OpenSpace, a San Francisco, CA-based global leader in 360° jobsite capture and AI-powered analytics, announced a $102 million in Series D funding.
The round was led by PSP Growth, the venture and growth equity arm of PSP Partners, with participation from several new investors, including funds and accounts managed by BlackRock, as well as Alpaca VC, Fischer Homes, Harmonic Growth Partners, Mirae Asset, and Sino Group.
The round also includes significant participation from existing investors Alkeon Capital Management, GreenPoint Partners, JLL Spark, Lux Capital, Menlo Ventures, Navitas Capital, Nine Four Ventures, and Taronga Ventures.
This latest funding brings the total raised by OpenSpace in just the past year to $157 million and will be used to continue scaling the business and to develop additional AI-powered technologies.
Company: Open Space Labs, Inc.
Round: Series D
Funding Month: March 2022
Lead Investors: PSP Growth
Additional Investors: BlackRock, Alpaca VC, Fischer Homes, Harmonic Growth Partners, Mirae Asset, Sino Group, Alkeon Capital Management, GreenPoint Partners, JLL Spark, Lux Capital, Menlo Ventures, Navitas Capital, Nine Four Ventures, and Taronga Ventures
Company Website: https://www.openspace.ai/
Software Category: SaaS-driven site monitoring solution
About the Company: Founded in 2017, OpenSpace is an AI technology company on a mission to bring new levels of transparency and efficiency to construction and real estate. With our platform, builders automatically capture a complete visual record of the jobsite, providing a single source of truth that increases coordination, drives accountability, and simplifies dispute resolution. To date, our customers have used OpenSpace to capture more than seven billion square feet of imagery from active construction projects across thousands of sites in over seventy-five countries. OpenSpace has further expanded its product offerings beyond automated reality capture to include modules like ClearSight Progress Tracking, which uses artificial intelligence to automatically measure the percent of work completed for tasks like walls, mechanical, electrical, and more. It also introduced last year OpenSpace Basic, a freemium offering, and 3D Scan to capture with LiDAR-enabled iPhones and iPads.