Philadelphia, PA - October 26, 2020 — ZeroEyes, the only AI-based platform focused solely on weapons detection, today announced that it has secured $1.5 million in funding, led by Grateful Investments with participation from Legion Capital, Backswing Ventures, Natoma Group, and angel investors, bringing the total amount raised to $4 million. The majority of the round was raised in March, and ZeroEyes will use the funds to propel its growth and its vision of stopping violent threats before they occur.
Founded by a team of former Navy SEALs and military veterans, ZeroEyes’ AI weapons detection solution is currently installed in schools, commercial buildings and government sites, with many more pilots underway. With this additional funding, ZeroEyes will further expand the adoption of its technology across the country, and enable the company to move to a larger, dedicated facility to demonstrate its platform to prospects, partners and customers.
“This year we’ve seen exponential interest in our technology, as we’ve piloted and validated our solution as a clear, cost-effective and proactive way to detect weapons, stop violent threats and keep people safe,” said Mike Lahiff, CEO of ZeroEyes. “With gun violence - particularly active shooter incidents - continuing to increase each year at alarming rates, the funding will enable us to accelerate our installations across a broad spectrum of customers, at scale.”
ZeroEyes’ AI weapons detection platform is one component of an organization’s multi-tiered security approach, and integrates with an organization’s existing camera systems and video analytics. If a visible gun is detected, an alert is initially sent to the ZeroEyes monitoring team, followed by notifications to local emergency dispatch and onsite security staff - a process which takes a mere three to five seconds. By seeing exactly where a threat is in real time, ZeroEyes closes the critical seconds between when a gun could be spotted to when it is fired, saving lives.
“Our focus is simple: work with early stage companies that have a sound business model and compelling purpose,” said Ted McCullough, Founding Partner at Grateful Investments. “The ZeroEyes team’s decades of combined military experience, and steadfast commitment to addressing the mass shooting tragedies that are far too commonplace today is a cause we are honored to support.”
“ZeroEyes’ growth is a testament to the caliber of the team, its unique and proprietary technology, and its real-world application to addressing a critical and sobering issue,” said Michael Viscuso, Managing Partner at Legion Capital Partners. “We look forward to ZeroEyes’ continual expansion in public venues across the country in the months and years to come.”
