Security Systems Startup Verkada Hits $4.5B Valuation After Series E

Verkada, a developer of security systems for the real world, locked up a $200 million Series E led by General Catalyst that values the San Mateo, California-based firm at $4.5 billion.

The round included what the company called a “significant investment” from Eclipse Ventures and additional participation from new and existing investors. Founded in 2016, Verkada says it has raised more than $700 million in funding.

The company last raised in October 2023, closing a large $100 million round led by Alkeon Capital.

While the focus is often on things such as network or application security, the physical world still needs securing. Verkada offers a plethora of products that include video security cameras, door-based access control, environmental sensors and more, and has recently added artificial intelligence into its security products.

“Today, more than 1.5 million Verkada devices are online protecting people and places across the globe, and we have an incredible opportunity ahead as we continue to rapidly increase our market share and deliver category-defining solutions to our more than 30,000 customers,” said co-founder and CEO Filip Kaliszan.

Security upswing

Verkada is just the latest security startup to raise big this month.

Dublin-based Tines, a no-code workflow automation platform designed especially for security teams, raised a $125 million Series C last week, while application security startup Semgrep and Israel-based infrastructure security startup Dream Security both raised $100 million rounds.

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Illustration: Dom Guzman