Everseen, a Cork, Ireland-based provider of AI-powered computer vision and hyper-automation solutions, announced today that it raised €65 million in a Series A follow-on funding.
The round was led by Crosspoint Capital Partners, which made its original investment in Everseen in June 2021.
The funding will be used to continue investment into Everseen’s computer vision AI technology and help the company scale.
Everseen’s technology brings patented AI-powered process-aware computer vision to core business challenges to improve business outcomes, with a particular focus on the retail sector.
“Crosspoint Capital has been a fantastic partner for the last two years, and we are excited to further our relationship as the Crosspoint team brings immense value in terms of operational excellence and sector expertise that will help us mature our business operations and deliver on our technology roadmap,” said Alan O’Herlihy, Everseen Founder and CEO. “Everseen’s computer vision AI platform has scaled the automation of scene-based processes with impact – in use across 6,000 major retail stores and connecting 80,000 point-of-sale devices. We have created generic process-aware technology that can be applied to a broad spectrum of business functions, leveraging our growing dataset.”
The company uses its Visual AI™ platform to empower the retail sector with end-to-end visibility across processes such as checkout, inventory management, and supply chain.
Company: Everseen Limited
Raised: €65.0M
Round: Series A
Funding Month: May 2023
Lead Investors: Crosspoint Capital Partners
Additional Investors:
Company Website: https://everseen.com/
Software Category: AI Vision Software
About the Company: Everseen is a developer of artificial intelligence-powered vision software designed to improve users' bottom line by minimizing shrinking and streamlining operations. The company provides its services in checkout lanes, in aisles, at the receiving door, and further into the supply chain, thereby helping clients deliver a better customer experience. Everseen’s computer vision AI technology is trusted by over half of the world’s top 15 retailers to mitigate and reduce shrink, streamline operations, and help deliver a better customer experience. The company has demonstrated the power of its AI in addressing the retail industry’s $100 billion a year inventory shrink problem1 by focusing on checkout intelligence and driving measurable ROI to its customers.
Source: https://www.businesswire.com/news/home/20230511005039/en/Crosspoint-Capital-Partners-Leads-Investment-in-Everseen%E2%80%99s-%E2%82%AC65-Million-Series-A-Funding