viisights, a developer of unique behavioural recognition video analytics, has announced a US$ 10 million fundraising round, led by Israeli VC firm - Hive2040, with the participation of Migdal Insurance and existing investors, headed by Firstime Ventures. These funds will expand marketing efforts and product enhancements for viisights, in order to penetrate additional target markets, and initiate a new SaaS business model.
Asaf Birenzvieg, the Chief Executive Officer (CEO) and Co-Founder at viisights, said “We plan to offer customers, in multiple target markets, unique real-time automated behaviour recognition solutions that improve safety and security without requiring CAPEX investments. We anticipate that by the end of 2023 more than half of our company's revenue will come from SaaS services.”
