Brivo and Eagle Eye Networks Split $192M Investment

Brivo, a vendor of cloud-based vendor access control and smart space technologies, and Eagle Eye Networks, a vendor of cloud-based video surveillance, split a $192 million private equity investment from Japan-based SECOM CO, a security integration company founded in 1962. Brivo received $92 million and Eagle Eye, $100 million, according to a press release.

“The investment in the two companies is one of the largest investments to date in cloud physical security,” the companies claimed. “It will enable Eagle Eye and Brivo to further develop its use of AI to dramatically improve the security of businesses and citizens globally.”

Brivo and Eagle Eye are independent companies, but both are majority owned by Dean Drako, who founded the latter, where he serves as CEO, in 2012 and acquired a majority stake in the former in 2015, where he is chairman.

Drako is quoted as saying that the additional development will take a “significant portion” of the funding.

“Eagle Eye Networks will use the investment for continued development of its AI-based analytics capabilities such as Eagle Eye Smart Video Search, Smart Alarms, and Vehicle Intelligence, and to expand its worldwide operations,” the release said.

“Brivo will use the investment to grow sales and marketing, accelerate product development and scale support and operational functions, and evaluate strategic acquisitions. Brivo will also use the additional investment to continue expanding in Europe, Latin America, and Asia Pacific, and enhance the smart spaces and AI functionality in the Brivo Access Platform for its enterprise, multifamily, and commercial real estate customers.”

Brivo has of late been promoting the use of physical security in multifamily, also suggesting that its products and services can help drive rent premiums. Steve Sisson, president and CEO of Vita Residential, which has used Brivo as a vendor, said that residents were willing to by $35 to $55 more per month for a smart home experience.