AnyVision plans to use the funding to expand into new markets. Here are the top-line bullets you need to know.
AnyVision, an AI-powered facial recognition technology company, has raised $235M in a Series C. The round drew participation from SoftBank Group, Eldridge, and Lightspeed Venture Partners, among others.
How’s the company performing?
- Israel-based AnyVision is a computer vision company that develops facial, body, and object recognition platforms. The company’s strategic partners include Schneider Electric, Honeywell, Boon Edam, Ambarella, and Nvidia, among others.
- AnyVision has over 200 employees globally and its revenue has increased 70% in the last 2 quarters compared to 2019.
- The company’s face recognition platform has made 17M detections and 12,000 recognitions.
Why does the market matter?
- The global facial recognition market is projected to grow at a CAGR of 14.8% to reach a value of $12.92B by 2027, according to Fortune Business Insights.
- The rising adoption of IoT and 5G technology, growing domestic and international security concerns, and the rise of remote work and contactless technology due to Covid-19 are driving the industry’s growth.