Two Montgomery County companies have made the list of thirteen Philadelphia-area startups to watch in 2022, writes Kennedy Rose for The Business Journals.
Conshohocken-based ZeroEyes was founded in 2018. Its AI-based platform uses security systems its clients install and video analytics to detect firearms.
The startup managed to raise a $20.9 million Series A in August after expanding its business model from serving strictly K-12 and other education clients to also include corporate campuses and government sites. CEO of ZeroEyes Mike Lahiff has no plan to raise another venture capital round before the company decides to pursue an initial public offering. He believes there are other avenues to capitalization, such as debt structuring.
Meanwhile, Ambler-based Phenom, which was started eleven years ago, achieved unicorn status with a $1.37 billion valuation in 2021. The human resources technology firm managed to raise $100 million in a Series D round in April, reaching a total of $161 million in funds raised since its inception.
The company’s artificial intelligence-driven platform uses machine learning to streamline the hiring process from recruiters to candidates. This has put its product in high demand and helped the startup become one of Deloitte’s fastest-growing tech companies in 2021.
Read more about the two companies, ZeroEyes and Phenom, in The Business Journals.