SafeGuard Team (Photo SafeGuard)
SafeGuard, an Israeli startup that offers an AI solution to automate decision-making in construction zones to predict worksite accidents, raised $8 million in a Series A round of funding round led by hi-tech investors Ron Zuckerman and Hillel Kobrinsky. And Floodlight, an Israeli startup offering a smart business account for e-commerce, s raised $6.4 million in a Seed round of funding led by Aleph and 83North, with contributions from former Shutterfly CEO and Amazon UK Managing Director Christopher North, Yuval Samet, CEO of RiseUp and former CPO of Klarna, and Juan Lobato, Founder and CEO of Ebury.
Founded in 2021 by CEO Noam Bernstein, Floodlight boasts it is reinventing the finance experience for e-commerce business owners. The company says that with Floodlight, “you can manage your money in the same place you manage your business.”
“The community of e-commerce entrepreneurs deserves better than they’re getting today. We want to give SME leaders the tools they need to grow their businesses with confidence,” said Noam Bernstein, Co-Founder and CEO at Floodlight. “By providing a seamless financial management solution, we help SMEs overcome their daily challenges while unlocking opportunities to set themselves up for long-term growth. They can better serve their international customers, employees, and providers, and ultimately create more value for their businesses.”
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“Our unified solution makes those challenges a breeze and creates an easily manageable and smart control center. This seed round is an exciting validation of our platform and its massive potential to meet the needs of unserved SMEs.”
Floodlight company pic
Founded in 2009, SafeGuard says it prevents accidents in real time using an automated decision support platform. In the US alone, 3 workers die every day, and every 3 minutes, a worker gets injured. The reason for that is that 90% of all construction accidents are due to human error. With their automated decision-support platform, SafeGuard has saved lives at over 2,745 construction sites.
SafeGuard is the only safety platform that collects data simultaneously from multiple sources such as cameras, drones, statistic analysis, open data, and big data, to automate on-site decision-making. The algorithms identify on-site human error patterns and use AI to predict the next accident. The predictive data is then converted into proactive measures that enforce good decision-making beforehand.
“Construction shouldn’t be the most dangerous job in America. Unfortunately, our field is focused on digitizing compliance rather than innovating decision-support tools, but the reality is that compliance does not assure safety,” said Izhak Paz, CEO and founder of SafeGuard. “Only an end-to-end solution that removes the human factor from the equation can prevent accidents and construction site shutdowns, the same is true for industries like manufacturing, maritime, or agriculture that suffer from similar issues,” Paz added.
