OpenSpace, the global leader in 360° construction photo
documentation and analysis, today announced a $55 million Series C funding
round, led by Alkeon Capital Management.
Additional participants in the round include PSP Partners,
GreenPoint Partners and New World Development, as well as returning investors
Lux Capital, Menlo Ventures, JLL Spark, Navitas Capital and Zigg Capital.
The funding comes as the company expands access to the
ClearSight Progress Tracking platform to its full customer base.
Over the past year, accelerated global adoption of
digitization and remote work has fueled growth for OpenSpace, which has seen
revenue triple, customer count increase by more than 150 percent, and customer
OpenSpace
OpenSpace announced that it has raised a $50 million Series C funding round.
A former commerce secretary invested as part of the round, led by hedge fund Alkeon Capital Management.
The construction tech company said it saw a 150% growth in customers last year.
OpenSpace CEO Jeevan Kalanithi wasn t planning to raise any more money after a fundraising effort last year netted the company $15.9 million.
The Series B round in July 2020 helped the company hone and expand the use of its software, which uses video to help contractors, architects, and developers track the progress of under-construction buildings remotely.
But then pandemic brought in even more customers who wanted to monitor construction sites from afar via photos, videos, and artificial intelligence.
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OpenSpace, a San Francisco, CA-based provider of a 360° construction photo documentation and analysis platform, raised $55M in Series C funding.
The round was led by Alkeon Capital Management. with participation from PSP Partners, GreenPoint Partners and New World Development, as well as returning investors Lux Capital, Menlo Ventures, JLL Spark, Navitas Capital and Zigg Capital.
The company intends to use the funds to further expand its ClearSight analytics suite into areas like safety management and quality control, as well as accelerating its international expansion.
Founded in 2017 by CEO Jeevan Kalanithi, OpenSpace provides solutions that combine simple 360° cameras, computer vision and AI to make it easy to capture a complete visual record of the jobsite, share it via the cloud and track progress. To date, customers have used the platform to capture more than four billion square feet of imagery from active construction projects across thousands of sites in over fifty c
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The leaders of Built Technologies, which sells software that helps construction sector players more efficiently track and move their money, say they will use their Series C funding from the Addition fund run by Lee Fixel and other investors to further scale their business. Fixel, who also funded Flipkart and has
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