promiseQ, a company helping video security companies and monitoring centers to efficiently reduce false alarms caused by IP cameras, successfully secured a seven-figure investment from existing business angels (including Valentin Schmitt and Uli Schmitt) as well as venture capital investment firms ExtraVallis and APY Ventures (Bilişim Vadisi VCF).
This new financing round not only underscores promiseQ’s commitment to driving innovation in the security sector, but also represents a vote of confidence from industry-leading investors. The new funding will be used to expand the company’s range of products and services and continue its growth trajectory. This comes after raising a six-figure pre-seed investment round led by APX and security industry experts in 2022.
Tolga Ermis, Co-Founder & CEO of promiseQ, said: “promiseQ has rapidly evolved into a dynamic and trusted player within the security landscape. Our Video Intelligence Platform, combined with our Threat Filter AI capabilities, has empowered our clients to significantly enhance video surveillance accuracy, reduce operational costs, and drive productivity improvements. With this new investment, we’re poised to release new and exciting edge software technology in the form of the promiseQube. With the help of computer vision and generative AI, the promiseQube will provide our customers with new levels of security.”
Elias Kardel, Co-Founder & CTO of promiseQ, added: “I’m incredibly proud of the journey we’ve undertaken in contributing to the future of security technology. Our vision has always been to provide our clients with the most advanced solutions, and today, we see that vision coming to fruition. Together with our dedicated team and strategic partners, we’re excited to add to the innovation being created in the security industry.”
Founded in 2021, promiseQ is harnessing the power of artificial intelligence (AI), edge software and human review analysis to revolutionize video surveillance management and eliminate 95% of video surveillance (CCTV) false alarms. The company’s Video Intelligence Platform enables security companies and other businesses to centralize their video surveillance management and monitor cameras from any location.
promiseQ’s Video Intelligence Platform (VIP) is a centralized management platform that allows users to control and customize every aspect of their video surveillance network. The VIP comes equipped with an array of powerful features, making it the ultimate choice for businesses looking to enhance their security operations.
promiseQ’s flagship product, Threat Filter, is a hybrid AI system which eradicates false alarms that clog up security networks and stifle emergency response. The smart system allows users total video surveillance alarm oversight online without the reliance on labor-intensive and large, costly monitoring centers. The false alarm filter has the innovative advantage of being able to call on external global analysts ready to verify alarms in unprecedented situations. In certified pilot projects prior to launch, promiseQ achieved a 95% success rate in determining false alarms from genuine threats. The B2B Software-as-a-Service (SaaS) product is now being successfully used within the security industry, i.e. by International Security Group, WSD Permanent Security, and more.
Read the orginal article: https://www.eu-startups.com/2024/02/berlin-based-promiseq-scores-seven-figure-seed-funding-to-fuel-up-its-ai-based-video-surveillance-platform/
