Verkada, a provider of cloud-managed enterprise building security and management solutions, announced a $205 million Series D funding round with new and existing venture partners. The round was led by Linse Capital, with participation from MSD Partners, L.P., and existing investors, including Felicis Ventures, Next47, Sequoia Capital, Meritech Capital and First Round Capital. 

Since its founding in 2016, Verkada has raised more than $360 million in funding and the latest round is said to value the company at $3.2 billion. 

Verkada will use the investment to enhance its existing offerings, developing new product lines, hire across all functions and continuing its geographic expansion, according to the announcement. 

Since its last fundraise in January 2020, Verkada has both quadrupled its customer count and its team size, and opened six new offices. In the past 12 months, the company Verkada grew its team by 68%, opened three new offices, and nearly doubled total revenue year-over-year, the announcement states. 

"We founded Verkada in 2016 with the vision to modernize the world of physical security — one of the last industries to experience a migration from on-premise solutions to cloud-based software,” said Filip Kaliszan, co-Founder and CEO of Verkada. “We started with security cameras and an intuitive cloud-based platform, and in just six years, we've expanded to include five additional product lines that help enterprises to protect and manage their people and assets. This latest commitment of capital is further validation from investors that we are well positioned to capture the opportunity that lies ahead." 

Verkada's six product lines — video security cameras, door-based access control, environmental sensors, alarms, guest, and mailroom management — provide visibility through a single cloud-based software platform. The platform is deployed by more than 13,000 organizations worldwide, including more than three dozen companies in the Fortune 500, the announcement states.