Funding round
Verkada Series C
Verkada, which works in physical security solutions development in San Mateo, raised $80M in a Series C round announced on 29 Jan 2020, led by Felicis, at a $1.60B post-money valuation. 4 firms took part, 3 of them already investors. It is Verkada's fourth venture round on record; the one before was a Series B in Apr 2019.
$80M
Amount raised
$1.60B
Post-money valuation
4
Investors
1 lead
3.0x
Step-up from the Series B
$540M in Apr 2019
5.0%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Verkada at $1.60B after the new money, 3.0 times the $540M of its Series B (Apr 2019). The $80M bought investors about 5.0% of the company. It came 9 months after Verkada's Series B. It is 12% of the $644M Verkada has raised in the venture rounds on record. Verkada raised again 32 months later: a Series D round of $205M in Sep 2022, at $3.20B post-money.
Verkada's funding rounds
Verkada has 7 venture rounds on record and 1 other deal. This one is highlighted.
- Debt not a venture round 28 Oct 2016 $400K
- Seed 21 Sep 2017, led by First Round $3.9M
- Series A 11 Apr 2018, led by Next47 $15M
- Series B 25 Apr 2019, led by Meritech Capital and Sequoia Capital $40M$540M post-money
- Series C this round 29 Jan 2020, led by Felicis $80M$1.60B post-money
- Series D 14 Sep 2022, led by Linse Capital $205M$3.20B post-money
- Series E 19 Feb 2025, led by General Catalyst $200M$4.50B post-money
- Growth 3 Dec 2025, led by CapitalG $100M$5.80B post-money
Investors
Who put money in
Felicis led the round with 3 other firms. Next47, Sequoia Capital and Meritech Capital had backed Verkada before.
Lead investor
- Felicis backs 237 venture-backed companies new investor
Also in the round
- Next47 existing investor
- Sequoia Capital backs 589 venture-backed companies existing investor
- Meritech Capital existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 2 in Alarms, Surveillance & Security Systems, then Series C rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Alarms, Surveillance & Security Systems | 16 Jul 2020 | $36M | not disclosed | Greycroft |
| Flock Safety Alarms, Surveillance & Security Systems | 2 Nov 2020 | $47M | not disclosed | Meritech Capital |
| Software Development Services | 3 Jan 2020 | $175M | $1.00B | Vulcan Capital and Andreessen Horowitz |
| Health Care Services | 7 Jan 2020 | $156M | not disclosed | Ontario Teachers’ Pension Plan |
| Nutritionists & Weight Loss Specialists | 10 Jan 2020 | $93M | not disclosed | Caffeinated |
| Hosting & Cloud Infrastructure Providers | 22 Jan 2020 | $90M | not disclosed | Berkshire Partners |
| Tech Companies | 15 Jan 2020 | $90M | $500M | ICONIQ Capital |
| Coinmerce Cryptocurrency | 20 Jan 2020 | $75M | $500M | Accel |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Verkada raise in its Series C round?
Verkada raised $80M in its Series C round, announced in Jan 2020.
Who led Verkada's Series C round?
Felicis led it, with Next47, Sequoia Capital and Meritech Capital.
What was Verkada's valuation at the Series C round?
$1.60B post-money.
Did Verkada raise again after this round?
Yes: a Series D round in Sep 2022 of $205M at $3.20B post-money.