The Power of the Cloud — Major U.S. Security Players Raise $192M for Cloud Security

When it comes to physical security, the cloud is everywhere.

That was more apparent than ever when news came out this month that two companies — Eagle Eye Networks and Brivo — major U.S.-based physical security players, have jointly raised $192 million in equity funding for cloud-based programs.

TechCrunch reports that the businesses, which includes access control and video surveillance systems among their offerings, raised the funds by way of Japanese security company SECOM, which served as the single investor. The tech website reports that $100 million is allocated to Eagle Eye, with the remaining $92 million heading over to Brivo. Both companies are majority owned by Dean Drako.

Drako told TechCrunch that this funding will be used for R&D for artificial intelligence (AI) systems that will be incorporated into the companies’ systems. Currently, about 20 million people use Brivo’s services, while Eagle Eye has roughly 20,000 to 30,000 customers. The impact that this investment will have is huge when it comes to implementing cloud technology across the board.

“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. “We are projected to grow 15% annually for the next several years.”

The news points to the reality that no modern physical security operation can exist without an embrace of the cloud. In his interview, Drako explained that forensic search capabilities, for example, are already part of Eagle Eye’s products. The goal now is to move toward greater atomization.

“We will watch the cameras for you…Smoke, fire, people running around doing things they shouldn’t be doing,” he said.

The funding also provides an opportunity for increased international expansion for these companies. In a piece published by Maryland’s The Daily Record, it was revealed that Brivo will apply this infusion of funding to not only increase marketing and sales capabilities, but also continue expansion into Latin America, the Asian Pacific region, and Europe.

The investment will also help the company “enhance the smart spaces and AI functionality in the Brivo Access Platform,” the newspaper reports.

While this news applies to these specific companies, it speaks to a broader reality that cloud computing is allowing physical security to scale beyond its past reach. This also reaches the customers of these services. Companies large and small that have these security systems are now improving functionality, efficiency, and offering more foolproof protection by harnessing the cloud.