Insider Brief
- Origin AI, a leader in WiFi Sensing technology, has closed a $15.9 million Series B extension funding round, led by Verisure, to accelerate growth, expand its product line, and enhance customer support.
- The funding round saw participation from new investors like Verisure and Okinawa Electric Power Company, and returning investors such as Verizon Ventures and INSPiRE, indicating strong investor confidence in Origin AI’s vision and technology.
- The fresh investment will be used to expand Origin AI’s product offerings and commercial business, focusing on providing innovative WiFi Sensing solutions to a broader customer base, in alignment with Verisure’s goal of enhancing security offerings.
PRESS RELEASE — ROCKVILLE, Md./December 12, 2023 /PRNewswire/ — Origin AI™, a pioneering force in WiFi Sensing technology, today announced the successful close of its latest $15.9 million Series B extension round. With Verisure at the forefront as the lead investor, the company has secured significant capital to accelerate its growth, expand its product portfolio, and bolster its support for customer deliveries.
This funding round witnessed enthusiastic participation from notable new investors, including Verisure and Okinawa Electric Power Company, and follow-on investors, Verizon Ventures and INSPiRE, all of whom have expressed confidence in Origin’s vision and potential.
“We are immensely grateful for the trust and support from Verisure and all our investors,” stated Spencer Maid, CEO of Origin AI. “This funding empowers us to advance our mission of providing reliable, efficient, and innovative WiFi Sensing solutions to customers worldwide, while also expanding our product range and growing our customer base.”
The fresh capital will be strategically utilized to broaden the company’s product offerings and significantly grow its commercial business, thereby providing enhanced solutions to a wider customer base.
“We are extremely pleased to lead the investment in Origin AI,” said Cristina Rivas, Chief Technology Officer at Verisure. “We are impressed with the Origin AI team and their standard-setting technology. WiFi Sensing has an exciting potential to complement our security offering and support our mission to provide peace of mind to families and small businesses. As pioneers in our respective fields, we look forward to partnering with Origin AI across our geographical footprint”.
For more information about Origin AI and its ground-breaking WiFi Sensing technology, visit www.originwirelessai.com.
About Origin
Origin AI is a pioneer in transforming WiFi signals into innovative WiFi Sensing technology and category leader providing precise presence sensing solutions for Fortune 500 ISP, security, and IoT companies with applications and services in property security, smart automations and eldercare. Leveraging its patented and award-winning AI, Origin AI detects and verifies human presence, offering unparalleled accuracy and security. WiFi can do more. For more information about Origin AI and its groundbreaking technology, visit our website at www.originwirelessai.com.
About Verisure
Verisure is the leading European provider of professionally monitored security systems with 24/7 response services. We protect more than 5 million families and small businesses across 17 countries in Europe and Latin America. Our mission is to provide our customers peace of mind by protecting what matters most to them.
With over 35 years of insight, experience, and innovation, Verisure is known for category-creating marketing, sales excellence, innovative products and services, and customer-centricity.
Thanks to a strong focus on high quality, our customers are amongst the most satisfied and loyal in our industry. We have some of the strongest growth and retention rates globally in consumer-facing services, which demonstrates our exceptional service levels and strong value proposition to our customers.
For more information, please visit: www.verisure.com.
