Crosspoint Capital Partners (Crosspoint), a private equity firm focused on the cybersecurity, privacy and infrastructure software markets, has made an investment in Everseen, a specialist in AI-powered computer vision software. Terms of the deal have not been disclosed.
Crosspoint Capital Partners (Crosspoint), a private equity firm focused on the cybersecurity, privacy and infrastructure software markets, has made an investment in Everseen, a specialist in AI-powered computer vision software. Terms of the deal have not been disclosed.
Everseen’s technology brings patented AI-powered computer vision to core business processes. The technology has achieved critical mass in the Retail sector across processes such as self-checkout and inventory management. Everseen’s solutions have the highest accuracy in the market and improve retailers’ margins by up to 20 per cent by reducing shrinkage at checkout and improving operations throughout the store.
“We are thrilled to have the support of Crosspoint. Their partnership will help expand our network of customers and partners, and prepare Everseen for its next stage of growth,” says Alan O’Herlihy, Everseen Founder and CEO. “Crosspoint brings a wealth of experience and success in infrastructure AI that we expect will open huge possibilities for Everseen. Most importantly, Everseen and Crosspoint share a commitment to responsible and ethical AI and our relentless drive to push the boundaries of innovation.”
“We are excited to be partnering with Alan and the Everseen team to expand their impact across industries and geographies. Wherever there is a process system, there is an opportunity to improve it – and Everseen is perfectly positioned to do just that,” says Greg Clark, Managing Partner of Crosspoint. “Everseen’s technology is exactly the type of infrastructure that we expect will soon be everywhere. It is rare to find a company prepared to change the way business is done with immediate, measurable ROI. The sub-second decision support provided by Everseen’s solutions is truly impressive. Market and industry analysts are emphasising the emerging space of Hyperautomation, which uses AI technology to optimise performance and automate processes in real-time.”
Martin Higgins of Focus Capital Partners, the corporate finance advisor to Everseen since 2016, advised Everseen on the transaction.
