and the impact they are delivering to customers today, visit www.verkada.com. 

About Verkada
Designed with simplicity in mind, Verkada's six product lines — video security cameras, access control, environmental sensors, alarms, workplace, and intercoms — provide unparalleled building security through an integrated, cloud-based software platform. Over 30,000 organizations across 93 countries worldwide, including 91 of the Fortune 500, trust Verkada as their physical security layer for easier management, intelligent control, and scalable deployments. For more information, please visit www.verkada.com.

About General Catalyst
General Catalyst is a global investment and transformation company that partners with the world's most ambitious entrepreneurs to drive resilience and applied AI. We support founders with a long-term view who challenge the status quo, partnering with them from seed to growth stage and beyond. With offices in San Francisco, New York City, Boston, Berlin, Bangalore, and London, we have supported the growth of 800+ businesses, including Airbnb, Anduril, Applied Intuition, Commure, Glean, Guild, Gusto, Helsing, Hubspot, Kayak, Livongo, Mistral, Ramp, Samsara, Snap, Stripe, Sword, and Zepto.

About Eclipse Ventures
With ~$5 billion in assets under management and a team of investors with deep operating expertise in technology, manufacturing, supply chain, logistics, healthcare, and consumer products, Eclipse is a leading U.S. venture capital firm. Its leadership team has the experience necessary to create and scale complex operations. Eclipse partners with exceptional companies that make physical industries more efficient, resilient, and profitable. For more information, visit www.eclipse.vc. 

SOURCE Verkada