Raise Follows 300% YoY Business Growth Driven by Demand for Proactive Innovative Solutions to Mitigate Surging U.S. Gun-Related Violence Epidemic
PHILADELPHIA, Aug. 24, 2023 /PRNewswire/ — ZeroEyes, the creators of the only AI-based gun detection video analytics platform that holds the US Department of Homeland Security SAFETY Act Designation, today announced it has secured $23 million in capital on the heels of dramatic growth surpassing 300% over the last year. The oversubscribed round was led by Octave Ventures, Alliance Holdings, and other existing investors.
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. The funds will be used to fuel continued growth with investments in R&D, channel partnership programs and business operations expansion.
The oversubscribed round further demonstrates the pressing need for innovative solutions to curb the gun-related violence epidemic in the United States. ZeroEyes is currently deployed in thousands of buildings for hundreds of customers in 37 states, with great momentum. 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.
“ZeroEyes has demonstrated a remarkable ability to execute on its important mission and we are excited about their future as they continue to achieve wide adoption and staggering growth,” said Michael Kim, Founder of Octave Ventures.
“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,” said Mike Lahiff, CEO and co-founder, ZeroEyes.
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.
About ZeroEyes
ZeroEyes delivers a proactive, human-verified AI gun detection software solution that integrates into existing digital security cameras and helps to mitigate mass shootings and gun-related violence by reducing response times, providing actionable intelligence with images and delivering clarity among chaos – ultimately saving lives. ZeroEyes’ patented solution has been recognized by the U.S. Department of Homeland Security (DHS) as a promising anti-terrorism technology and is the first video analytics technology to receive SAFETY Act DT&E Designation.
Founded by Navy SEALs, Special Operations military veterans, and technologists, ZeroEyes dispatches accurate and real-time actionable intelligence about the illegal brandishing of a gun near or in an occupied area or building, to local staff and law enforcement with an image of the shooter(s) and location of the threat, in as fast as 3 to 5 seconds from the moment the gun is detected. The ZeroEyes team also provides tech consulting, installation assistance and practice drills for active shooter events to enhance safety at schools, corporate and government facilities. Headquartered in the Greater Philadelphia area, the company’s affordable and effective gun detection solution has been adopted by the US Department of Defense, leading public K-12 school districts, colleges / universities, healthcare facilities, commercial property groups, manufacturing plants, Fortune 500 corporate campuses, shopping malls, big-box retail stores and more. Learn more about ZeroEyes at ZeroEyes.com.
SOURCE ZeroEyes
