intenseye, founded by Turkish entrepreneurs, received $64 million investment in Series B round

intenseye, the leader in artificial intelligence-supported occupational health and safety, received a record investment of $64 million. In 2023, when 36 million unsafe situations & behaviors were detected with intenseye technology in 25 countries, industry giants and Fortune 500 companies trusted intenseye in their occupational health and safety operations.

intenseye, a leader in artificial intelligence-supported occupational health and safety solutions, received an investment of $64 million in the Series B round led by existing investors Insight Partners, Point Nine and Air Street Capital and new investor Lightspeed Venture Partners.

Founded by Sercan Esen and Serhat Cillidag, intenseye aims to reduce workplace accidents and deaths of the world’s largest companies; it is an artificial intelligence-supported employee health and safety (EHS) software platform that it produces from scratch as a result of its own work.

This investment, which is the largest investment tour ever organized in the field of occupational health and safety technologies, came after a year full of success for intenseye. For intenseye, 2023 has been a year in which tens of millions of occupational health and safety risks were proactively identified and global growth occurred on six continents.

Suitable for use by large-scale businesses, the computer vision-based artificial intelligence platform makes occupational health and safety (OHS) risks visible 24/7 by providing leading indicators of unsafe situations and behaviors that are overlooked by manual inspections. In this way, businesses obtain important data about potential OHS risks before any work accident occurs. The platform, which detected more than 36 million risks in 2023 alone, is specially designed to increase the efficiency of occupational health and safety teams, facilitate compliance and minimize occupational health & safety risks while protecting employee privacy.

With this latest round of investment, intenseye will expand its technology ecosystem to unlock even greater value across customers’ existing infrastructure, and will develop large language models (LLMs) to detect more OSH risks and will continue to invest in innovative technologies for employee privacy, such as the Gen AI video anonymization technique. These developments reaffirm intenseye’s commitment to ethical artificial intelligence practices, employee privacy, and increasing the psychological safety of employees.

intenseye CEO Sercan Esen said;

“The scope, scale and costs of occupational health and safety risks are rapidly increasing, underscoring the critical need for AI-supported OSH solutions that operate with the highest accuracy, have proven privacy and suitability for large-scale businesses. intenseye does not offer a solution that can only be said as ‘it would be nice to have’. We are proud to be at the forefront of an overdue transformation in occupational health and safety culture, empowering OSH leaders to protect field workers more effectively and efficiently. It is truly an honor to know that leading companies in their field and Fortune 500 companies trust intenseye to transform occupational health and safety operations in their facilities.”

There is an urgent need for transformation in the field of occupational health and safety

The International Labor Organization states that approximately 3 million people worldwide die from work accidents and diseases every year; and states that approximately 400 million people suffer non-fatal injuries at work each year. A study by the American Industrial Hygiene Association estimated that the direct and indirect costs of occupational health and safety risks worldwide are approximately $3 trillion per year; this confirms that in the United States, downtime due to accidents in production is estimated at $50 billion.

intenseye is the only AI-powered OHS solution provider that embeds a full suite of highly advanced and completely irreversible data privacy measures into its products as standard. Unlike other OHS solutions, intenseye’s technology guarantees employee anonymity by removing all biometric data from all captured videos.

2023 — a unique year for intenseye

intenseye’s latest growth moves reinforce its unique position in the industry. The success of the Series B investment round represents the largest investment ever made in artificial intelligence-supported occupational health and safety technologies. This investment, which increases the company’s total financing to over $90 million, solidifies intenseye’s status as the best-financed company in its field.

In particular, the company increased its global presence by 125% in 2023. Establishing industry-first partnerships with leading insurance companies, leading cloud and OHS technology providers, and well-known software and hardware providers, intenseye has become an indispensable component of digital transformation worldwide. intenseye has achieved a tremendous acceleration in its growth rate, maintaining more than 100,000 employees in more than 30 industries in more than 25 countries, in thousands of facilities around the world.

In addition to all this, intenseye strengthened its New York-based go-to-market team with important recruitments in 2023. Intenseye’s leadership team includes Matt Marshall as vice president of sales, Sean Snyder to establish and manage business partnerships, Steve Iannucci as chief financial officer, and Chelsea Haynes to lead the marketing team.

intenseye is a computer vision-based artificial intelligence OHS platform. By connecting to existing cameras in facilities, it enables OHS leaders to see unseen risks and analyze workplaces 24/7, and supports OHS teams to proactively save lives with real-time leading OHS indicators. intenseye identifies and analyzes risks with more than 50 high-accuracy artificial intelligence OHS models, helping protect more than 100,000 employees for leading industry groups and Fortune 500 companies in more than 25 countries around the world.

Source: Egirisim / Prepared by Irem Yildiz

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button