Using AI to improve operational efficiencies for security firms, promiseQ has just secured a six-figure investment round. The Berlin-based startup has now onboarded its first clients and is ramping up expansion plans.
It’s reported that CCTV numbers worldwide reached the mark of one billion devices last year. There have been big advancements in CCTV tech in recent years, facilitating the rapid rate at which they are being used, and ensuring that they are used properly – to make people safer.
However, it’s simultaneously reported that billions in taxpayer money and company revenue are being wasted due to operational inefficiencies – namely, false alerts emitted by the devices. For example, research by Arizona State University Center for Problem-Oriented Policing found that between 94-98% of alarm call-outs are false.
Founded in 2021, promiseQ wants to change this – and the team has just raised new funding to do so.
The funding
PromiseQ has announced a six-figure pre-seed investment round to scale its tech. The round, whilst not disclosed, is reported to be a high six-figure sum and was led by APX and security industry experts.
PromiseQ is a portfolio company of APX and has also received the backing of angel investors such as René Helbig, former CTO of Securitas Germany and owner of WSD Permanent Security GmbH.
Elias Kardel, Co-Founder & CTO of promiseQ: “False alarms desensitise safety systems, waste resources, and dilute human reactions to real-life security threats. We’re in the business of changing that. promiseQ’s customers can boost their ability to manage threats effectively while cutting costs related to false alarms. Threat Detect is scalable to video surveillance systems worldwide. We believe our product can positively influence the security industry as whole in the coming years. As a next step, we will continue to closely focus on the needs of our customers and will further develop our software platform to manage all camera-related monitoring centre tasks.”
Threat Detect
The Berlin-based startup’s flagship product is Threat Detect – a hybrid AI system which eradicates false alarms that clog up security networks and stifle emergency response. The digital system allows users total CCTV alarm oversight online without the reliance on labour-intensive and costly monitoring centres. Further, the false alarm filter has the advantage of being able to call on external global analysts ready to verify alarms in unprecedented situations.
In its pilot projects, promiseQ has achieved a 95% success rate in determining false alarms from genuine threats. It’s now being used within the security industry with the first clients already onboarded – International Security Group and WSD Permanent Security are among clients.
Founders Elias Kardel and Tolga Ermis are now bringing the startup into an expansion phase. Capping off a great first half of 2022, promiseQ was recently invited to SXSW in Austin, Texas, and VivaTech in Paris, France, to showcase Threat Detect as part of a German startup delegation.
Tolga Ermis, Co-Founder & CEO of promiseQ: “False alarms are one of the main problems facing emergency responders, law enforcement, security personnel and others tasked with protecting property and keeping people safe. False alarms are also a massive drain on finances for businesses. With promise Q, we are providing an innovative solution to this and as a result are reducing client security costs by up 1 / 2 to 80%. Threat Detect is an ally to video surveillance operators around the world. We are now planning to raise a seed funding round to expand promiseQ’s services throughout Germany and beyond.”
via https://www.AiUpNow.com
August 23, 2022 at 07:14AM by contact@bcurdy.com (Patricia Allen), Khareem Sudlow
