Clearview AI has faced significant legal challenges since its 2020 debut, including lawsuits and fines for privacy violations related to scraping images from social media without consent. Despite these hurdles, the company continues to supply its technology to law enforcement agencies, with recent confirmation from the El Cerrito Police Department in California. Clearview reported $16 million in annual recurring revenue last year, primarily from local law enforcement contracts, and aims to triple revenue by 2025 through new federal partnerships. The company last raised $30 million in a Series B funding round in 2021, valuing it at $130 million.
Key takeaways:
- Hoan Ton-That, cofounder and former CEO of Clearview AI, has resigned and will remain a board member.
- Clearview AI appointed Hal Lambert and Richard Schwartz as co-CEOs, aiming to capitalize on opportunities under the Trump administration.
- Clearview AI has faced significant legal challenges and fines for privacy violations but continues to be used by law enforcement in the US.
- The company aims to triple its revenue by 2025, focusing on new federal partnerships as a key growth driver.