Eagle Eye Networks Inc. July 31 announced that MSD Capital, L.P., the private investment firm for Michael S. Dell and his family, has made a multi-million dollar growth capital investment in Eagle Eye Networks.
The Series B funds will be used to further expand the Eagle Eye Security Camera Video Management System (VMS) infrastructure to meet the rapidly growing customer demand.
In addition to Michael Dell, also participating in the round were Austin Ventures and notable security industry luminary Enrique Salem, former CEO of Symantec and current board Member at FireEye. Eagle Eye Networks delivers a cloud managed security and operations video management system (VMS) which provides both cloud and on-premise recording. Eagle Eye offers secure, encrypted recording, camera management, mobile viewing and alerts ? all from a 100% cloud managed platform.
A recent cloud video surveillance survey report showed that two-thirds of businesses are looking for some cloud video recording to be included in their next system or upgrade. The survey also confirmed that the role of IT is expanding, and that companies want their security camera systems to address both security and business operations applications.
“I was greatly impressed with Dean Drako’s execution as founder and long-time CEO of Barracuda Networks” said Michael Dell. “Eagle Eye Networks will bring tremendous advances in video surveillance with a 100% cloud-managed system that meets rigorous security requirements. Cloud technology is transforming the video surveillance industry, with broad applications spanning both security and business operations.”
“Michael Dell continues to be at the top of his game in driving technology innovation,” said Dean Drako, president and CEO of Eagle Eye Networks. “Eagle Eye Networks is enabling its resellers and end users to deploy one video management system which can support and adapt to their business needs across all applications. Michael brings valuable insights as we accelerate our deployment, channel program, and sales of our Eagle Eye Security Camera VMS.”