Irisity Awarded 5th Year Renewal of Perimeter Security Contract

Gothenburg, Sweden - November 15th, 2024 - Irisity AB (publ), a provider of AI-driven video data management software, reports a renewal of a perimeter security contract with a UK-based home appliance manufacturer. It is an Annual Recurring Revenue (ARR) contract valued at more than MSEK 1.7, marking the fifth year of delivering a perimeter security SaaS deployment in partnership with a UK-based integration partner.

The contract began in November 2020, with yearly renewals. From an initial deployment of six cameras, the project continued to grow, expanding to 661 cameras by December 2023. The customer utilizes IRIS+ Enterprise as a Service, which is integrated with their Milestone XProtect video management system. This project encompasses a range of sites including commercial offices, stores, logistics centers and private residences. The deployment involves monitoring many cameras across multiple locations centralized at a Security Operations Center (SOC).

Irisity'sIRIS+ AI Open Platformeffectivelyreducesfalse positivesecurity eventsincluding those causedbyanimalsroamingwithinthe secured perimeter.The systemis adept atdistinguishingbetween animals and peopleusing either thermal or standard CCTV cameras, enabling security operators toconcentrate onandrespond togenuinesecurity issues

For further information, please contact:

Keven Marier, CEO, Irisity AB, +46 771 41 11 00, keven.marier@irisity.com.

About Irisity

Irisity's AI Open Platform enhances any camera and video management system by integrating a choice of advanced AI and video metadata management featuring hybrid architecture, built-in anonymization, and flexible deployment (on-premises, cloud, or hybrid). Globally trusted in over 3000 locations, our platform delivers real-time, efficient, and precise data, augmenting human decisions to improve safety, operational efficiency and organizational intelligence.

The Irisity AB (publ) share is listed on Nasdaq First North Growth Market, with the ticker IRIS, the Company's Certified Adviser is Carnegie Investment Bank AB.

https://irisity.com

Advisors

Irisity has mandated Penser by Carnegie, Carnegie Investment Bank AB (publ) and Advokatfirman Vinge KB as financial and legal advisors respectively in connection with the Rights Issue.

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Irisity Awarded 5th Year Renewal of Perimeter Security Contract in the UK