What is OpenSpace?
Founded in 2017 and headquartered in San Francisco, CA, OpenSpace leverages artificial intelligence to revolutionize construction site documentation. The company's innovative solution allows workers to capture job site progress visually by attaching 3D cameras to their hardhats. This technology provides a comprehensive and easily accessible record of construction projects, enhancing project management, collaboration, and quality control for the construction industry. OpenSpace's focus on AI-driven visual documentation positions it as a key player in the PropTech and construction technology landscape.
How much funding has OpenSpace raised?
OpenSpace has raised a total of $190.3M across 5 funding rounds:
Other Financing Round
$3.5M
Series A
$14M
Series B
$15.9M
Series C
$55M
Series D
$102M
Other Financing Round (2017): $3.5M with participation from Baidu Ventures, Foundation Capital, Goldcrest Investments, Lux Capital, AngelList, BoxGroup, and Sterling.VC
Series A (2019): $14M led by Suffolk Construction, WeWork, Lux Capital, Tishman Speyer, Jones Lang LaSalle, Goldcrest Capital, Zigg Capital, and Navitas Capital
Series B (2020): $15.9M supported by Menlo Ventures
Series C (2021): $55M featuring New World Development Company, Alkeon Capital Management, Navitas Capital, Zigg Capital, Menlo Ventures, PSP Capital Partners, Lux Capital, Green Point Partners, and JLL Spark
Series D (2022): $102M backed by Alkeon Capital Management, PSP Capital Partners, Green Point Partners, and Harmonic Growth Partners
Key Investors in OpenSpace
Menlo Ventures
Menlo Ventures is a venture capital firm that invests in early and growth-stage technology companies, often taking board roles and partnering with founders through multiple stages of scale.
New World Development Company
New World Development Company is a diversified Hong Kong-based property group with a broad focus on property development, investment, and operations across various asset classes.
Alkeon Capital Management
Alkeon Capital Management is an investment management firm founded in 2002, headquartered in New York, New York.
What's next for OpenSpace?
The substantial enterprise-level funding and recent strategic investment indicate OpenSpace is poised for significant scaling and further innovation. This capital infusion will likely fuel advancements in its AI capabilities, expand its market reach, and enhance its product offerings to meet the evolving demands of the construction industry. The company's trajectory suggests a strong focus on solidifying its position as a leader in construction technology through continued technological development and strategic partnerships.
See full OpenSpace company page
