Eagle Eye Networks and Brivo have announced one of the largest investments to date in cloud physical security as SECOM CO., LTD has made a primary equity investment of $192 million in the two companies – $100M in Eagle Eye Networks and $92M in Brivo.
Eagle Eye Networks and Brivo are independent companies majority owned by Dean Drako. Drako founded Eagle Eye Networks in 2012 and serves as CEO; he acquired a majority stake in Brivo in 2015 and is chairman.
“The SECOM investment underscores that cloud and AI are the future of physical security,” said Drako. “Both Eagle Eye and Brivo will use a significant portion of the investment to further develop AI that dramatically improves the security of enterprises and businesses globally.
“The Eagle Eye and Brivo open platforms provide customers with choice, efficiencies, and innovation, all of which this investment will accelerate.”
As independent, open platform companies, Eagle Eye Networks and Brivo integrate with many third-party technology providers, including the Proptech platforms.
In addition, Eagle Eye and Brivo provide a fully integrated solution that global businesses use to manage risk, identify threats, and respond. The companies’ joint capabilities deliver real-time AI-enabled video and access control events analysis, optimising safety and security.
Eagle Eye Networks will use the investment for continued development of its AI-based analytics capabilities such as Eagle Eye Smart Video Search, Smart Alarms, and Vehicle Intelligence, and to expand its worldwide operations.
Brivo will use the investment to grow sales and marketing, accelerate product development and scale support and operational functions, and evaluate strategic acquisitions.
Brivo will also use the additional investment to continue expanding in Europe, Latin America, and Asia Pacific, and enhance the smart spaces and AI functionality in the Brivo Access Platform for its enterprise, multifamily, and commercial real estate customers.
“SECOM has a proud history of innovation going back to Japan’s first online security system for commercial use in 1966,” said Sadahiro Sato, SECOM Managing Executive Officer. “We’re committed to delivering services and systems that deliver safety, peace of mind and business efficiency.
“Our investment in Eagle Eye Networks and Brivo, the market leaders in cloud physical security, is an investment in the mission our three companies share: to provide the best technology possible to keep businesses and communities safe.”