PromiseQ is a SaaS company located in Berlin. They recently announced that they received six-figure funding from APX, a Porsche-backed angel investment firm. Additionally, Axel Springer also provided funding for the AI-based CCTV alarm reduction SaaS firm.
René Helbig, former Chief Technology Officer of Securitas Germany and current owner of WSD Permanent Security GmbH, supported the company in an earlier funding round.
The company claims that their AI and human-in-the-loop technology reduces 95% of all false CCTV video alerts.
According to studies conducted by the Center for Problem-Oriented Policing at Arizona State University, 94% to 98% of CCTV alarm calls are false. In addition, there was an increase in the number of CCTV systems around the world in the previous year. However, despite improved CCTV technology, false warnings from these systems are wasting billions of dollars in public money and commercial income.
promiseQ’s unique detection mechanism
PromiseQ’s main product is Threat Detect; it’s a hybrid AI technology that eliminates false alarms in security networks. These false alarms cause jammed systems and slow emergency response times. By removing the need for expensive central monitoring, Threat Detect allows users to control their CCTV alarms from their computers.
Before it was released, promiseQ’s false alarm filter was tested in several pilot applications. This filter verified 95% of the time whether alarms were real threats or false alarms. It can access a network of experts standing by for exceptional circumstances to examine alerts. Additionally, promiseQ is being used by the International Security Group and WSD Permanent Security with great success thanks to its B2B SaaS solution.
PromiseQ is the name of an innovative service that was created by Tolga Ermis, CEO and co-founder. Promise Q provides a solution to the false alarm problem that plagues many public service workers. These false alarms are considered a fiscal drain on businesses since they have to pay for constant security checks. By using Promise Q, businesses are able to decrease their security costs by up to 80%. Tolga mentioned that he plans to raise a seed funding round in order to expand Promise Q throughout Germany and beyond. One of Promise Q’s products is Threat Detect; it’s an ally for video surveillance operators everywhere.
Fund Utilisation
According to a press release, promiseQ mentioned their raised funds would enable them to pursue their plans for expansion. The company gained customers in the German security and construction industries since its founding in 2021.
promiseQ mentions that they were asked to present their Threat Detect product at SXSW in Austin, Texas, VivaTech in Paris, France, and an impressive 2022.
Elias Kardel, co-founder and chief technology officer of promiseQ, says that false alarms desensitize safety systems and waste resources. They also reduce people’s reaction to legitimate security threats. promiseQ’s goal is to change that by helping customers improve their ability to manage threats while reducing expenses related to false alarms. promisesQ’s Threat Detect system is scalable for nearly all video surveillance systems around the world. In the future, we believe our product will have a positive impact on the security industry as a whole. Next, we’ll focus on the needs of our customers and continue to develop our software to manage all tasks related to camera monitoring centers.
About promiseQ
In 2021, Elias Kardel and Tolga Ermis founded PromiseQ after working at HELLA Aglaia, a Volkswagen subsidiary that specializes in automotive computer vision.
By working with the automotive industry, the two discovered the advantages of human-intelligence artificial intelligence in real time. This inspired them to look into human-in-the-loop services for quality assurance and security. This ultimately led to the creation of Threat Detect.
The company operates out of Berlin, Germany, with 17 employees. Their primary goal is to decrease the number of unwarranted alerts sent by IP cameras. By completing this goal, they hope to make IP cameras useful in video surveillance businesses and monitoring facilities.
About APX
APX is supported by Axel Springer, a tech and media corporation, as well as Porsche, a car manufacturer. This Berlin-based organization often makes participants’ first investment in pre-seed entrepreneurs that are ambitious within Europe and beyond.
N26 was the first investor in over 100 companies between 2013 and 2017. It was also the first investor through the Axel Springer Plug and Play Accelerator in 2018.
