Global cloud security providers confirm multi-million dollar investment
James Thorpe
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Two major brands in the security industry have received one of the largest ever cloud physical security investments to date.
Cloud video surveillance provider, Eagle Eye Networks, and cloud-based access control company, Brivo, have received a primary equity investment of $192m from the security integration company, SECOM.
Eagle Eye Networks will receive $100m of this investment, with the other $92m strengthening Brivo.
Growth and expansion for Eagle Eye Networks and Brivo
Eagle Eye Networks will be directing funds from the investment towards enhancing its AI-based analytics capabilities – the company aims to leverage this funding to drive continuous development in this area.
Brivo intends to utilise the investment to fuel its sales and marketing efforts, accelerate product development and expand its support and operational functions. Additionally, Brivo will explore strategic acquisitions as part of its growth strategy.
Brivo also plans to utilise the additional investment to continue expanding its presence in Europe, Latin America and Asia Pacific regions. This expansion will be accompanied by an emphasis on enhancing smart spaces and AI functionality within the Brivo Access Platform.
“SECOM has a proud history of innovation, going back to Japan’s first online security system for commercial use in 1966,” commented Sadahiro Sato, Managing Executive Officer, SECOM. “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.”
Open platforms provide “choice” and “innovation”
Dean Drako, Founder and CEO, Eagle Eye Networks commented: “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 customers with choice, efficiencies and innovation, all of which this investment will accelerate.”
