Dean Drako

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Dean Drako
Dean Drako speaking at ES Design West, SF Moscone Center, July 2019.jpg
Drako at the ES Design West 10 July 2019
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Dean Drako is an American businessman and entrepreneur who has founded more than six companies. Drako was founder, president and CEO of Barracuda Networks [1] from 2003 to July 2012. He is currently owner and CEO of Brivo, [2] [3] and co-founder and CEO of IC Manage and Drako Motors. [4] He is also owner and chairman of Cobalt AI. [5]

Contents

Drako grew up in Detroit, Michigan, founding his first company in high school; his company T-net's bulletin board system software package was used to share messages via modems. He sold T-net and used the profits to fund his college education [6] [7] at University of Michigan, where he graduated with a BS in electrical engineering. He later moved to California to attend UC Berkeley, earning an MS in electrical engineering. [8]

As of 2020, Drako is a holder of 53 patents, including patents on video streaming, video storage, video analytics, digital image processing, network security & protocols, digital circuits, biochemical assays, and electric automobiles. [9]

Business career

DAI and IC Manage

Drako has founded two companies in the semiconductor industry. In 1992, Drako founded Design Acceleration Inc, selling it to Cadence Design Systems in 1999. [10] [11] In 2003, he and Shiv Sikand founded IC Manage a design & IP management company. [12] Drako continues to serve as IC Manage's President and CEO. [13]

Barracuda Networks

Also in 2003, Drako founded Barracuda Networks and introduced their email spam and virus appliance product line. [14] [15] Other Barracuda product lines launched during Drako's tenure were: web filters, [16] load balancers, [17] email archiving, [18] and digital PBXs. [19]

Drako executed six acquisitions by Barracuda Networks: In 2007, NetContinuum, an application controller company; [20] in 2008, BitLeap, a provider of cloud-based backup services, [21] and 3SP, an SSL and VPN company; [22] in 2009, Yosemite Technologies, for incremental backup of applications; [23] a controlling interest in phion AG, an Austria-based public enterprise-class firewalls company, [24] and Purewire Inc, a software as a service (SaaS) cloud-based web filtering and security company. [25] Drako contributed to or supported 16 different open source projects while running Barracuda including Valgrind, Apache, and the Free Software Foundation. [26]

Barracuda was ranked #2 by Glassdoor in 2011, with Drako receiving an 88% approval rating. [27] Drako resigned from Barracuda Networks in July 2012 to found Eagle Eye Networks, while continuing to serve on Barracuda's board of directors until 2014. [28] At the time of Drako’s resignation, Barracuda stated it was profitable, generating hundreds of millions in annual revenue, close to 30% year-over-year growth since inception, and had surpassed 150,000 customers. [29] [30]

Eagle Eye Networks

Drako left Barracuda Networks in July 2012 to found Eagle Eye Networks, a cloud-based video security company, serving as CEO [31] [32] . He officially launched Eagle Eye Networks in 2014, stating that his desire to found the company was driven by his frustration when trying to set up a video security system for a remote office while CEO of Barracuda; he wanted to make video surveillance more accessible and far easier to use by leveraging the cloud. [33] [34] Drako has been credited with establishing the concept of ‘true cloud’ in the physical security industry, emphasizing the differences between applications designed specifically for the cloud and legacy-design applications being run on a cloud-hosted virtual server. [35]

Drako initially financed Eagle Eye Networks himself, later raising multiple rounds: an undisclosed amount from Michael Dell in 2014, a $40M series E in 2020, and a $100 million Series F in 2023, with Drako continuing be the majority owner. Drako has stated that more recent funding was to accelerate the company's AI execution. [36] [37] [38] Eagle Eye Networks ranked four times on the Deloitte Technology Fast 500 list of fastest growing technology companies in North America (2019, 2020, 2021, and 2023). [39] [40] [41] [42]

In December 2014, Drako merged Eagle Eye Networks with Brivo, becoming CEO of Brivo. [43]

Brivo

In 2015, Drako acquired cloud access control system provider Brivo for $50M, serving as Brivo's Chairman. [44] and operating it as separate entity from Eagle Eye Networks [45] [46] for more than 10 years until the two companies merged in December 2025, with Drako taking on the CEO role for Brivo following the merger. [47]

In November 2022, Brivo closed long-term senior secured credit facility of $75 million with Runway Growth Capital. [48] In 2023, Brivo raised $92M in financing, with Drako continuing to hold a majority share of the company. [49]

Cobalt AI acquisition

In June 2024, Drako acquired Cobalt AI, a provider of enterprise AI alarm filtering, remote monitoring and security robot solutions, for an undisclosed sum, where he also serves as chairman. [5]

Drako Motors

Drako is co-founder [50] and CEO of Drako Motors, an automotive software platform provider, which on August 6, 2015 announced its first product, the Drako DriveOS, a single VCU (vehicle control unit) operating system which controls all four wheels independently. [51] In June 2019, Drako Motors pre-announced their Drako GTE electric quad-motor supercar, claiming speeds of up to 206 MPH and 1200 horsepower. [52] [53] [54] [55] In August 2019, Drako Motors formally launched the all-electric production Drako GTE. [56] [57] In November 2022, Drako Motors launched the Drako Dragon all-electric luxury SUV, with 2,000 HP and 200+ mph maximum speed, quad motor powertrain, and two gullwing doors. [58] [59]

PermRecord and Permanent Legacy Foundation

In 2015, Drako created the PermRecord Foundation with the stated purpose "to ensure the preservation of materials placed in its trust." [60] This foundation contracted out to a commercial company, Permrecord, Inc., also founded by Drako, for its programming services. [60] By 2019 this mission had evolved "to preserve and provide perpetual access to the digital legacy of all people for the historical and educational benefit of future generations." [61] The foundation is controlled by its sole member (Drako), [61] and is supported primarily by grants from Drako. [61] The foundation's website refers to itself under the DBA "Permanent Legacy Foundation". [62] [61]

Awards and recognition

Drako has been named a winner of the Ernst & Young Entrepreneur of the Year Award twice: first, as CEO of Barracuda Networks (Northern California, Networking and Communications) in 2007, [63] and later as CEO of Eagle Eye Networks (Gulf South Region) in 2024. [64] In 2014, Goldman Sachs included Drako in its list of the 100 Most Intriguing Entrepreneurs. [65]

Drako has served on the University of Michigan Advisory Council since 2012 [66] and was the commencement speaker for University of Michigan Engineering School in 2016. [67] In 2014, he was UC Berkeley's Engineering Week keynote speaker, where he discussed his five principles of entrepreneurship. [68] He has also been an invited speaker for UC Berkeley's Richard Newton lecture series. [69]

He was elected five times to the board of directors of the ESD Alliance, serving from 2012 to 2023. [70] [71] [72] [73] [74]

References

  1. ↑ SJ Mercury News Biz Break: Barracuda Networks IPO primes pump for Twitter
  2. ↑ Channel Futures Eagle Eye's Dean Drako Grabs Brivo In $50 Million Deal June 11, 2015
  3. ↑ Security Systems News Brivo and Eagle Eye Networks merge to create global cloud-native security company December 29, 2025
  4. ↑ Silicon Hills Drako Motors Creates Software to run Electric Sports Cars December 1, 2015
  5. 1 2 SDM Mag Dean Drako Expands Security Portfolio With Acquisition of Cobalt AI Jun 4, 2024
  6. ↑ CTAN "Archived copy". Archived from the original on 2013-08-25. Retrieved 2013-09-02.{{cite web}}: CS1 maint: archived copy as title (link)
  7. ↑ Texas Business Minds Austin: Eagle Eye Networks President & CEO Dean Drako retrieved 7.19.2024
  8. ↑ Security Informed Dean Drako retrieved 7.19.24
  9. ↑ US Patent Collection database search November 2021
  10. ↑ EDN DAI Reorganizes for Next Stage Growth 7.17.97
  11. ↑ EDN Cadence Buy Boosts System-On-Chip Design Verification Feb 8, 1999
  12. ↑ EETimes IC design management goes global 04.23.2007
  13. ↑ BizJournals IC Manage's CEO moves to Austin, will run local office September 17, 2012
  14. ↑ CTAN January 2013 Archived 2013-08-25 at the Wayback Machine
  15. ↑ Deepchip: How Dean Drako's 1/2 billion dollar "side hobby" might change EDA August 2012
  16. ↑ Garvey, Martin J. (April 18, 2005). "Barracuda Rolls Out Spyware-Blocking Appliance". InformationWeek . Archived from the original on 2012-09-12. Retrieved June 12, 2024.
  17. ↑ IT & Security Portal Barracuda Networks Launches Barracuda Load Balancer Archived 2010-03-23 at the Wayback Machine
  18. ↑ Reseller News November 2007 Archived 2014-07-27 at the Wayback Machine
  19. ↑ Enterprise Networking Planet: Barracuda Launches CudaTel PBX August 2009
  20. ↑ SCMagazine Barracuda Networks buys NetContinuum Archived 2015-09-08 at the Wayback Machine
  21. ↑ eweek Barracuda Networks Buys into Data Backup Business
  22. ↑ Eweek Barracuda Networks Breaks into SSL VPN Space
  23. ↑ PCWorld Backup Merger Unites Barracuda, Yosemite
  24. ↑ Silicon Valley Business Journal Barracuda Networks takes controlling interest in Phion
  25. ↑ Atlanta Business Chronicle Barracuda buys Purewire Inc.
  26. ↑ Barracuda Open Source Community Retrieved 2012 Archived 2014-07-07 at the Wayback Machine
  27. ↑ Business Insider The 25 Best Tech Companies To Work For In 2011
  28. ↑ CRN Former Barracuda Networks CEO Acquires Cloud Access Control Company For $50M
  29. ↑ Bloomberg October 2012
  30. ↑ CRN Barracuda CEO Resigns
  31. ↑ Wall Street Journal Venture Capital Serial Entrepreneur and Ex-Barracuda CEO Launches Eagle Eye Networks to Take Video to the Cloud January 21, 2014
  32. ↑ MarketWatch Startup puts video surveillance in the cloud Jan 21, 2014
  33. ↑ The Wall Street Journal Barracuda Networks Co-Founder Launches Video Surveillance Startup Jan 2014
  34. ↑ MarketWatch Startup puts video surveillance in the cloud Jan 2014
  35. ↑ Security Info Watch Real words or buzzwords? True Cloud Sept 17, 2017
  36. ↑ Venture Beat Michael Dell is funding this company to move surveillance cameras onto the cloud July 31, 2014
  37. ↑ BizJournals Surveillance startup Eagle Eye Networks raises $40M from Accel to expand AI applications Oct 28, 2020
  38. ↑ TechCrunch Eagle Eye Networks and Brivo raise $192M in a joint round to boost cloud security business. May 17, 2023
  39. ↑ Austin Inno Eagle Eye Networks Named Fastest Growing Video Surveillance Company by Deloitte November 7, 2019
  40. ↑ Security Sales & Integration Eagle Eye Networks Named Fastest Growing Video Surveillance Company by Deloitte November 19, 2020
  41. ↑ Security Sales & Integration Deloitte Names Eagle Eye Networks Fastest Growing Video Surveillance Company for 3rd Consecutive Year November 23, 2021
  42. ↑ Deloitte Technology Fast 500 Rankings 2023 retrieved 7.17.24
  43. ↑ Security Info Watch Brivo and Eagle Eye Networks Complete Long-Anticipated Merger, Creating the Physical Security Industry’s Largest AI-Native Cloud Platform retrieved 7.17.24
  44. ↑ Channel Futures Eagle Eye's Dean Drako Grabs Brivo In $50 Million Deal June 11, 2015
  45. ↑ Security Info Watch Brivo acquired by Eagle Eye Networks Founder Dean Drako for $50M June 11, 2015
  46. ↑ The Robot Report What’s Behind the Acquisition of Cobalt Robotics by Dean Drako June 5, 2024
  47. ↑ Security Systems News Brivo and Eagle Eye Networks merge to create global cloud-native security company December 29, 2025
  48. ↑ Security Sales & Integration Brivo Receives $75M Credit Facility From Runway Growth Capital. November 8, 2022
  49. ↑ TechCrunch Eagle Eye Networks and Brivo raise $192M in a joint round to boost cloud security business. May 17, 2023
  50. ↑ "Leadership - Drako Motors Inc". Archived from the original on 2016-09-11. Retrieved 2016-09-07.
  51. ↑ ”Drako Motors Debuts Company and Introduces Drako DriveOS Platform for Electric Sports Cars”
  52. ↑ "The Latest EV Startup Promises a 206-MPH Four-Seater With 6490 Lb-Ft of Torque". Road & Track. 20 June 2019. Retrieved 2019-06-25.
  53. ↑ "Another EV startup is introducing a sports car with over 1,000 horsepower". Autoblog. 20 June 2019. Retrieved 2019-06-25.
  54. ↑ "Barracuda Networks founder plans to unveil electric 'supercar' this summer". www.bizjournals.com. Retrieved 2019-06-25.
  55. ↑ "The Drako GTE electric supercar allegedly boasts 6,491 lb.-ft. of torque". Driving. 2019-06-23. Retrieved 2019-06-25.
  56. ↑ Automobile Mag Automobile's 20 Best Car Stories of the Year
  57. ↑ Inside Evs See All The Slick And Wild EVs Revealed In Pebble Beach.
  58. ↑ Car and Driver $290,000 Drako Dragon EV SUV Packs 2000 Horsepower, Gullwing Doors. Retrieved Dec 28, 2022
  59. ↑ MotorTrend 2,000-HP Drako Dragon Makes Case For Being Least-Hinged Electric SUV Ever. Retrieved Dec 28, 2022
  60. 1 2 "2015 IRS Form 990 for EIN 47-3017917, Permrecord Foundation" (PDF). 2016. Retrieved 2022-10-24.
  61. 1 2 3 4 "2019 IRS Form 990 for EIN 47-3017917, PermRecord Foundation" (PDF). 2020. Retrieved 2022-10-24.
  62. ↑ "Knowledge Base / Permanent Legacy Foundation / About Us / Brand Assets". 2022-10-14. Retrieved 2022-10-24.
  63. ↑ Ernst & Young Entrepreneur of the Year Hall of Fame
  64. ↑ SP&T News: Dean Drako recognized with Entrepreneur Of The Year Gulf South Award 2024-06-19
  65. ↑ Security Systems News: Goldman Sachs names Eagle Eye Networks founder one of '100 Most Intriguing Entrepreneurs of 2014' Oct 2014
  66. ↑ Michigan Engineering Advisory Board members
  67. ↑ Commencement Speaker University of Michigan Engineering graduation speakers. Retrieved 2024-07-16.
  68. ↑ Berkeley Engineering Channel Retrieved May 2014
  69. ↑ Richard Newton Distinguish Lectures Retrieved July 16, 2024
  70. ↑ Kathryn Kranen elected chair of EDA Consortium EETimes 2012-06-01
  71. ↑ Gale Academic: EDA Consortium Elects Officers and Board Members 2014-06-09
  72. ↑ EDA Cafe: Electronic System Design Alliance Elects Board of Directors to Two-Year Term 2016-05-25
  73. ↑ Semi: ESD Alliance Elects 10-Member Governing Council 2019-05-08
  74. ↑ 3D in Cities: ESD Alliance Names 10-Member Governing Council to Two-Year Term 2021-05-20
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