There is nothing like the sense of security…
Verkada is a cloud-based enterprise video security company that joined the Prime Unicorn Index in the quarterly reconstitution. The most recent $80 million raise for Series C valued the company at $1.46 billion; andfollows $50 million raised for Series B just 9 months prior. The terms surrounding the Series C include a pari passu liquidation preference with all other preferred, and conventional convertible meaning they will not participate with common stock if there are remaining proceeds. The most recent price per share is $12.978005, an up round from Series B at $4.66328.
Since launching commercially two years ago, Verkada has become the enterprise video security provider for over 2,500 organizations, including twenty-five global Fortune 500 companies. In the past year, the company:
- Tripled revenue, with existing customers making up half of the purchases.
- Opened its first international office in London.
- Grew headcount by 3x to 300, with plans to reach 800 by the end of 2020.
- Expanded its global channel partner program to over 1,100 resellers.
- Launched nine new camera models and several key features like People & Vehicle Analytics.
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