OpenSpace, a San Francisco, CA-based global leader in 360° jobsite capture and AI-powered analytics, announced that it raised $9 million in additional strategic capital for its Series D round, bringing the total raised to US$111M.
The investment comes from funds managed by existing investors Taronga Ventures and GreenPoint Partners, spotlighting OpenSpace’s exciting opportunities to expand into new markets and use cases.
The investment will be used to continue scaling the business and developing additional AI-powered technologies.
In addition to this funding, OpenSpace has also welcomed experienced businessman Alan Henricks to the OpenSpace Board of Directors, as an independent board director.
Company: Open Space Labs, Inc.
Round: Series D ext.
Funding Month: Aug 2022
Lead Investors: Taronga Ventures and GreenPoint Partners
Company Website: https://www.openspace.ai/
Software Category: AI-powered analytics
About the Company: Founded in 2017, OpenSpace is an AI technology company on a mission to bring new levels of transparency to construction. The company combines simple off-the-shelf 360° cameras, computer vision, and AI to make it incredibly easy to capture a complete visual record of a jobsite, share it via the cloud, and track progress remotely. OpenSpace’s technology has expanded rapidly in the last year: the company has added more capture capabilities beyond 360° images, including 3D scans from LiDAR-powered iPhones and iPads. In addition, OpenSpace introduced ClearSight Progress Tracking: AI-powered trackers that can understand, classify and quantify what is in the image data, converting and mapping 360° images into quantities of materials, percent complete. Since OpenSpace’s founding in 2017, customers have used OpenSpace on more than 14,000 job sites to date, topping 10B square feet of jobsite imagery captured on the platform.