InnerSpace, a Toronto, Canada-based provider of a SaaS-based space utilization platform that leverages existing Wi-Fi infrastructure, raised $10 million CAD in Series A funding.

The round was led by Yaletown Partners, with previous round participants including BDC and IAF. The funds will be used to accelerate its product development roadmap and scale operations.

InnerSpace provides an anonymous workplace analytics solution that surfaces accurate and actionable data in real time based on a company’s existing infrastructure.

The platform is powered by its proprietary Wi-Fi-based RTLS (Real-Time Location system) that enables accurate data. Clients use this data to make decisions about their workplaces, such as whether to contract or expand their footprint, renovate, or reallocate resources. 

Company: InnerSpace Technology Inc.

Raised: $10.0M

Round: Series A

Funding Month: August 2023

Lead Investors: Yaletown Partners

Additional Investors: BDC and IAF

Company Website: https://www.innerspace.io/

Software Category: Workplace Analytics & Utilization

About the Company: InnerSpace is a workplace intelligence platform that helps large enterprises make smarter decisions about their use of corporate real estate. Its powerful technology leverages a company's existing Wi-Fi infrastructure to provide unrivaled, multi-dimensional data without all the cost and effort needed for traditional sensor-based systems. Built for privacy and security, the platform is GDPR compliant as well as SOC 2 and ISO 27001 certified. The API enables easy integration with existing customer systems such as BI, resource booking, building management, and more.

Source: https://www.finsmes.com/2023/08/innerspace-closes-10m-series-a-funding.html