Security software company Verkada has raised $205 million in its latest VC funding round that saw investments from venture capital giant Sequoia Capital and MSD Partners.
Verkada, founded in 2016, makes video security cameras, environmental sensors and alarms. It plans to use the $205 million it raised in the round for hiring and expansion, as well as developing new products, according to the company.
Tech investor Linse Capital led the round, which also saw backing from Next47, the venture firm backed by German engineering company Siemens.
Verkada increased headcount by 68 percent and nearly doubled its total revenue in the past twelve months. It has nearly 13,000 customers.