“We strongly believe the total cost of ownership (TCO) for cloud systems is more affordable,” says Ken Francis, President of cloud video surveillance company Eagle Eye Networks. “And introducing really powerful AI will expand the cost differences.”
Combining AI And Cloud Video
Eagle Eye Networks has raised $40 million of Series E funding from venture capital firm Accel to finance realization of their vision to combine AI and cloud video. Eagle Eye to continue its steep growth curve and leverage AI on its true cloud platform to reshape video surveillance with the funding. “The investment will make video surveillance smarter and safer for end users,” says Francis.
Eagle Eye offers an application programing interface (API) to enable integration of best-in-breed third-party AI and analytics systems to leverage the video. The system sends captured video to the cloud, where a variety of AI or video analytics systems can extract valuable data from the captured video. In effect, end users have maximum flexibility to manage and analyze their video data however they wish.
Delivering Lower Costs
Eagle Eye is offering integration with third-party systems and investing in its own AI development, and hiring additional development and customer service personnel. Customers benefit from lower costs because of economies of scale as new technologies become part of the Eagle Eye platform. Keeping the emphasis on development of cloud systems, Eagle Eye also offers customers maximum flexibility in choosing their cameras.
Eagle Eye’s on-premise cyber-hardened “bridge” can connect to almost any camera from thousands of manufacturers, including those connecting with HD-over-coax. The COVID-19 pandemic has expanded the need for end users to view their premises remotely, and in the process has highlighted shortcomings of their existing video systems. As a result, video manufacturers – including Eagle Eye Networks – are seeing a surge in end users updating their systems.
Cloud Video Surveillance
In effect, the COVID-19 pandemic is accelerating installation of cloud video surveillance. “Our industry is the most resilient in the world,” says Francis. Given the costs of installing and maintaining hard drives for local storage (and additional challenges during a pandemic lockdown), more end users are opting to use cloud systems.
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