Austin security services company raises funding from Michael Dell

Aug 1, 2014
Austin Business Journal

The investment firm that manages Michael Dell’s personal wealth has invested an undisclosed amount in Austin-based Eagle Eye Networks Inc

New York-based MSD Capital LP participated in the Series B round of funding for the company that specializes in security camera video management. Austin Ventures LP also invested in the financing, according to a statement released Thursday by Eagle Eye. The U.S. Securities and Exchange Commission doesn't list a financing completed by Eagle Eye Networks

The company, founded in 2012 by Barracuda Networks Inc. co-founder Dean Drako, employs 25 workers and operates offices in Austin and Los Altos, Calif. The new product is designed to integrate security camera feeds into an in-browser feed that is stored online and can be accessed online

Eagle Eye charges a subscription fee that begins at $4.99 per camera per month, as well as an initial instillation charge that includes the hardware needed to connect to serves. The pricing varies depending on how much recording and data the company stores online

MSD Capital is an 80-person firm that was established in 1998 to manage about $12 billion for the CEO of Round Rock-based Dell Inc. He is ranked by Forbes magazine as the 48th richest billionaire with a net worth of $17.5 billion

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