Intenseye Secures Record-breaking $64M Series B to Advance Its Mission of Transforming Workplace Safety With AI
“Our commitment to the ethical AI principle of privacy-by-design sets us apart, helping shield workers’ psychological safety while providing unparalleled protection for their physical safety,” added Esen.
Intenseye, the leader in AI-powered workplace safety solutions, secured $64 million in series B funding led by new investor Lightspeed Venture Partners with participation from existing investors Insight Partners, Point Nine, and Air Street Capital. This latest infusion of capital is the industry's largest ever and follows a historic year for Intenseye, marked by the proactive detection of tens of millions of workplace hazards and global growth and expansion across six continents.
Intenseye’s enterprise-ready computer vision AI platform delivers 24/7 visibility into unsafe acts and conditions that precede work-related injuries or illnesses — and that often go unnoticed via manual audits. Having alerted customers to more than 36 million such instances in 2023 alone, the solution is purpose-built to empower environmental health and safety (EHS) teams to drive changes that enhance efficiency, streamline compliance, and ultimately help prevent workplace incidents without compromising worker privacy.
With this latest round of funding, Intenseye will expand its technology ecosystem to unlock even greater value in customers’ existing infrastructure, further incorporate large language models (LLMs) and mobile support to optimize dozens of use cases, and continue to invest in privacy innovations – including an upcoming Gen AI video anonymization feature – that reaffirm its commitments to ethical AI and to fostering psychological safety for the workers it protects.
“The scope, scale, and costs of workplace incidents are escalating rapidly, underscoring the critical need for AI-driven solutions that help pinpoint and mitigate hazards while aligning to the highest standards of accuracy, privacy, and enterprise readiness,” said Sercan Esen, Intenseye CEO. “Intenseye isn't just a 'nice to have'— we’re proud to be at the forefront of a long-overdue transformation that is empowering EHS leaders to more effectively and efficiently protect their frontline teams. We’re honored that dozens of Fortune 500 innovators rely on Intenseye to transform workplace safety across their facilities.”
According to Miguel Ángel Aguilera Rodríguez, Digital & Technology Supply Chain Manager at HEINEKEN Mexico, "Through ongoing dedication to process enhancements and embracing cutting-edge technologies, we steadfastly uphold our commitment to providing safe and healthy work environments. Intenseye is a key ally in advancing these endeavors. By equipping us with real-time insight into leading indicators, the platform helps us drive proactive improvements that mitigate risks facing our frontline teams."
The urgent need to transform workplace safety
The International Labour Organization reports nearly 3 million people worldwide die from work-related accidents and diseases each year, and nearly 400 million worldwide suffer non-fatal work-related injuries each year. An American Industrial Hygiene Association study confirms the worldwide direct and indirect financial costs of workplace incidents is an estimated nearly $3 trillion per year; annual losses in the U.S. alone due to unplanned downtime are estimated at $50 billion.
Intenseye is the only computer vision AI-powered workplace safety solution provider to embed a full suite of highly advanced and completely irreversible privacy measures into its products as standard. Unlike other vendor offerings, Intenseye's solution guarantees the anonymity of the worker, stripping personally identifiable information from all video captured.
“Our commitment to the ethical AI principle of privacy-by-design sets us apart, helping shield workers’ psychological safety while providing unparalleled protection for their physical safety,” added Esen.
“We at Lightspeed have been deeply impressed with Sercan's and Serhat's (Serhat Cillidag, co-founder and CTO) unique insights as they drive industry transformation with the power of AI and computer vision,” said Alex Kayyal, Partner at Lightspeed. “Intenseye has quickly become a de facto 'must have' for health and safety leaders who depend on their platform on a daily basis – including some of the world's leading brands. The company's core AI platform addresses a fundamental pain point across a wide range of industries – we're so excited to partner with them and support their mission to transform workplace safety."
2023: A year for the books
Intenseye's recent growth milestones reinforce its unique position in the industry. The company's series B funding represents the largest-ever investment in AI-powered workplace safety innovations, bringing Intenseye's total funding to over $90 million and solidifying its status as the best-funded company in the space.
More specifically, in 2023 the company grew its global footprint by 125%. It forged industry-first partnerships with leading insurers, top cloud and EHS technology vendors, and other renowned software and hardware providers, positioning Intenseye as an essential component of digital transformation worldwide. Intenseye's momentum is further evidenced by its extensive reach and impact, spanning thousands of sites across over 30 industries in more than 25 countries to protect over 100,000 workers worldwide.
Additionally, Intenseye ramped up its NYC-based go-to-market executive team with key hires in 2023, including Matt Marshall as VP of sales, Sean Snyder as head of partnerships, Steve Iannucci as head of finance, and Chelsea Haynes as head of marketing.
“Intenseye is an exemplary AI-first company,” said Nathan Benaich, partner at Air Street Capital. “The team seized on a real-world problem that costs businesses hundreds of billions of dollars but is hiding in plain sight. By building on top of existing but under-utilized camera investments, Intenseye adds 24/7 safety intelligence that drives measurable change in the service of workforces worldwide. We’re proud to have supported Sercan and his team from day one of their journey.”
For more information on Intenseye’s AI-powered workplace safety solutions, visit www.intenseye.com/.
About Intenseye
Intenseye is on a mission to transform workplace safety with computer vision AI. By providing 24/7 visibility into unseen hazards, ergonomic risk factors, and leading indicator data, the company’s solutions empower environmental health and safety (EHS) leaders to drive proactive changes that reduce work-related injury and illness rates, improve compliance, and save lives. More than 100,000 workers at Fortune 500 companies and leading industrial groups in dozens of countries are protected by Intenseye. The company was founded in 2018, has a footprint on six continents, and is headquartered in New York City. To learn more, visit intenseye.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240227534107/en/