Turkish-founded employee health and safety platform Intenseye has raised $25 million in a Series A round. The startup uses computer vision to monitor the workplace and workforce for procedure violations, culminating in the reduction of workplace injuries. The new funding is expected to expand the company’s go-to-market strategy and further support its existing customer base of international manufacturers.
The economic cost of workplace accidents is staggering. According to the BMC, “the cost of work injuries and diseases in the United States is about $250 billion or 1.8% of Gross Domestic Product … and in the United Kingdom at £14 billion, about 1% of the GDP.”
With this in mind, Intenseye has developed a software package that uses computer vision and analyses video streams in order to flag any one of 35 unsafe acts and near misses, reporting them to health and safety teams all without revealing the identity of an employee.
In a rapidly changing warehousing environment, for example, Intenseye is in a prime position, as companies are now faced with new challenges, perhaps some that they’ve never experienced previously. And yes, I’m thinking about 32.8 second grocery delivery services, for example.
Intenseye’s services are currently employed by customers in over 40 cities across the globe in a number of “leading global industrial groups and Fortune 500 companies,” in the US, Europe, and Asia, and have logged over 1.8 million unsafe acts to date.
“The Bureau of Labor Statistics reports that one worker died every 99 minutes from a work-related injury in 2019. Our mission at Intenseye is to provide an anonymous solution that will help significantly decrease the death and injury rates in the workplace until they both reach zero,” says CEO Sercan Esen. “We want to continue bringing awareness to the safety of workers in the workplace, create a safer work environment for everyone, and be the eyes of what could have been previously unseen.”
Intenseye’s Series A round, one of the largest in the Turkish ecosystem, was led by Insight Partners with significant participation from existing investors Point Nine and Air Street Capital.
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