Eversen, the Cork-based artificial intelligence start-up, is in the black after turning a profit last year on a surge in sales.
The recently filed financial statements for 2021 show that the company posted a profit of €1.2 million on sales of €40.4 million for the year. The sales figures mark an increase from 23.3 million euros in 2020, when the company was still making losses.
Eversen develops video camera technology with artificial intelligence for stationary retailers. The technician monitors self-service checkouts for scanning errors or identifies theft. It works with major grocery chains in the US, including Kroger’s.
Eversen received an undisclosed amount of funding from Crosspoint Capital Partners last year
“The US is currently our largest market and we also have customers in Europe, Latin America and Asia Pacific,” said Alan O’Herlihy, Chairman of the Board. “The majority of our customers are large companies, but we work with partners around the world who resell our technology to smaller retailers.”
Eversen received an undisclosed amount of funding from Crosspoint Capital Partners last year. Since then, the company has invested in a research and development office in Barcelona. It also has offices in Miami, New York, Romania and Serbia.
O’Herlihy declined to comment on whether the company is seeking further funding.
https://www.independent.ie/business/irish/corks-everseen-soars-into-the-black-after-major-revenue-boost-42192997.html Cork’s Eversen is back in the black after a big boost in sales