Eagle Eye Networks and Brivo, two independent companies leading the charge in cloud video surveillance and cloud-based access control respectively, have announced a significant investment deal.
The companies have secured a hefty sum of $192m from SECOM, a titan in the world of security integration and a $15bn enterprise. Eagle Eye Networks is set to receive $100m, while Brivo will benefit from the remaining $92m.
Offering comprehensive services, Eagle Eye Networks excels in delivering cyber-secure, cloud-based video with artificial intelligence (AI) and analytics to enhance business efficiency and global safety. On the other hand, Brivo provides smart space technologies, primarily focusing on cloud-based access control.
The funding injection is intended to drive the development of AI technologies that promise to enhance the security of businesses and enterprises worldwide. The open platforms of Eagle Eye and Brivo aim to deliver greater choice, efficiency, and innovation, aspects that are poised to receive a considerable boost from this investment.
Furthermore, the companies integrate with numerous third-party technology providers, including leading property management and Proptech platforms. Their joint capabilities enable real-time, AI-enabled video and access control events analysis, optimising safety and security measures.
Eagle Eye Networks plans to use the investment for the continued development of its AI-based analytics capabilities, including Smart Video Search, Smart Alarms, and Vehicle Intelligence. Meanwhile, Brivo will use its share to boost sales and marketing, accelerate product development, scale support and operational functions, and explore strategic acquisitions.
In a statement on the deal, Eagle Eye Networks CEO 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.”
Drako, who is also the chairman of Brivo, founded Eagle Eye Networks in 2012 and acquired a majority stake in Brivo in 2015. Prior to the recent funding round, the companies were primarily owned by him.
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