Eagle Eye uses $100M to fund AI product development, expansion, and more

AUSTIN, Texas – Eagle Eye Networks (EEN) has announced that it will use a recently acquired $100 million equity investment from SECOM to expand its suite of AI-powered products, fund geographic expansion and enhance its enterprise features.

The announcement comes nearly a month after Japan-based security integration company SECOM CO., LTD, made a primary equity investment of $192 million in Eagle Eye Networks and Brivo, both companies majority owned by Dean Drako, current EEN CEO and chairman of Brivo.

"The SECOM investment underscores that cloud and Al are the future of physical security," Drako said at the time. "Both Eagle Eye and Brivo will use a significant portion of the investment to further develop Al that dramatically improves the security of enterprises and businesses globally.”

In its release EEN notes that it has made significant advancements in AI technology thanks to its introduction of Eagle Eye Smart Video Search. Smart Video Search is available to all existing and new Eagle Eye Cloud VMS (video management system) customers across the globe, the company said.

EEN provided a roadmap for upcoming AI-based solutions being funded by the investment including worker safety monitoring, smart anomaly detection, natural language search, business analysis, and more. Additionally, Eagle Eye Networks has planned for expansion of their global operations in countries where the company is growing because of large enterprise projects using AI-powered cloud video surveillance: Argentina, Brazil, Southeast Asia, Japan, Germany, Mexico, and the Middle East.

“Cloud and AI are revolutionizing the video surveillance industry, so the time is right for us to supercharge our AI product development and worldwide expansion with this major investment from SECOM,” Drako noted. “The Eagle Eye Cloud VMS is built to deliver what business owners today are looking for: a powerful platform with native AI features, a robust open API, and extensive technology ecosystem that allows customers to leverage cloud video surveillance for their specific security and business needs.”

The SECOM Series F funding follows the previous Series E funding that EEN received from venture capital firm Accel in October 2020.