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Everseen Raises €65M In Series A Seed Funding

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One in many novel technologies that has reshaped and shaping our world is the Artificial Intelligence. Artificial Intelligence which is the similitude or the replication of the natural or human intelligence in machines or digital form, was developed to meet the demands of time and augment human deficiencies.

Everseen is a Cork Ireland-based AI-powered computer vision and hyper-automation solution provider. It’s Visual AI™ platform to assist retail clients with end-to-end visibility across processes such as checkout, inventory management and supply chain. The idea is to reduce inventory shrinkage by focusing on checkout monitoring.

Everseen said its technology has been validated by positive customer testimonials from large global retail chains, strong business performance and the demonstrated value of sophisticated artificial intelligence at scale.

The company recently announced that it has raised €65 million in a Series A follow-on funding.
The round was led by Crosspoint Capital Partners, which made its original investment in Everseen in June 2021.The company said that the funding will be used to continue investment into Everseen’s computer vision AI technology and help the company scale.

Everseen’s technology brings patented AI-powered process-aware computer vision to core business challenges to improve business outcomes, with a particular focus on the retail sector.

“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,” said Alan O’Herlihy, Everseen Founder and CEO. “Everseen’s 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.”

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