Eagle Eye Networks Raises $40 Million to Transform Video Surveillance by Combining Cloud and AI

(BUSINESS WIRE)-- Eagle Eye Networks, the global leader in cloud video surveillance, has raised $40 million of Series E funding from venture capital firm Accel (Facebook, Spotify, DocuSign) 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.

Today’s 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. 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 and electric cars are transforming transportation.

“Ultimately, smart cloud video surveillance with appropriate privacy and cybersecurity protections will make business and communities much safer, for example: detecting dangers such as weapons, erratic driving, active robberies, and traffic accidents. Furthermore,” continued Drako, “businesses will analyze their customer service and retail operations to provide a significantly better customer experience, and manufacturers will provide higher quality products, in a safer and more timely manner with video AI.”

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.”

Eagle Eye Networks Cloud VMS

The Eagle Eye Cloud Video Management System (VMS) is a smart cloud video surveillance solution, purpose-built to help businesses improve safety, security, operations, and customer service while saving money. 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. 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.

Eagle Eye Cloud VMS offers comprehensive central management, cloud reliability and redundancy, cost savings, and an 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 the worldwide leader in cloud facility access control. 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.

“In more than two decades in the video surveillance industry, I have heard people talk about revolutionizing 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.”

ABOUT EAGLE EYE NETWORKS

Founded in 2012, Eagle Eye Networks, Inc., is #1 in cloud video surveillance worldwide, addressing the needs of businesses, alarm companies, security integrators, cities, and individuals. Eagle Eye’s 100% cloud managed solutions provide cloud and on-premise recording, bank-level security and encryption, and broad analog and digital camera support – all accessed via the web or mobile applications. Businesses of all sizes and types utilize Eagle Eye solutions for operational optimization and security. All Eagle Eye products benefit from Eagle Eye’s developer friendly RESTful API platform and Big Data Video Framework ™, which allow for indexing, search, retrieval, and analysis of live and archived video. Eagle Eye’s open Video API has been widely adopted for integration in alarm monitoring, third party analytics, security dashboards, and point of sale system integrations.

Eagle Eye sells its products through authorized global resellers and installation partners. Headquartered in Austin, Texas, USA, Eagle Eye has offices in Europe and Asia-Pacific. For more information, please visit www.een.com or call +1-512-473-0500 (US), +31 (0) 20 26 10 460 (EMEA) or +81-3-6868-5527 (JP).

ABOUT ACCEL

Accel is a global venture capital firm that is the first partner to exceptional teams everywhere, from inception through all phases of private company growth. Atlassian, Braintree, Cloudera, Crowdstrike, DJI, DocuSign, Dropbox, Etsy, Facebook, Flipkart, Freshworks, Jet, Pillpack, Qualtrics, Slack, Spotify, Supercell, Tenable, UiPath, and Venmo are among the companies Accel has backed over the past 35+ years. We help ambitious entrepreneurs build iconic global businesses. For more, visit www.accel.com or www.twitter.com/accel.

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