Eagle Eye Networks Earmarks $100M SECOM Investment for AI Product Development, Geographic Expansion, Enterprise Features
Cloud video surveillance pioneer to supercharge its next-generation AI products, including Smart Video Search and Smart Alarms.
AUSTIN, Texas — Cloud video surveillance pioneer Eagle Eye Networks will use a $100 million primary equity investment from security giant SECOM, Co., Ltd. to expand its AI-powered products suite, fund geographic expansion and enhance its enterprise features.
Eagle Eye Networks has made significant advancements in AI technology with the introduction of Eagle Eye Smart Video Search, which is available to all existing and new Eagle Eye Cloud VMS (video management system) customers around the world.
Previously released features include Smart Layouts, which alert security agents monitoring cameras and highlight activity, as well as the Vehicle Surveillance Package and Eagle Eye LPR (License Plate Recognition).
With the $100 million from SECOM, Eagle Eye will fund research and development to support a product roadmap of next-generation AI-solutions including, worker safety monitoring, smart anomaly detection, natural language search, business analysis and more.
The company will also expand global operations in Japan, Germany, Mexico, Argentina, Brazil, Southeast Asia, and the Middle East — countries and regions where Eagle Eye is growing as a result of large enterprise projects using AI-powered cloud video surveillance.
How Eagle Eye Will Invest SECOM’s $100M
Eagle Eye will further invest in product capabilities designed for multisite customers with large global camera deployments. Products and features are continually added to the Eagle Eye Cloud VMS, which is available in Enterprise and Professional Editions.
“Cloud and AI are revolutionizing the video surveillance industry, so the time is right for us to supercharge our AI product development and worldwide expansion with this major investment from SECOM,” said Dean Drako, Founder and CEO of Eagle Eye Networks, in the company announcement.
“The Eagle Eye Cloud VMS is built to deliver what business owners today are looking for: a powerful platform with native AI features, a robust open API, and extensive technology ecosystem that allows customers to leverage cloud video surveillance for their specific security and business needs,” he said.
The SECOM series F funding follows the series E funding from venture capital firm Accel in October 2020.
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