Eagle Eye, Brivo Get $192 Million Infusion
- By Ralph C. Jensen
- May 17, 2023
Let’s say you want to grow your company, expand your reach outside of North America, and into just about every market on earth; a first thought might be money. Drako companies, Eagle Eye Network and Brivo now have $192 million to enhance that worldwide dream.
Dean Drako, CEO of Eagle Eye Networks, the companies have received a $192 million investment from SECOM Co., Ltd., who happens to be one of the largest security integration companies worldwide.
“The SECOM investment underscores that cloud and AI are the future of physical security,” said Drako. “Both Eagle Eye and Brivo will use a sizable portion of the investment to further develop AI that dramatically improves the security of enterprises and businesses globally. The Eagle Eye and Brivo open platforms provide customers with choice, efficiencies and innovation, all of which this investment will accelerate.”
Both companies will use the funding to further product development with an emphasis on AI. Drako said this is a game changer where AI will watch video surveillance all the time. Both companies plan to expand their sales force and place a bigger emphasis on marketing.
As part of the Drako company group, Brivo founder and CEO Steve Van Till said his focus will be an expansion into the international marketplace, as well as moving into the South American market, where they currently have a light presence.
“We’re pleased to be able to bring our security solutions to underserved areas of the world,” Van Till said. “We know the security integrators are very sophisticated. We currently integrate with many third-party technology providers, including property management and Proptech platforms.”
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 grow its worldwide operations. Drako said that Eagle Eye Networks has a strong presence in North American and Latin America, and he feels like they are good in most European countries but expects expansion to grow Europe and Asia/Pacific regions.
While this is considered a mega investment, it does come with its challenges as AI technology gains a stronger foothold in the industry. Drako said AI is not particularly worrisome to him, but it is the bigger picture, such as driving cars or design of buildings that may cause a pause. He said that people tend to get lazy and there are ample amounts of erroneous information associated with the development of AI.
“People who are calling for a pause in AI are misguided,” Drako said. “Those same people do not understand the forces that are at work. Asking for a development pause is a joke. The competition will crush you.”
Van Till added that every technology ever invented has been littered with bad people. He said we should never U.S. competition to pause. China and Russia do not pause their efforts. Every tool ever created has been misused.
The growth of AI must include a trust of AI use. A recent poll showed that 91 percent of those involved wanted AI to be carefully managed and built as a global organization, global in scale, governance and research.
About the Author
Ralph C. Jensen is the Publisher/Editor in chief of Security Today magazine.