Eagle Eye Networks raises series E funding from venture capital firm Accel to expand business around the world

Eagle Eye Networks, the pioneer in cloud video surveillance, has raised $40 million of Series E funding from venture capital firm Accel to continue its growth and expand its technology leadership. Eagle Eye is leveraging artificial intelligence (AI) on its true cloud platform to dramatically reshape video surveillance and improve safety, security, operations, and customer service for businesses around the world.

Video surveillance systems have multiple security features, such as motion detection and standard analytics. However, these systems require either monotonous monitoring or a meticulous manual review after each triggered event to extract useful information.

Cloud video surveillance

Similarly, business operations analytics are still in early development. “There is a tremendous opportunity to leverage AI and alter the very nature of video surveillance,” said Dean Drako, Founder and CEO of Eagle Eye Networks. “Eagle Eye Networks now has the means and the technology to enable cloud video surveillance to transform how companies manage security and business operations, in the same way self-driving/electric cars are transforming transportation.”

Smart cloud video surveillance with privacy and cybersecurity protections will make the world much safer"

“Ultimately, smart cloud video surveillance with appropriate privacy and cybersecurity protections will make the world much safer, for example: detecting dangers such as weapons, erratic driving, active robberies, and traffic accidents. Furthermore,” continued Drako, “It will help businesses provide better service by reducing wait lines, ensuring displays are organised and stores clean, and assuring product quality.”

Deploying new analytics

Sameer Gandhi, Partner at Accel added, “Eagle Eye Networks pioneered the video surveillance industry’s move to the cloud, and AI applications will drive the industry’s next transformation. Eagle Eye is in the pole position to make this happen. Its true cloud technology puts Eagle Eye in a unique position to instantly deploy new analytics breakthroughs. Dean Drako’s track record, proven with Eagle Eye and previously as founder of Barracuda Networks, speaks for itself.”

The Eagle Eye Cloud Video Management System (VMS) is a simply smarter cloud video surveillance solution, purpose-built to help businesses improve safety, security, operations, and customer service. Tens of thousands of companies in more than 90 countries around the globe have moved their video surveillance to the cloud with Eagle Eye VMS.

Comprehensive central management

Customers choose Eagle Eye Cloud VMS for its comprehensive central management, cloud reliability and redundancy

Customers, including multi-family residences, smart cities, schools, hospitals, hotels, logistics, restaurants, and retail shops trust Eagle Eye for actionable business intelligence and proactive security. Customers choose Eagle Eye Cloud VMS for its comprehensive central management, cloud reliability and redundancy, cost savings, and its open API video platform that provides a vast number of third-party integrations.

Customers appreciate Eagle Eye’s inherent cyber secure design and extensive video encryption to protect their data and privacy. The Eagle Eye Cloud VMS works with thousands of industry cameras and does not require customers to ‘rip and replace’ their existing infrastructure. Eagle Eye Networks, together with its partner Brivo, provide a seamless solution for cloud video surveillance and facility access control. Brivo is a pioneer in cloud facility access control.

Cloud video security

The Eagle Eye API allows for seamless integration with partners like Brivo and others making Eagle Eye Cloud VMS the only platform robust enough to power the future of video surveillance. Eagle Eye Networks has grown rapidly in EMEA both organically and through the 2017 acquisition of Camera Manager whose founders, Rishi Lodhia and Tijmen Vos launched the first true cloud video security offering in 2004 and continue to drive the company's European growth and innovative product development.

The Eagle Eye Networks European headquarters in Amsterdam, provides an attractive mix of elements crucial for success, including innovative technology founders who share Drako’s bold vision, drive and demonstrated leadership. “We were the first to introduce cloud video surveillance to the market and this step is fast tracking our growth in Europe, the Middle East and Africa,” said Rishi Lodhia, Eagle Eye Networks Managing Director for EMEA.

Video surveillance industry

The adoption of true cloud video surveillance and powerful AI is driving an acceleration of the business globally"

“The adoption of true cloud video surveillance and powerful AI is driving an acceleration of the business globally, but especially in EMEA. It gives us the ability to help give businesses the intelligence they need and protect people’s privacy without compromising safety and security.” The company expects to add roles across Europe to support the growth and customer success with the adoption of the cloud and AI powered video surveillance.

“In more than two decades in the video surveillance industry, I have heard people talk about revolutionising the market and taking it to the next level, but only Eagle Eye Networks has truly delivered on that promise,” added John E. Mack III, Executive Vice President, Co-Head of Investment Banking at Imperial Capital.

“While Eagle Eye Networks’ vision as the first cloud native solution was compelling previously, the changes 2020 brought about through business disruption related to COVID-19 make Eagle Eye’s products and services even more desirable. Eagle Eye’s focus on the customer and commitment to innovation create a foundation that makes its cloud and AI enhanced offerings for video surveillance a focus for security specific executives and the C-suite alike.”