MONTREAL, June 27, 2019 /CNW Telbec/ - Montreal-based C2RO today announced that it has secured CAD$2.25 Million in new financing in a round led by Fonds Innovexport, with participation from GCI Capital Inc., Harbor Street Ventures, Tandemlaunch, Ministère de l'économie et de l'innovation, and several angel investors in Canada, the U.S. and Europe. The funds will be used to accelerate the commercialization of C2RO's powerful enterprise grade cloud A.I. services.
"We led the investment in C2RO because it has an excellent execution team, a significantly expanding Tier1 customer base, and a formidable technology position in the field of real-time machine vision A.I.," said Richard Bordeleau, President at Fonds Innovexport. "C2RO will have a tremendous impact on the industry and we want to support them through this journey."
In June of 2018, the company introduced C2RO EngageTM, the world's first real-time cloud based facial recognition platform. In March of 2019, C2RO augmented it's A.I. services portfolio with PerceiveTM, a state of the art fully anonymous customer journey analysis platform and demographic classification system. EngageTM and PerceiveTM are the two key ingredients to enabling the transformation cycle that is taking place in the retail and commercial real estate industries toward highly personalized and data driven interactive smart environments. C2RO's product offerings are fully compliant with the most stringent privacy regulations, including the EU's General Data Protection Regulations (GDPR).
"We welcome the support of our new and existing shareholders, which will allow us to expand our current customer deployments and pursue new and exciting opportunities for our portfolio of A.I. products both here in North America and abroad," added Riccardo Badalone, President & CEO of C2RO. "I'm incredibly excited about our EngageTM and PerceiveTM products, which are proving themselves in the field and are allowing us to assist an increasing number of early adopters with their digital transformation objectives."
According to Market and Markets, the global market for A.I. analytics solutions in retail and commercial real estate will exceed $5B USD by 2022 and is growing at a stunning 40% CAGR. The growth is being fueled by global retail and commercial real estate brands that are blending digital and physical assets to provide consumers with increasingly frictionless and highly personalized experiences.
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SOURCE C2RO Inc.
For further information: Franco Forlini, SVP Business Operations, Franco.Forlini@c2ro.com, Tel: 1.514.941.2331