"A lot of investors have woken up to the opportunity for the cloud conversion and the application of AI in the physical security market," Drako said in an interview, citing data from research firm Omdia, which in 2021 forecast cloud-based solutions, called Physical Security as a Service, would grow between 19% and 21% year on year between 20. He also has an eponymous electric car company. He has a fairly storied history as an entrepreneur beyond that: He was also one of the co-founders and the former CEO of IT security company Barracuda, which most recently ( in 2022) was acquired by KKR in a $3.8 billion deal. Drako - who is the founder and CEO of Eagle Eye, is also the chairman of Brivo, which he acquired for just $50 million in 2015 after it passed through a series of other ownership structures. The funding is being made "majorly at an up-round," Drako said, but he would not elaborate on the exact figures. Eagle Eye works with some 20,000-30,000 customers - large enterprises and other big organizations - while Brivo has in aggregate some 20 million people using its access control services. Both companies plan to use the funds for R&D, and specifically to build more AI-based technology into their respective platforms. companies - majority owned by the same individual, security entrepreneur Dean Drako - are today announcing that they have raised a large, joint round of equity funding, $192 million from a single, strategic investor: Japanese security services giant SECOM.ĭrako told TechCrunch in an interview that $100 million of the funding will be going to Eagle Eye and $92 million will be allocated to Brivo. Eagle Eye Networks and Brivo, two players in the world of physical cloud security - respectively video surveillance and access control systems to secure buildings and other physical spaces - are doubling down on their businesses.
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