Accel, a venture capitalist firm that has previously invested in the likes of Facebook, Slack, Dropbox and Spotify is helping Eagle Eye Networks continue its growth in cloud video surveillance after a $40 million investment.
The funding is set to enable Eagle Eye to leverage artificial intelligence (AI) on its cloud platform, in a move which the company believes will “dramatically reshape video surveillance and improve security, operations, and customer service for businesses around the world”.
“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.
“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 organized and stores clean, and assuring product quality.”
Today’s video surveillance systems have multiple security features, such as motion detection and standard analytics. However, Eagle Eye explains, 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.
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 smart 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. 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.
Rishi Lodhia, Managing Director, Eagle Eye Networks EMEA
The company highlights that customers choose its 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. Inherent cyber secure design and extensive video encryption to protect data and privacy is a key feature, while the VMS works thousands of industry cameras and does not require customers to “rip and replace” their existing infrastructure.
Eagle Eye’s partner, Brivo, is also a leader in cloud facility access control, and the Eagle Eye API allows for seamless integration with partners like Brivo and others.
Eagle Eye Networks has grown rapidly in EMEA both organically and through the 2017 acquisition of CameraManager founded by Rishi Lodhia and Tijmen Vos.
“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, now Eagle Eye Networks Managing Director for EMEA. “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.
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