International. Verkada announced a $205 million Series D funding round with new and existing venture partners. The round was led by Linse Capital, with participation from MSD Partners, L.P. and existing investors, including Felicis Ventures, Next47, Sequoia Capital, Meritech Capital and First Round Capital. Since its founding in 2016, Verkada has raised more than $360 million in funding and the latest round values the company at $3200 million.
Verkada explained that it will use the investment to fulfill its mission of building the operating system for the physical world, specifically by enhancing its existing offerings, developing new product lines, hiring across all functions, and continuing its geographic expansion.
Since its last fundraiser in January 2020, Verkada has quadrupled its number of clients and the size of its team, and has opened six new offices. In the last twelve months, Verkada increased its team by 68%, opened three new offices and nearly doubled total revenue year over year.
"We founded Verkada in 2016 with a vision to modernize the world of physical security, one of the latest industries to experience a migration of on-premises solutions to cloud-based software. We started with security cameras and an intuitive cloud-based platform, and in just six years, we've expanded to include five additional product lines that help businesses protect and manage their people and assets," said Filip Kaliszan, co-founder and CEO of Verkada. "This latest capital commitment is further validation from investors that we are well positioned to seize the opportunity ahead."
