AI-powered security firm Verkada valued at $5.8 billion in latest investment round

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)