AI-based Video Surveillance Platform PromiseQ Scores Seed Funding from ExtraVallis and APY Ventures

Founded in 2021, promiseQ is harnessing the power of artificial intelligence (AI), edge software and human review analysis to revolutionize video surveillance management and eliminate 95% of video surveillance (CCTV) false alarms. The company’s Video Intelligence Platform enables security companies and other businesses to centralize their video surveillance management and monitor cameras from any location. New investment for further growth After raising a six-figure pre-seed investment round led by APX and security industry experts in 2022, promiseQ is excited to announce a new milestone in its growth journey.

The company has successfully secured a seven-figure investment from existing business angels (including Valentin Schmitt and Uli Schmitt) as well as prominent venture capital investment firms ExtraVallis and APY Ventures (Bilişim Vadisi VCF). This new financing round not only underscores promiseQ's commitment to driving innovation in the security sector, but also represents a vote of confidence from industry-leading investors. The new funding will be used to expand the company’s range of products and services and continue its growth trajectory.

The Video Intelligence Platform, a unique software solution promiseQ’s Video Intelligence Platform (VIP) is a centralized management platform that allows users to control and customize every aspect of their video surveillance network. The VIP comes equipped with an array of powerful features, making it the ultimate choice for businesses looking to enhance their security operations:

• Device Tree: Managing multiple sites and camera feeds has never been easier. The Device Tree feature enables businesses to streamline their surveillance efforts by centralizing control and access to various locations from a single dashboard.
• Smart Alarm List: The Video Intelligence Platform incorporates a robust Smart Alarm List tool, ensuring businesses stay one step ahead. This feature provides instant notifications of suspicious activities, enabling rapid response and threat mitigation.
• Privacy Zone Control: This feature allows businesses to set parameters and exclude specific areas from surveillance.
• Reference Picture Configuration: Businesses can create a snapshot of a specific area and set it as a reference image. The system then continuously compares this image to the live camera feed, alerting users to any deviations in real-time, further enhancing security.
• Camera Integrity Check: Security downtime caused by camera-related issues is now a thing of the past. The Camera Integrity Check feature enables regular health checks, ensuring optimal camera performance and minimizing potential disruptions to security measures.

"PromiseQ has rapidly evolved into a dynamic and trusted player within the security landscape," said Tolga Ermis, Co-Founder and CEO of promiseQ. "Our Video Intelligence Platform, combined with our Threat Filter AI capabilities, has empowered our clients to significantly enhance video surveillance accuracy, reduce operational costs, and drive productivity improvements. With this new investment, we're poised to release new and exciting edge software technology in the form of the promiseQube. With the help of computer vision and generative AI, the promiseQube will provide our customers with new levels of security.”

Threat Filter, reducing 95% of false alarms promiseQ’s flagship product, Threat Filter, is a hybrid AI system which eradicates false alarms that clog up security networks and stifle emergency response. The smart system allows users total video surveillance alarm oversight online without the reliance on labor-intensive and large, costly monitoring centers. The false alarm filter has the innovative advantage of being able to call on external global analysts ready to verify alarms in unprecedented situations. In certified pilot projects prior to launch, promiseQ achieved a 95% success rate in determining false alarms from genuine threats. The B2B Software-as-a-Service (SaaS) product is now being successfully used within the security industry, i.e. by International Security Group, WSD Permanent Security, and more.

“I'm incredibly proud of the journey we've undertaken in contributing to the future of security technology," said Elias Kardel, Co-Founder and CTO of promiseQ. "Our vision has always been to provide our clients with the most advanced solutions, and today, we see that vision coming to fruition. Together with our dedicated team and strategic partners, we're excited to add to the innovation being created in the security industry.”