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2w ago

Verkada Raises CapitalG-Led Round, Valuation Climbs to $5.8 Billion

Verkada reports more than $1 billion in annualized bookings across 30,000 customers.

Figurines with computers and smartphones are seen in front of the words "Artificial Intelligence AI" in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
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Overview

  • CapitalG led the investment, which CNBC reported totaled about $100 million, lifting Verkada’s valuation by roughly $1.3 billion since February.
  • The company said the new capital will bolster its artificial intelligence capabilities and provide liquidity to stakeholders.
  • Verkada sells a cloud-based platform that unifies security cameras, access control, sensors, and alarms for enterprises, schools, hospitals, and public-sector sites.
  • In September, the company rolled out over 60 new AI features, including an AI-Powered Unified Timeline that compiles footage from multiple cameras into a single view.
  • CapitalG highlighted data throughput of more than 20 million images per hour and a legacy-heavy physical security market near $60 billion, while Verkada’s CEO said AI will augment rather than replace human guards.