Founders of promiseQ, Elias Kardel and Tolga Ermis | Image credit: promiseQ
Berlin-based promiseQ, a SaaS startup developing an AI-based technology to reduce CCTV false alarms, has announced that it has raised six-figure funding from Axel Springer and Porsche-backed APX and other business angels.
The funding round happened earlier this year. Business angels supporting the company include René Helbig, former CTO of Securitas Germany and the current owner of WSD Permanent Security GmbH.
The company claims that its technology, which uses AI and human-in-the-loop analysis, reduces 95 per cent of all false alerts in CCTV video surveillance.
Studies conducted by the Center for Problem-Oriented Policing at Arizona State University reveal that 94 to 98 per cent of all video surveillance alarm calls are false. The past year also saw a historical peak in the number of CCTV systems in use across the globe. But despite developments in CCTV technology, false warnings from these sensors are wasting billions of dollars in government money and commercial income.
promiseQ’s unique detection mechanism
Threat Detect, promiseQ’s main product, is a hybrid artificial intelligence (AI) technology that eliminates false alerts that jam security networks and slow emergency response times. The digital solution removes the need for expensive and time-consuming central monitoring to provide users with complete control of their CCTV alarms from their computers.
The false alarm filter can access a worldwide network of experts standing by to check alerts under exceptional circumstances. Before its release, promiseQ was tested in certified pilot applications, where it successfully distinguished between false alarms and actual threats 95 per cent of the time. The B2B SaaS solution is now being utilised by the International Security Group and WSD Permanent Security with great success.
Tolga Ermis, Co-Founder & CEO of promiseQ, says, “False alarms are one of the main problems facing emergency responders, law enforcement, security personnel, and others tasked with protecting property and keeping people safe. False alarms are also a massive drain on businesses’ finances. With promise Q, we are providing an innovative solution to this and as a result are reducing client security costs by up to 80 per cent. Threat Detect is an ally to video surveillance operators around the world. We are now planning to raise a seed funding round to expand promiseQ’s services throughout Germany and beyond.”
Fund utilisation
promiseQ mentions in a press release that the raised funds will enable it to pursue its expansion plans. Since its founding in 2021, promiseQ has gained customers in the German security and construction sectors.
The company also mentions that after an outstanding 2022, promiseQ was asked to present its Threat Detect product at SXSW in Austin, Texas, and VivaTech in Paris, France.
Elias Kardel, Co-Founder & CTO of promiseQ, says, “False alarms desensitise safety systems, waste resources, and dilute human reactions to real-life security threats. We’re in the business of changing that. promiseQ’s customers can boost their ability to manage threats effectively while cutting costs related to false alarms. Threat Detect is scalable to video surveillance systems worldwide. We believe our product can positively influence the security industry as a whole in the coming years. As a next step, we will continue to closely focus on the needs of our customers and will further develop our software platform to manage all camera-related monitoring centre tasks.”
About promiseQ
PromiseQ was founded in 2021 by Elias Kardel and Tolga Ermis. The co-founders had previously worked at HELLA Aglaia, a Volkswagen division specialising in automotive computer vision.
The two discovered the advantages of combining AI with human verification in real-time via their work in the automotive business. They began looking into the benefits of human-in-the-loop services for quality assurance and security, ultimately leading to Threat Detect’s creation.
The company operates with 17 employees based in Berlin, Germany. Its core aim is to reduce the number of unwarranted alerts generated by IP cameras, making them useful for video surveillance businesses and monitoring facilities.
About APX
Backed by Axel Springer, a media and technology corporation, and car manufacturer Porsche, Berlin-based APX supports and works with Europe’s and beyond’s most ambitious pre-seed entrepreneurs, frequently as their first investment.
The firm was launched in 2018, after the Axel Springer Plug and Play Accelerator. The accelerator was the first investor in more than 100 firms between 2013 and 2017, including financial unicorn N26.
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