Dublin-based Everyangle has raised €2.7 million in a new funding round aimed at product development and ramping up both sales operations and employee headcount as the company gears up for further US and UK market expansion. The startup uses AI to analyse CCTV footage for “events of interest”.
If you’re not at home right now, chances are there’s a camera somewhere, somehow trained on you. Or perhaps you live in your own reality show, in which case, you’re on camera right now. Either way, with the number of CCTV cameras deployed globally set to double from 1 billion to 2 billion in the next 3 years, that’s enough video footage generated to sink the Titanic 10 times over. Or more. If footage could sink a ship. But I think you get where I’m going with this.
According to Everyangle, less than 0.1% of CCTV video captured is ever reviewed by a human being, meaning, that’s a lotta wasted power and storage just for nothing. And this is the waste that Everyangle is aiming to convert into meaningful metrics, particularly for brick-and-mortar retail stores, hospitality venues, and petrol/convenience/off-license shops.
Ranging from customer insights to loss prevention, to operations optimisations, Everyangle is angling to cover every, well, angle.
“With the number of CCTV cameras set to grow by 100% globally, our platform is becoming ever-more critical to ensuring retailers, hospitality venues, and convenience service stations can leverage at scale all of their video data to improve the in-store customer experience, reduce theft and fraud, and deliver real operational cost savings,” says Everyangle CEO David Owens.
The startup has forged partnerships with vendors including Cisco and SAP, global distributors such as TD Synnex, international reseller partners including CDW and WWT. End-user clients include Mulberry, Peloton, Oxford Industries, Joey’s Restaurant Group, Vinfast, and RaceTrac.