Industrial equipment and appliance maker Siemens led a $15m series A round for Verkada, a US-based developer of connected video security technology, yesterday through its Next47 unit.
Venture capital firm First Round Capital and angel investors Hans Robertson and Héctor García-Molina also took part in the round, all three having invested in Verkada’s $3.9m seed round in September 2017.
Founded in 2016, Verkada produces smart security systems that combine video equipment with cloud-based software that allows users to access live surveillance and retained footage from any mobile device.
The company will put the funding into research and development for its computer vision and machine learning technology as well as the expansion of its sales team and manufacturing capacity. Its systems are used in the education, retail and hospitality sectors among others.
Lak Ananth, Next47’s managing partner and chief executive, said: “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.
“That is a category redefining combination in the market for physical security and advanced building systems.”
– Image courtesy of Verkada Inc.