promiseQ, a Berlin, Germany-based SaaS startup developing an AI-based technology to reduce CCTV false alarms, has announced that it has raised six-figure funding from Axel Springer, Porsche-backed APX, and other business angels.
Business angels supporting the company include René Helbig, former CTO of Securitas Germany and the current owner of WSD Permanent Security GmbH.
The raised funds will enable it to pursue its expansion plans. Since its founding in 2021, promiseQ has gained customers in the German security and construction sectors.
"We are now planning to raise a seed funding round to expand promiseQ’s services throughout Germany and beyond." Co-Founder & CEO of promiseQ-Tolga Ermis
promiseQ offers a one-of-a-kind combination of cutting-edge AI and skilled crowd workers via a global platform. promiseQ claims that its technology quickly eliminates more than 95% of false alarms.
Company: promiseQ GmbH
Funding Month: Aug 2022
Lead Investors: Axel Springer
Additional Investors: René Helbig
Company Website: https://www.promiseq.com/
Software Category: AI-based False Alarm Detection CCTV
About the Company: Founded in 2021 by Tolga Ermis and Elias Kardel, promiseQ is a SaaS startup developing an AI-based technology to reduce CCTV false alarms that help video security companies and monitoring centers efficiently reduce false alarms caused by IP cameras. Threat Detect, promiseQ’s main product, is a hybrid artificial intelligence (AI) technology that eliminates false alerts that jam security networks and slow emergency response times. The digital solution removes the need for expensive and time-consuming central monitoring to provide users with complete control of their CCTV alarms from their computers. The B2B SaaS solution is now being utilized by the International Security Group and WSD Permanent Security with great success. The company operates with 17 employees based in Berlin, Germany. Its core aim is to reduce the number of unwarranted alerts generated by IP cameras, making them useful for video surveillance businesses and monitoring facilities.