Total amount raised
$644.3 Millions
Latest funding date
Location
Verkada has successfully raised significant funding through multiple rounds, including a Series E. The company specializes in cloud-based physical security solutions, offering a range of products from video security cameras to environmental sensors.
Keep reading to explore the intricacies of Verkada's fundraising journey and the investors backing this innovative platform.
What Is Verkada?
Verkada, founded in 2016, is based in San Mateo, California. The company was established by Benjamin Bercovitz, Filip Kaliszan, Hans Robertson, and James Ren.
Specializing in cloud-based physical security solutions, Verkada offers a range of products including video security cameras, access control, environmental sensors, alarms, workplace software, and intercoms.
With a workforce of 1001-5000 employees, Verkada continues to innovate in the security industry, providing integrated solutions for modern enterprises.
How Much Funding Has Verkada Raised?
- Seed Round
- Amount Raised: $3.9M
- Date: September 2017
- Lead Investors: First Round Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial product offerings and establish a market presence.
- Series A
- Amount Raised: $15M
- Date: April 2018
- Lead Investors: Next47
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand the product line.
- Series B
- Amount Raised: $40M
- Date: April 2019
- Lead Investors: Meritech Capital Partners, Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and increase market penetration.
- Series C
- Amount Raised: $80M
- Date: January 2020
- Lead Investors: Felicis
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and expand into new markets.
- Series D
- Amount Raised: $205M
- Date: September 2022
- Lead Investors: Linse Capital
- Valuation at Round: $3.2 billion
- Motivation Behind the Round: To enhance existing offerings, develop new product lines, and continue geographic expansion.
- Series D
- Amount Raised: $100M
- Date: October 2023
- Lead Investors: Alkeon Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further product development and expand market reach.
- Series E
- Amount Raised: $200M
- Date: February 2025
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and innovation in cloud-based security solutions.
Total Amount Raised: $643.9M
Current Valuation: $3.2 billion
Key Investors
- General Catalyst
- Details: General Catalyst is a venture capital firm that provides early-stage and growth equity investments. They have a strong track record of supporting innovative companies.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Airbnb, Stripe, Snap Inc.
- Linse Capital
- Details: Linse Capital is a growth equity firm that partners with entrepreneurs in the energy, mobility, and logistics sectors. They manage $1.9 billion in assets.
- Investment Focus Areas: Energy, mobility, logistics.
- Notable Investments: ChargePoint, Redaptive, Skydio.
- Alkeon Capital
- Details: Alkeon Capital is a global investment firm that focuses on long-term growth opportunities. They invest in both public and private markets.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Spotify, Pinterest, Stripe.
- Felicis Ventures
- Details: Felicis Ventures is a venture capital firm that invests in early-stage technology companies. They have a diverse portfolio across various sectors.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Not publicly disclosed.
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm known for its investments in early and growth-stage companies. They have a significant impact on the tech industry.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Apple, Google, WhatsApp.
What's Next for Verkada?
Verkada stands at the cusp of a significant opportunity, with a $100 billion addressable market in cloud-based physical security solutions. The company aims to enhance its existing product lines, develop new ones, and expand geographically. This growth trajectory is supported by the increasing migration from on-premise solutions to cloud-based software, a trend that aligns perfectly with Verkada's offerings.
Future fundraising opportunities seem promising, given the company's strong market potential and recent $205 million Series D round. This capital will likely fuel further innovation and expansion, positioning Verkada to capture a larger market share. However, challenges such as navigating a broader market environment and maintaining rapid growth while ensuring product quality and customer satisfaction remain. Ensuring privacy and security in their cloud-based solutions will also be crucial as they scale.
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