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Eagle Eye Networks raises $40M from Accel

Eagle Eye Networks has raised $40 million of Series E funding from venture capital firm Accel (Facebook, Spotify, DocuSign). Eagle Eye says it is leveraging artificial intelligence (AI) on its cloud platform to reshape video surveillance.

“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, in a prepared statement. “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.

Sameer Gandhi, Partner at Accel added, “Eagle Eye Networks pioneered the video surveillance industry’s move to the cloud, and AI applications will drive the industry’s next transformation. Eagle Eye is in the pole position to make this happen. Its true cloud technology puts Eagle Eye in a unique position to instantly deploy new analytics breakthroughs. Dean Drako’s track record, proven with Eagle Eye and previously as founder of Barracuda Networks, speaks for itself.”

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.