Eagle Eye Networks, the cloud video surveillance firm and Brivo, the cloud-based access control and smart space tech provider, announced one of the largest investments to date in cloud physical security. SECOM CO., LTD, one of the largest security integration companies in the world, according to Forbes Global 2000, has made a primary equity investment of $192 million in the two companies, $100 million in Eagle Eye Networks and $92 million in Brivo.
Eagle Eye Networks and Brivo are majority owned by Dean Drako. Drako founded Eagle Eye Networks in 2012 and is CEO; he acquired a majority stake in Brivo in 2015 and is chairman.
What does the funding mean for Eagle Eye and Brivo?
As independent, open platform firms, Eagle Eye Networks and Brivo integrate with many third-party tech providers, including top property management and Proptech platforms.
In addition, Eagle Eye and Brivo also provide a fully integrated solution that global businesses use to manage risk, identify threats, and respond. The companies’ joint capabilities deliver real-time AI-enabled video and access control events analysis, optimizing safety and security.
Eagle Eye Networks will use the fund for development of its AI-based analytics capabilities like Eagle Eye Smart Video Search, Smart Alarms, and Vehicle Intelligence, and to expand its global operations. Brivo will use the fund to grow sales and marketing, accelerate product development and scale support and operational functions, and evaluate strategic acquisitions.
Brivo 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.
What does this mean for the industry?
“SECOM has a proud history of innovation going back to Japan’s first online security system for commercial use in 1966,” commented 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,” Sato further said.
Commenting on the funding, Dean Drako said, “The SECOM investment underscores that cloud and AI are the future of physical security. 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 clients with choice, efficiencies, and innovation, all of which this investment will accelerate.”