Intenseye’s £25M Series A Funding Highlights The Growing Importance Of AI In EHS Tech
Intenseye’s £25M Series A Funding Highlights The Growing Importance Of AI In EHS Tech
Intenseye, a New York and Istanbul-based EHS software company, on September 21st 2021 raised £25M within a series A round of funding. Intenseye employs AI and seamless integration within an already existing infrastructure of cameras. Intenseye’s focus is predicated on AI-powered software alongside computer vision whilst also following a privacy first mindset. The use of Intenseye’s video analytics technology utilises algorithms to identify images that analyse safety compliance and hazard potential in the workplace. Intenseye’s innovative offering led to an investment from the private equity firm Insight Partners, which builds off of the initial investment from seed partners Point Nine and Air Street Capital. This investment will allow the vendor further expansion of its current portfolio which is used to protect over 25,000 workers in more than 30 countries throughout the Americas, Europe, Asia, and Africa. Its safety AI technology has analysed over 1 million hours of video which enabled the detection and real-time reporting of 142,000 unsafe acts. This has also led Intenseye to partner with AXA XL, a global commercial insurance firm, to benefit the manufacturing workplace safety industry.
The incorporation of AI technology in EHS software offers the ability to enable savings of both time and money through accident mitigation and analysis. Other vendors in the space such as Newmetrix, offer a similar suite, utilised by Skanska and AECOM, which leverages computer analytics and AI to provide predictive analytics, facilitate safety observations and safety monitoring. Intenseye’s software can provide over 30 EHS solutions from its AI video analytics. Intenseye’s software solution ranges from PPE detection, area and vehicle controls, housekeeping, behavioural safety, and pandemic controls. This aligns with the rising demand for advanced EHS analytics, with two-thirds (66%) of 301 EHS decision-makers in our latest global survey stating they have or are looking to expand the use of EHS analytics across their firm. In this growing market, with the rise of industry 4.0 and Intenseye’s ability to leverage already existing camera infrastructure, this solution can be valuable for EHS customers.
Data privacy has been a major barrier to the adoption of new EHS data-collecting technologies as end users have been hesitant to allow certain types and volumes of personal data to be collected. Intenseye have found a way to manage privacy concerns within their solution. With a large amount of data processed by Intenseye to provide 24/7 automated inspection with real-time notifications, employees may be concerned with how their data is processed and handled. Constant monitoring can also lead to employees feeling at unease, knowing they are constantly being supervised. Intenseye’s solution to the concern of privacy is the ability to anonymise individuals by ensuring personally identifiable information is not captured, so employees cannot be recognised. The software, as a result of this, can simultaneously maintain privacy while enabling firms to enhance their EHS processes . With the market ever-growing and increasing streams of data processing, a progressive attitude has to be taken towards data and privacy governance.
Intenseye’s solution coupled with their recent receival of funding ultimately validates the demand for EHS software which enables multi-risk profile evaluation and addresses privacy concerns. Customers and EHS professionals should begin to consider the importance of utilising such software solutions within their firms and begin putting AI-based analytics that does not compromise privacy on their technology roadmaps.
