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Thursday, July 18, 2024

Accel’s $40 Million Funding Helps Eagle Eye Networks Develop Cloud and AI Video Surveillance

Video surveillance specialist, Eagle Eye Networks, has raised $40 million of Series E funding from venture capital firm Accel to continue its growth.

Today’s video surveillance systems have multiple security features, such as motion detection and standard analytics. However, these systems require either monotonous monitoring or a meticulous manual review after each triggered event to extract useful information. Similarly, business operations analytics are still in early development.

Eagle Eye is leveraging artificial intelligence (AI) on its true cloud platform to reshape video surveillance and improve safety, security, operations, and customer service. 

“There is a tremendous opportunity to leverage AI and alter the very nature of video surveillance,” said Dean Drako, Founder and CEO of Eagle Eye Networks. “Eagle Eye Networks now has the means and the technology to enable cloud video surveillance to transform how companies manage security and business operations, in the same way self-driving and electric cars are transforming transportation.

Drako says smart cloud video surveillance with appropriate privacy and cybersecurity protections will make business and communities much safer, for example: by detecting dangers such as weapons, erratic driving, active robberies, and traffic accidents. 

The Eagle Eye Cloud Video Management System (VMS) is a smart cloud video surveillance solution, purpose-built to help businesses improve safety, security, operations, and customer service while saving money. Customers include multi-family residences, smart cities, schools, hospitals, hotels, logistics, restaurants, and retail.

The system includes an open API video platform that provides numerous third-party integrations. It has been designed to work with thousands of industry cameras and does not require customers to replace their existing infrastructure. The Eagle Eye API allows for integration with partners like Brivo and others.

John E. Mack III, Executive Vice President, Co-Head of Investment Banking at Imperial Capital said people have often spoken about revolutionizing the video surveillance industry, “but only Eagle Eye Networks has delivered”.

Read more at Eagle Eye Networks

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