Coram AI, a leader in large language model (LLM)-powered video security, has successfully raised $13.8 million in a Series A funding round led by Battery Ventures. The round also saw participation from 8VC and Mosaic Ventures. With the funding, Coram aims to expand its product portfolio and bolster its engineering and go-to-market teams, furthering its mission to transform video security with AI-driven solutions.
- Funding and Leadership Expansion
- Battery Ventures, a global technology investment firm, spearheaded the funding round.
- Marcus Ryu, Battery Partner and former CEO of Guidewire Software, joins Coram’s board to support its growth journey.
- Innovative AI-Native Security Platform
- Coram’s platform leverages vision and language models to enable real-time video analysis.
- It integrates seamlessly with existing IP camera infrastructure, reducing customer overhead while delivering advanced functionality like virtual security guards and natural language search capabilities.
- Transforming Key Industries
- Education: Detects threats such as firearms on school premises and sends immediate alerts.
- Manufacturing: Analyzes footage to identify safety risks, like slip-and-fall incidents, enabling proactive measures.
- Logistics: Enhances operational efficiency by providing actionable insights from video data.
- Cutting-Edge Features
- Threat Detection: Real-time alerts for potential dangers.
- Smart Search: Natural language-powered queries to sift through hours of footage.
- License Plate and Face Recognition: Identifies known offenders and ensures secure environments.
- Operational Insights: Optimizes safety and efficiency through data-driven analytics.
- Market Opportunity
- With over 80 million security cameras in the U.S. (and 500+ million worldwide), Coram taps into the untapped potential of unwatched video footage.
- The platform provides a cost-effective and intuitive solution for businesses to unlock valuable insights.
Expert Commentary
Marcus Ryu of Battery Ventures emphasized the significance of Coram’s innovation:
“AI holds the key to unlocking value in the exabytes of unwatched video footage. Ashesh and Peter’s expertise in video processing and machine learning positions Coram to revolutionize the security market.”
Founders’ Vision
Ashesh Jain and Peter Ondruska bring deep expertise in AI and video processing, honed during their tenure at Lyft’s autonomous driving division. Jain highlighted their mission:
“With advancements in AI, cameras are evolving into intelligent systems that enhance public safety and operational efficiency in a privacy-sensitive manner.”
Coram AI’s groundbreaking platform is set to redefine video security and safety. Backed by significant funding and a visionary team, the company is well-positioned to address critical safety challenges across industries while unlocking the full potential of AI-driven video analysis.
