PHILADELPHIA, PA – August 24, 2023 -- ZeroEyes, creators of the only AI-based gun detection video analytics platform that holds the US Department of Homeland Security SAFETY Act designation, today announced it has secured $23 million in capital on the heels of dramatic growth surpassing 300% over the last year. The oversubscribed round was led by Octave Ventures, Alliance Holdings, and other existing investors.
Demand for the company’s AI gun detection and intelligent situational awareness software continues to accelerate as schools consider their safety readiness amid devastating statistics that show more than 200 reported school shootings in 2023 to date. The funds will be used to fuel continued growth with investments in R&D, channel partnership programs and business operations expansion.
The oversubscribed round further demonstrates the pressing need for innovative solutions to curb the gun-related violence epidemic in the United States. ZeroEyes is currently deployed in thousands of buildings for hundreds of customers in 37 states, with great momentum. Growth has been driven by demand from the original K-12 market, commercial sectors including retail, gaming and healthcare.
Additionally, new gains have been fueled through growing contracts with the U.S. Department of Defense through ZE Government Solutions (ZEGS), a wholly owned subsidiary of ZeroEyes that delivers advanced dual use AI, proactive threat detection and situational awareness of complex threats for U.S. national security.
“ZeroEyes has demonstrated a remarkable ability to execute on its important mission and we are excited about their future as they continue to achieve wide adoption and staggering growth,” said Michael Kim, Founder of Octave Ventures.
“These funds will allow us to continue scaling to meet surging demand as schools, houses of worship, businesses, communities and even the Federal government seek viable, affordable and most importantly proactive solutions to address the gun-related violence problem in our country,” said Mike Lahiff, CEO and co-founder, ZeroEyes.