Spot AI, a Burlingame, CA-based video intelligence firm raised $40M in Series B funding.
The spherical was led by Scale Venture Partners, with participation from Redpoint Ventures, Bessemer Venture Partners, StepStone Group, MVP Ventures, and Hypergrowth Partners.
The firm intends to us the funds to speed up enlargement of operations and its enterprise attain, in addition to to refine its options.
Led by CEO Tanuj Thapliyal, Spot AI supplies a system that mixes cloud and edge computing to make video footage actionable, so companies can immediately floor and resolve issues. Its Intelligent Video Recorder is powered by new silicon and new AI algorithms that permits responsive AI functions. Its cloud dashboard permits customers to entry, search and eat insights from their video footage. Businesses can select to make use of cameras they have already got, or get them totally free from Spot AI.
After its Fall 2021 launch, the corporate has grown 5x in income YoY, being deployed at hundreds of places throughout the U.S., and utilized by leaders throughout 17 totally different industries – from native companies to Fortune 500s. Customers vary from companies within the warehousing and healthcare verticals, to nonprofits and automobile washes.
The firm’s headquarters are in Burlingame, CA, with workplaces in San Francisco and Salt Lake City.