Shoplifting Prevention Technologies for Retailers
Summary
Shoplifting comes in many shapes and forms, from the broke pre-teen who is about to learn a valuable life lesson to a sophisticated gang of criminals that brazenly robs stores right in front of security cameras. For bricks-and-mortar stores, loss prevention usually means employing “undercover shoppers” who are actually security guards, or having humans actively watching cameras to identify theft in progress. Founded in 2006, New Jersey startup Agilence has taken in $29 million in funding so far to develop Retail 20/20, a store-level reporting solution that allows business owners to closely monitor day-to-day operations. So far, it has taken in $9.5 million in funding to develop a platform that utilizes face recognition technology to stop fraud as well as avoid security risks and public safety threats. To ensure that dishonest customers do not hit additional stores, FaceFirst offers a shared intelligence network containing the threats already detected in other establishments across the globe.
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