“Build smarter, safer spaces”

Founded: 2016 San Mateo, California, USA

Category: Cybersecurity

Primary office: San Mateo, CA (USA)

Core technical team: San Mateo, CA (USA)

Status: Private

Employees: 300+ (target of 800 by end of 2020)

Amount raised: $138.9 million  (6 rounds – January 2020)

OVERVIEW

  • Cloud-based video surveillance platform offering activity indexing, access control, and tamper detection solutions
  • Leverages software to drive innovation, Verkada is redefining the industry of enterprise physical security

 

PERFORMANCE METRICS

  • Valuation – $1.6 billion (2020)
  • Revenue – Not available

 

ACHIEVEMENTS

  • 2,500 clients including 25 Fortune 500 companies
  • Tripled revenue from 2018 to 2019

Sells

  • Cameras that operate on easy-to-use cloud software (access wherever and whenever) supporting
    • incident resolution
    • management
    • video analytics
    • security
    • camera control
  • VX51 viewing station – mission critical real-time viewing
  • Access control – combines real-time video analytics with access-based events

Channels

  • Partner program – Resellers, installers and integrators – sell exclusively through channel partners
  • Verkada website

Competencies

  • Machine vision
  • Cloud computing
  • Data security
  • Apply artificial intelligence to detect suspicious situations
  • Data analytics

Resources

Assets

  • Remotely accessible platform of camera data (saved locally)
  • Images encrypted
  • Machine learning/vision to focus review of images (say on a person of interest)
  • Artificial intelligence/machine learning to identify anomalous situations
  • Numerous camera models
  • AWS cloud underneath Verkada services

Processes

  • Implement machine vision and use the cloud to scale
  • Maintain data security and train cameras to take clearer pictures when artificial intelligence detects suspicious situations
  • Built in security features such as two factor authorization
  • Scalable processes (cloud based)
  • Summary: Instant video integration and insights; limitless scalability across buildings; cloud-based software and management; and secure mobile, remote, and card access
  • Secure by default – product is secure out of the box, featuring end-to-end data encryption
  • Uses industry security standards

Priorities

  • Unify security cameras and door locks (two factor authentication) to increase security and provide new insights to organizations as to use of space

Assertions That Best Describe What the Company Did to Scale Early, Rapidly & Securely

  1. Develop and sell products that address a problem, job to be done or a need that is widespread, growing, important, urgent, and manifests itself in diverse ways
  2. Use scientific and technological advances to develop innovative offers
  3. Combine company resources with those of other resource owners to create value that cannot be created by your company alone
  4. Strengthen cybersecurity attributes of offers compared to competitors
  5. Apply processes that continuously improve the cybersecurity of the company as well as its offers, channels and resources
  6. Operate a platform that is simple to use, attracts a very large market, and enables the company to control the quality of the offers traded on the platform
  7. Apply digital technology to brand, market, sell and service customers more cost effectively than competitors
  8. Enhance cybersecurity automation by using big data, machine learning and artificial intelligence
  9. Seek partners to accelerate scaling, expand company offers, and provide access to new revenue sources
  10. Ensure offers are scalable and meet rigorous reliability metrics