FILE PHOTO: Figurines with computers and smartphones are seen in front of the words "Artificial Intelligence AI" in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
Dec 3 (Reuters) - Verkada was valued at $5.8 billion in its latest investment round led by CapitalG, more than a billion dollars higher than its previous round in February, the AI-based security products maker said on Wednesday.
The company provides cloud-managed video security cameras, access control, environmental sensors, alarms, workplace tools and intercoms to organizations across 171 countries.
The new funding round highlights investor appetite for AI-based security companies at a time when spending on such products is rising.
Verkada did not provide details on how much it had raised.
The company said the investment will accelerate its AI capabilities and may also provide liquidity for employees.
In February, Verkada had secured Series E funding at a valuation of $4.5 billion.
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Leroy Leo)
