Everseen raises over $70M for AI tech to spot potential retail theft

Variety
11-05-2023 | 06:30
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Everseen raises over $70M for AI tech to spot potential retail theft
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Everseen raises over $70M for AI tech to spot potential retail theft

In 2007, Alan O’Herlihy, who previously worked with large SAP installations as well as retail, set out to find a way to help retailers minimize “shrinkage,” or where a store has fewer items in stock than in its recorded inventory. He settled on computer vision as the solution to the problem, and founded a company, Everseen, to commercialize the technology.

Everseen — which uses computer vision to, among other things, attempt to prevent theft at self-checkout counters — today announced that it raised €65 million (~$71.32 million) in a Series A round led by Crosspoint Capital Partners, a previous investor in the startup. The new funds bring Ireland-based Everseen’s total raised to nearly $90 million, which O’Herlihy says is being put toward scaling the startup’s business with a “targeted” roadmap.
 

Everseen

Raises

Over

AI

Tech

Artificial Intelligence

Spot

Potential

Retail

Theft

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