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SECOM, one of the largest global security integration companies, has made a significant investment in Eagle Eye Networks and Brivo – both cloud-based physical security technology providers.
A primary equity investment of $192 million has been made in the two companies, with $100 million invested in Eagle Eye Networks and the remaining $92 million in Brivo.
Both independent companies are owned by Dean Drako. Eagle Eye Networks sits in the cloud-based video surveillance space, while Brivo provides cloud-based access control technology.
Commitment to cloud and AI in physical security
“The SECOM investment underscores that cloud and AI are the future of physical security,” said Drako.
“Both Eagle Eye and Brivo will use a significant portion of the investment to further develop AI that dramatically improves the security of enterprises and businesses globally. The Eagle Eye and Brivo open platforms provide customers with choice, efficiencies, and innovation, all of which this investment will accelerate.”
As independent, open platform companies, Eagle Eye Networks and Brivo integrate with many third-party technology providers, including property management and Proptech platforms. The companies’ joint capabilities deliver real-time AI-enabled video and access control events analysis, optimising safety and security.
Brivo will use the investment to grow sales and marketing, accelerate product development and scale support and operational functions, and evaluate strategic acquisitions. It will also use the additional investment to continue expanding in Europe, Latin America, and Asia Pacific, and enhance the smart spaces and AI functionality in the Brivo Access Platform for its enterprise, multifamily, and commercial real estate customers.
“SECOM has a proud history of innovation going back to Japan’s first online security system for commercial use in 1966,” said Sadahiro Sato, SECOM Managing Executive Officer. “We’re committed to delivering services and systems that deliver safety, peace of mind and business efficiency. Our investment in Eagle Eye Networks and Brivo, the market leaders in cloud physical security, is an investment in the mission our three companies share: to provide the best technology possible to keep businesses and communities safe.”
Eagle Eye to use investment to fund AI development, expansion and enterprise features
Eagle Eye Networks will use the investment for continued development of its AI-based analytics capabilities such as Eagle Eye Smart Video Search, Smart Alarms, and Vehicle Intelligence, and to expand its worldwide geographical operations.
Its investment in AI-based video surveillance gained additional traction in October 2021 when the business acquired Uncanny Vision, an AI specialist based in India. Advanced search capabilities and AI-based ANPR functionality were the first solutions to be delivered to its customers.
Since the funding confirmation the business has announced where it will primarily use its $100 million investment. Eagle Eye will fund R&D to support a product roadmap of AI-solutions including:
Worker safety monitoring
Smart anomaly detection
Natural language search
Business analysis
It will also expand its operations in Japan, Germany, Mexico, Argentina, Brazil, Southeast Asia and the Middle East. These are all regions where Eagle Eye says it is seeing dramatic growth as a result of large enterprise projects.
Meanwhile, the vendor will further invest in capabilities for multisite customers with large global camera deployments.
“Cloud and AI are revolutionising the video surveillance industry, so the time is right for us to supercharge our AI product development and worldwide expansion with this major investment from SECOM,” added Drako.
“The Eagle Eye Cloud VMS is built to deliver what business owners today are looking for: a powerful platform with native AI features, a robust open API, and extensive technology ecosystem that allows customers to leverage cloud video surveillance for their specific security and business needs.”
This article was originally published in May 2022. It has since been expanded to reflect ongoing updates to the story.
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SECOM makes $192 million investment in cloud physical security providers Eagle Eye and BrivoSECOM has made a significant investment in Eagle Eye Networks and Brivo - both cloud-based physical security technology providers.
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A primary equity investment of $192 million has been made in the two companies, with $100 million invested in Eagle Eye Networks and the remaining $92 million in Brivo.