Everseen continues Crosspoint Capital partnership as it raises €65 million for computer vision AI platform
Everseen, a provider of AI powered computer vision and automation solutions, has raised a €65 million Series A follow on funding round led by Crosspoint Capital Partners.
The cash will be used to continue investment into the firm’s computer vision AI technology and help it scale.
Crosspoint made its original investment in Everseen in June 2021 based on the company’s “disruptive computer vision AI technology, strong customer relationships and its approach to ethical AI”.
It uses its Visual AI platform to provide the retail sector with end-to-end visibility across processes such as checkout, inventory management and supply chain.
“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,” says Alan O’Herlihy, Everseen Founder and CEO.
“Our 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 mainstream accessibility of AI and ML technology has emerged as one of the biggest trends over the last year and is being valued by the market,” says Greg Clark, Managing Partner at Crosspoint Capital.
“We believe computer vision AI represents significant value in transforming business processes moving forward, and Everseen has emerged as a clear leader in this space, providing immediate and measurable impact on the customer P&L.”
“There is a lot of hype on the impact and productivity gains of AI, and Everseen is a refreshing example of the business value of the AI revolution. We are excited to bring the power of Crosspoint to support its vision and help them scale into this significant market opportunity.”
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