Verkada funding: Every round, investor, and valuation (2026)

Verkada sells physical security to businesses, schools, hospitals, and governments. Its products include AI security cameras, door access control, alarms, environmental sensors, intercoms, and visitor management. Every device plugs into Command, a single cloud dashboard, and every device needs a paid software license to keep working.

Verkada has raised about $764 million across nine funding events since 2017, almost all of it equity. Its last priced round, a December 2025 deal led by CapitalG, Alphabet's growth fund, valued the company at $5.8 billion.

The company was built on a template its co-founder had already proven at Meraki: sell hardware that is managed entirely from the cloud. The investor list has moved from classic venture firms to growth funds and, in 2026, Nvidia. Let's dive into Verkada's funding history.

Verkada raised small, early rounds while it found product-market fit, then took far larger checks once its customer count started compounding. A different firm led almost every round, and the early backers kept coming back.

Verkada was founded in 2016 by Filip Kaliszan, Hans Robertson, Benjamin Bercovitz, and James Ren. Kaliszan, Bercovitz, and Ren studied at Stanford. Robertson had co-founded Meraki, the cloud-managed networking company Cisco bought in 2012, and he brought the same idea to cameras: hardware that installs in minutes and is run from a web browser.

SEC filings show a few hundred thousand dollars in convertible notes and SAFEs in 2016 and early 2017, which most likely rolled into the seed. First Round Capital led the $3.9 million seed in 2017. Stanford computer science professor Héctor García-Molina invested alongside Robertson.

Next47, the venture arm of Siemens, led the Series A in April 2018. A year later, Sequoia and Meritech co-led the Series B and set the first public valuation.

Felicis led the Series C in January 2020, its first Verkada investment. The round paid for Verkada's move beyond cameras into door access control, a market the company put at $7 billion. Verkada said it had tripled revenue in the prior year and reached about 2,500 customers.

In March 2021, a hacking group used an administrator password it found online to reach live feeds from more than 150,000 Verkada cameras, inside hospitals, jails, schools, and companies such as Tesla and Cloudflare. Verkada later said 95 customers had video or images accessed.

Investors stayed. Linse Capital led the Series D in September 2022, joined by MSD Partners and every major existing backer. By then Verkada counted about 13,000 customers, and its headcount had quadrupled since the Series C.

Alkeon Capital led a Series D extension in October 2023, with Lightspeed joining. Verkada did not disclose a new valuation. The company said it had passed 20,000 customers.

General Catalyst led the Series E in February 2025, and Eclipse made what Verkada called a significant investment. Verkada said revenue had grown 95% since the Series D and that more than 30,000 organizations now used its products.

CapitalG led the next deal in December 2025. CNBC and SiliconANGLE put it at $100 million, though Verkada's own release gave no amount and said the investment "may also enable liquidity for employees." SEC filings show only about $20 million of new shares sold at that point, which suggests most of the deal bought existing shares from employees rather than funding the company.

Nvidia joined in July 2026 through a second tranche of the same offering, paired with a technical partnership. Verkada did not announce the size, and filings show about $20 million. The company has reported no debt facility at any stage.

Verkada's valuation has risen more than tenfold since its first priced round in 2019. The steepest jump came early, and the gains since have been slower but steady.

The Series C nearly tripled the valuation in nine months. Investors were paying for a cloud model that had already tripled revenue in a year, in a camera market still dominated by on-premise video recorders.

The Series D doubled it again, but over two and a half years. That gap covered the 2021 breach and the start of the 2022 downturn in venture funding, when many late-stage startups raised at flat or lower prices.

The 2023 extension came without a new public price. Fortune later reported that the Series E valued Verkada about $1 billion above its prior mark, which points to roughly $3.5 billion after the extension.

The step up to the Series E was modest for a company that had nearly doubled revenue since 2022. CapitalG's round then added $1.3 billion in ten months, a 29% increase. Secondary-market platforms have quoted prices for Verkada shares since, but the company has not set a new valuation.

Verkada's cap table has three layers: the venture firms that backed the founders early, the growth funds that led the big rounds, and the strategic investors that arrived late. The company has not disclosed any investor's stake.

First Round Capital led the seed and has joined most rounds since. Next47 gave Siemens, a major supplier of building technology, an early look at cloud security hardware.

Sequoia and Meritech co-led the Series B and have stayed in every major round. Felicis led the Series C and kept investing through the Series E.

Linse Capital led the Series D. MSD Partners, the firm built to manage the fortune behind Michael Dell's stake in Dell, joined the same round and came back for the Series E. Alkeon Capital and Lightspeed came in with the 2023 extension.

General Catalyst led the Series E, with partner Deep Nishar quoted in the announcement. Eclipse, a fund that focuses on hardware and industrial companies, joined it. Both firms back companies that sell physical products, which fits a business built on cameras and door readers.

CapitalG is Alphabet's independent growth fund. Alphabet already has a foothold in physical security through Google's stake in ADT, but that bet is on home alarms. CapitalG has also made late-stage AI bets elsewhere, including Hippocratic AI's $3.5 billion round.

Nvidia's investment came with a working relationship. Verkada uses Nvidia's Cosmos world foundation models and its Physical AI Data Factory to train video search models. Verkada reported a 68% gain in accuracy on searches across space and time. For a company whose data center chip business earns far more than this check, the stake is less about returns than about placing its models inside millions of deployed cameras.

Hans Robertson, the Meraki co-founder, invested at the seed and is executive chairman. Filip Kaliszan is CEO. Stanford professor Héctor García-Molina invested in both the seed and the Series A.

Verkada is a hardware company with a software business attached. Customers buy the camera, door reader, or sensor, then pay a cloud license for each device to keep it running in Command. Reseller price lists put a one-year camera license at about $199, with discounts for terms of up to ten years.

Most of the capital has gone into new products. Verkada started with cameras, added access control after the Series C, and has since built alarms, air quality sensors, intercoms, guest management, and mailroom tools. The company says 78% of its core customers use two or more product lines.

The latest rounds are paying for AI. Verkada shipped more than 60 AI features at its 2025 product event, including a timeline that stitches footage from many cameras into one view of an incident. In 2026 it added AI deterrence, which warns intruders before an alarm triggers, and reasoning models built with Nvidia.

Verkada sells largely through resellers, and it already worked with more than 1,100 of them in 2020. The Series C paid for its first international office in London, and the Series D was earmarked for hiring "across all functions."

The expansion has continued since. Verkada opened an office in Singapore in 2025, a hub in Dubai in January 2026, and four new US offices in Atlanta, Chicago, Dallas, and Los Angeles in March 2026. It received FedRAMP Moderate authorization in May 2026, which opens up more US federal work.

The 2021 breach turned security into a cost line of its own. In 2024, Verkada agreed to pay $2.95 million to settle a Federal Trade Commission case covering the breach and unwanted marketing emails, the largest penalty the FTC had won under the CAN-SPAM Act. The settlement requires Verkada to run a security program with outside audits.

Part of the money has gone to staff rather than the company. The CapitalG deal was structured to let employees sell shares, which matters for a business that has stayed private for a decade. Verkada has not disclosed revenue or profit, but it said it passed $1 billion in annualized bookings in December 2025.

Verkada's growth push is aimed at bigger customers and new verticals. It reported more than 31,000 customers in March 2026 and said revenue grew 30% in its last fiscal year. In September 2026 it launched Verkada Transportation, with cameras and GPS for vehicle fleets, plus cloud-managed sound systems and a drone integration with Skydio. Its Catalyst tool connects Command to AI assistants such as Claude, ChatGPT, and Gemini, all aimed at selling more products to each account.

The company has said it will go public, though it has filed nothing. The Information reported in July 2026 that Verkada was talking to banks about a US IPO, and trade publication IPVM has reported employee frustration over the timing. The CapitalG secondary eased some of that pressure, and the Nvidia money is a small strategic check rather than a new runway.

The risks are trust and competition. Another breach would hit a company that sells security, and its facial recognition has drawn press scrutiny over false matches. In enterprise video, Verkada competes with Motorola Solutions, owner of Avigilon, whose widely held public ownership gives it a currency Verkada lacks for acquisitions. It also faces cloud rivals such as Rhombus and Eagle Eye, while the home market stays with players like Ring under Amazon's ownership. An IPO would test whether investors value Verkada like software or like hardware. Nvidia's stake suggests the answer may turn on physical AI, the same theme behind Physical Intelligence's robotics rounds.

Verkada has raised about $764 million across nine funding events, from a $3.9 million seed in 2017 to Nvidia's strategic investment in July 2026. That total counts the reported $100 million CapitalG deal in December 2025, part of which bought shares from employees. The company has reported no debt beyond small convertible notes in 2016.

Verkada's lead investors include First Round Capital, Next47, Sequoia Capital, Meritech Capital, Felicis, Linse Capital, Alkeon Capital, General Catalyst, and CapitalG. Other backers include MSD Partners, Lightspeed Venture Partners, Eclipse, Nvidia, and early angels Hans Robertson and Héctor García-Molina.

Verkada was valued at $5.8 billion in December 2025, when CapitalG led its last priced round. That is up from $4.5 billion in February 2025 and $3.2 billion in September 2022. Nvidia's 2026 investment did not come with a new valuation.

No. Verkada is private and has not filed for an IPO. Its CEO has said the company will go public eventually, and reports in 2026 said it had held talks with banks.

Verkada is owned by its founders, employees, and investors. Co-founder Filip Kaliszan is CEO and co-founder Hans Robertson is executive chairman. The largest outside holders are likely the firms that have backed it since its early rounds, such as Sequoia, Meritech, Next47, and First Round, along with later leads like Linse Capital and General Catalyst, though exact stakes are not public.