Ramping-Week 1 Flashcards
Prepare for Demo Day (20 cards)
What is the Verkada founding story?
We were founded in 2016 by a group of Stanford and MIT computer scientists, as well as the former founder of Meraki, which sold to Cisco for 1.2 Billion dollars
Name each tool, why its important/primary function?
Salesforce: CRM, record keeper Outreach: Sales enablement tool Zoominfo: Provide contact info for DM's, B2B marketing database Zoom: Screenshare Ringcentral: dialer Linkedin: prospecting Sendoso: Corporate gifting platform
What are the four differences between Traditional vs. Verkada architecture?
- Easy to install: no DVR/NVRs, PoE connection and camera’s online in seconds–data storage up to 120 days
- Easy to scale: supports unlimited cameras. Low bandwidth 5-20kbps. No extra equipment needed
- Easy to manage: access from any device, anywhere in the world. Centralized management. Anyone can use it.
- No added costs: firmware is automatically pushed to keep systems safe. 10 year warranty. Traditional systems complex, unsecure, vulnerable, outdated
- keep costs down, no added scaling costs
Verkada: Elevator Pitch
Verkada is the fastest growing security company in the world.
Large operations haven’t had access to modern systems that are available to consumers and we are here to change that
Our modern technology makes installation seamless with 5 minute installation, investigation resolution in minutes instead of hours and reduced cost with our 10 year warranty
Bottom line: we aren’t here to sell a few cameras, we are here to change the future of security with our next gen platform
Command helps you easily?
Find, save and share footage
Buyer Persona: IT
Security: most physical solution from physical and cyber perspective. Encrypt data in transit and at rest, no need to open ports. Self firewall upon installation
-Square uses us
High performing network: Very low bandwidth at 5-20 kbps. Like sending an email
Not having to manage software updates: Simple installation. Firmware updates happen automatically. Permissions, no need for IT to manage access to footage
Buyer Persona: CIO
Bottom line: 10 year warranty, automatic software updates, reduced maintenance lowers the cost of ownership 20-30% with the same up front cost as competitors. No need to send out a technician $100 per hour when issues arise
Mitigating Risk
Buyer Persona: Physical Security/Facilities
Ease of use: Plug into PoE and setup in 5 minutes. Powerful search tools. Share live links. Instant alerts. Permissions. Automated firmware updates
How does Verkada handle cyber security?
No need to open ports. Automatically self firewall at installation when you connect to our network on port 443
Square: leader in PCI compliance chose us as the only company that met their security requirements
How does bandwidth work with Verakda?
5-20kbps. Similar to sending out an e-mail.
How do you justify the licensing cost?
- ten year warranty
- automatic software updates
- reduced maintenance: no technicians at $100 per hour. 95% of issues handled by our team in San Mateo
Lowers overall cost 20-30% vs traditional architecture
Objection: What if Verkada goes out of business?
One of the fastest growing security companies in the world. Our recent Series C funding of $80m puts at a valuation of $1.6bn. Ventured backed by names like Sequoia, First Round and Meritech Capital
Objection: We need PTZ cameras?
Pan/Tilt/Zoom
Verkada satisfies many of the use cases for PTZ with its zoom/HQ footage, eliminating the need for PTZ
Eliminates human error of moving the camera and forgetting to return it–missing potential activity
“tell me more about that. Is someone actively monitoring those cameras?”
Objection: I am worried about Bandwidth consumption
Verkada uses a hybrid cloud architecture. Solid state drive stores data up to 120 days. All that data continuously sent to the cloud. You can view anytime on any device. Support SAML SSO based multi factor auth
“70% of our business is in education. Customer X had the same situation. Why don’t I get a couple cameras out for you on a free trial and you can see for yourself”
Objection: What if we lose internet connection?
Camera’s continue to record as long as they remained powered. Support offline mode through the LAN. The metadata is stored directly on the camera. If the camera goes down are metadata thumbnails every 5-20 seconds.
Everything that you have archived will be available.
“Dig in to the customer success stories from the patch”
Objection: What if the camera fails or tampered with will we lose the data?
All our cameras have a built in Accelerometer. Upon detection of a tampering event the camera will automatically start recording in high resolution and sending to the cloud. They will back up still images to the cloud. Unliked a traditional NVR if destroyed, all the footage from all cameras will be lost
“if cloud backup is turned on (30 days)”
Objection: Why doesn’t Verkada integrate with our existing system?
We focus on continued innovation to get you the latest and greatest technology. We take cyber security very seriously. Our solution allows for fast innovation coupled with strong security and high quality.
Do you integrate with POS?
Yes, we may be able to integrate depending on the system. Most of our customers choose not to though because of the simplicity of our system. Most use their POS to track a particular point in time and then use our thumbnails to drill down.
I am not looking to replace everything all at once.
Not to worry. 80% of our customers start off with a few cameras and scale over time. Unlike traditional systems that require 8-32+ NVR port
Why is Verkada so expensive? I don’t want to pay a recurring fee
We have an innovative pricing model. We offer a 10 year warranty. All future innovations are included in that price so your forecasting is very straight forward. Unlike traditional systems that are riddled with hidden costs.
“Paint a picture of innovation, blockbuster–>Netflix. We build new features and it gets pushed to you”
