ZeroEyes Secures $23M in Fundraising Round to Accelerate Customer Deployments
Funding round follows 300% YoY growth driven by demand for proactive solutions to mitigate U.S. gun-related violence epidemic.
PHILADELPHIA — AI-based gun detection video analytics platform ZeroEyes, which holds the U.S. Department of Homeland Security’s SAFETY Act designation, has secured $23 million in an oversubscribed funding round led by Octave Ventures, Alliance Holdings and other previous investors.
The capital investment comes on the heels of ZeroEyes’ year-over-year growth of 300%, according to the company announcement.
Demand for the company’s AI gun detection and intelligent situational awareness software continues to accelerate as schools consider their safety readiness amid devastating statistics that show more than 200 reported school shootings in 2023 to date, according to ZeroEyes’ announcement.
The funds will be used to “fuel continued growth with investments in R&D, channel partnership programs and business operations expansion,” the announcement says.
ZeroEyes is currently deployed in thousands of buildings for hundreds of customers in 37 states. Growth has been driven by demand from the original K-12 market, commercial sectors including retail, gaming and healthcare.
Additionally, new gains have been fueled through growing contracts with the U.S. Department of Defense through ZE Government Solutions (ZEGS), a wholly owned subsidiary of ZeroEyes that delivers advanced dual use AI, proactive threat detection and situational awareness of complex threats for U.S. national security.
“These funds will allow us to continue scaling to meet surging demand as schools, houses of worship, businesses, communities and even the Federal government seek viable, affordable and most importantly proactive solutions to address the gun-related violence problem in our country,” says Mike Lahiff, CEO and co-founder of ZeroEyes, in the company announcement.
ZeroEyes provides AI gun detection and intelligent situational awareness software that is layered onto existing digital security cameras. When an illegally brandished gun is identified, images are instantly shared with the ZeroEyes Operations Center (ZOC), staffed 24/7/365 by specially trained U.S. military and law enforcement veterans.
If these experts determine that the threat is valid, they dispatch alerts and actionable intelligence, including visual description, gun type and last known location, to local staff and law enforcement in as fast as 3 to 5 seconds from detection.
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