ZeroEyes in Conshohocken has conducted one of the largest tech firm fundraisers so far this year, raising $53.3 million in Greater Philadelphia, writes Ryan Mulligan for Philadelphia Business Journal.
ZeroEyes’ technology uses artificial intelligence to detect active shooters, turning existing security cameras into a “force multiplier,” according to CEO Mike Lahiff.
When active shooters are detected, the software sends out alert responses. It has helped lead to about 10 arrests in the past year.
ZeroEyes, founded in 2018, plans to use the raised funds to continue expanding its footprint, headcount and reach of its technology.
The company has already doubled the size of its operations with 170 employees and plans to expand the workforce to 220 by year’s end.
Demand for its software has recently skyrocketed, with a 758 percent increase in enterprise customers between 2022 and 2023, and a 300 percent jump in commercial customers across Pennsylvania.
ZeroEyes’ revenue has also risen and is now in the tens of millions, with estimates it will double its sales in 2024.
Lahiff said he wants ZeroEyes’ software to be “the fire alarm of the future,” with every building in the nation having the gun detection software integrated.
Read more about the growth of ZeroEyes in the Philadelphia Business Journal.
