Eagle Eye Networks to fund AI product development, geographic expansion, enterprise features with $100M investment
AUSTIN, Texas, June 7, 2023 — Eagle Eye Networks, the global leader in cloud video surveillance, today announced it will use a $100M primary equity investment from security giant SECOM, CO., LTD. to expand its suite of AI-powered products, 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 has won five international product awards to date. Smart Video Search is available to all existing and new Eagle Eye Cloud VMS (video management system) customers across the globe.
Previously released features include Smart Layouts, which alert security agents monitoring cameras and highlight activity. Eagle Eye also released Vehicle Surveillance Package and Eagle Eye LPR (License Plate Recognition).
Eagle Eye will fund R&D to support a product roadmap of next-generation AI-solutions including:
- Worker safety monitoring
- Smart anomaly detection
- Natural language search
- Business analysis
- and much more.
Eagle Eye will expand global operations in Japan, Germany, Mexico, Argentina, Brazil, Southeast Asia, and the Middle East — countries and regions where Eagle Eye is growing dramatically as a result of large enterprise projects using AI-powered cloud video surveillance.
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. “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.” The SECOM series F funding follows the series E funding from venture capital firm Accel in October 2020.
