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Verkada

Hans Robertson, got the idea of Verkada when fifty iPads were stolen from his company.

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Verkada offers cloud-based consumer security solutions for businesses and organizations. Filip Kaliszan, James Ren, and Benjamin Bercovitz are the three Stanford graduates who co-founded Verkada along with Hans Robertson. Hans has co-founded another company before Verkada and served as the COO of the same. Currently, Filip Kaliszan is the CEO of the company and Hans Robertson is the Executive Chairman. Verkada was founded only five years ago and within a small time, it has become the talk of the physical security industry.

About Verkada Inc

Verkada is a physical security company that builds cameras, access control systems, environmental sensors, and alarms. The company builds cloud-based software platforms to access high-end hardware security products and make buildings safer. Verkada’s headquarters are based in San Mateo, California, and have customers across the globe. Their customers increased by nineteen folds between 2017 and 2018.

It has also received many awards and recognitions including Top Startups (LinkedIn), AI 50 Most Promising AI Firms (Forbes 2020), Enterprise Tech 30, etc. In January 2021, the company also became one of the 100 Best Places to Work in the Bay Area 2021 (Built-in). Last year the company crossed the $1 billion mark valuation after its Series C funding round.

Founding Idea

As it is said that every great idea emerges problem the problem, the story of Verkada is also somewhat similar. Before Verkada was founded, Hans was busy with his company Meraki (now Cisco Meraki). One day he found that fifty iPads were stolen from his company and that the video cameras in the security system were also not working for months. He realized the need for high-end security cameras in the market integrated with cloud-based software. So, Hans along with the other three co-founders decided to build a company to solve this problem. The goal was to keep data secure yet at the same time use AI to train the cameras for taking clearer photos, especially during suspicious situations.

Verkada
Image source: prnewswire.com

Towards the Success

They started working on the product right away and launched beta testing in 2017 with two camera models. The company had to struggle very hard especially during the seed and Series A funding round because only a few could see the vision and potential behind the idea. Investors started showing interest in Verkada after it appeared in the Forbes 2019 list of Next Billion-Dollar Startups. It also became one of the top companies in the AI category (Forbes). After these two big features, the company successfully raised $40 million in Series B funding and the valuation of the company became $540 million.
In January 2020, the Series C funding round of Verkada took place (led by Felicis Ventures) in which it raised $80 million. The total funding received till Series C summed up to $139 million and the valuation of the company became $1.6 billion. Verkada became a billion-dollar company only after three years of launching its first product. Later in 2020 the company also launched its first access control device. The idea behind this new product is to integrate security cameras and lock in a single platform. During the COVID-19 pandemic, the company also decided to distribute free surveillance kits to important organizations (like healthcare and medical businesses).

Recent Events

In October 2020, news about the Verkada breach broke out in the news as the whole world witnessed the compromise of its security systems. A group of tech-savvy hackers infiltrated the camera systems of Verkada everywhere from hospitals to jails. This included 150,000 cameras in active surveillance. The hackers not only broke into the live surveillance feeds but also gained access to the archives of Verkada cameras. Later the hackers claimed that they founder Verkada’s super admin password publicly available on the internet.

Filip Kaliszan – CEO of Verkada Inc

Filip Kaliszan is a Standford graduate who completed both his bachelor’s and masters in computer science. He was also a computer science research assistant at the university for several months. In 2007, he founded CourseRank Inc which came under Chegg after three years. In 2010 Filip joined Chegg as the Director of Product Management and also worked at Guidebook Inc until co-founding Verkada.

Dormakaba

Dormakaba – One of the Biggest Global Access Control and Security Solutions Company.

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Dormakaba Holding AG started as two separate companies and have separate histories before 2015. Kaba and former Dorma merged in 2015 to form Dormakaba, a global security group offering services like identification, safe locks and lodging products.

Dormakaba is a global leader in the field of access security and has over 150 years of experience. The company is providing its services to almost every industry, including healthcare, hotel, education, shops, entertainment facilities, etc. Dormakaba headquarters is based in Rümlang, Switzerland, and over 15000 people are working for it. Dormakaba work in five different segments, i.e., Access Solutions AMER (North and South America), Access Solutions APAC (Asia Pacific), Access Solutions DACH (Germany, Austria, Switzerland),  Access Solutions EMEA (Europe, Middle East, Africa), Key and Wall Solutions.

The Growth History of Dormakaba

Dormakaba
Image source: www.mark-info.co.uk

Kaba started as a locksmith shop, which also worked as a cash register factory. Franz Bauer founded Kaba in Zurich in 1862, but in 1915, Leo Bodmer bought and renamed the company to Bauer AG. The first patent for the company after the acquisition was of the first cylinder lock made by inventor Fritz Schori. The lock was named after the founder of Kaba, i.e., ‘Kassenbauer’ (in German).

In the coming years, the company expanded from Zurich to the whole of Europe and listed on the Zurich stock exchange along with a name change to Kaba Holding AG in 1995. In 2001, the company started to expand overseas through some major acquisitions, Unican Security Systems of North America being one of them. The company also acquired a China-based company named  Wah Yuet Group, a US-based company Computerized Security Systems and a Dutch company  H. Cillekens Zn. B.V. in 2006. At the same time, Kaba also partnered with Minda Group of India.

The Growth Story of Dormakaba

On the other hand, Wilhelm Dörken and Rudolf Mankel founded Dorma as Dörken & Mankel KG in Ennepetal, Germany, in the year 1908. The company worked in the field of door technology. For the 50 years of its inception, the company was constantly working towards incorporating technology into the door systems, and in 1962, it built its first automatic door.

In the next fifteen years, the company also started to work on glass fittings. The company also started to expand and opened its first international office in Singapore in 1978. In the next ten years, Dorma brought Safety solutions and emergency exit control systems to its product range. In 1999, Dorma acquired a comapny named Groom and introduced mobile partition walls in 2002. In 2013, the company recorded 1 billion Euros in annual turnover.

The Merger

The two companies, Dorma and Kaba, both the leaders in their respective fields, decided to merge their operations to expand even more. The two companies came together on 30 April 2015 for the planning and sealed the deal in September of the same year.

The Product Range

Today, Dormakaba is among the top three security companies and is offering its services worldwide. Since the company is a result of a big merger, the company provides its services under multiple brand names, including Keyscan, Best, Dorma, Dorma, Dormakaba, lIco, Kaba, Kilargo, Legic, etc. Also, the areas of operation for the company includes door hardware, electronic access and data, entrance systems, mechanical key systems, safe locks, lodging systems, interior glass systems, movable walls, etc.

The CEO at Dormakaba

Sabrina Soussan is the CEO of Dormakaba. She is a French and German national. Soussan has a Master’s Degree in Mechanical and Aeronautical engineering from the E.N.S.M.A Aeronautical and Mechanical Engineering School, Poitiers (FR) and an MBA Degree from the Poitiers and Dublin University.

Soussan was appointed as the CEO of Dormakaba in January 2021. Before that, she served as the co-CEO at Siemens Mobility and worked at the company for eleven years in different positions. She also worked at companies like Renault for a few years. Soussan is also a member of the board of directors at ITT Inc. and Schaeffler.