VergeSense Raises $ 12 Million Series B For Workplace Analytics Service – TechCrunch
VergeSense, a startup that uses machine vision to help businesses better understand how their office space is used, today announced it has raised a $ 12 million Series B funding round led by Tola Capital.
Including the company’s $ 9 million Series A round, which it raised earlier this year, VergeSense has now raised a total of $ 22.6 million. Previous investors include JLL Spark, Allegion Ventures, MetaProp, Y Combinator, Pathbreaker Ventures and West Ventures.
Given the COVID-19 pandemic, it may not be surprising that VergeSense is experiencing high demand for its service and sensors. While the company has experienced strong growth since its launch in 2017, the pandemic is accelerating the shift to smarter office spaces. As Dan Ryan, CEO and co-founder of VergeSense told me, over the past few months the company has added new features to help businesses manage social distancing, for example, and to better understand where in a given office. they should intensify their cleaning. protocols.
It’s also becoming increasingly clear that even after getting the pandemic under control, office spaces – and office work – will be radically different. “It’s going to be kind of a hybrid working model, which before the pandemic was already happening – companies were experimenting with it – but now it’s supercharged,” Ryan said. “We never planned for any of this, but I think this is a great example of the possibilities you can help support when you have this smart infrastructure all around you that allows you to program almost everyone. physical. “
Another new feature the company launched this year allows its tools to check in when a seat is likely occupied, even though no one is currently there, by looking for backpacks and other signs that a office is used.
VergeSense currently has customers in 29 countries. These include Shell, Quicken Loans, Roche, Cisco and Telus. In total, the company’s tools currently monitor over 40 million square feet of space.
As Ryan told me, the company has seen a lot of investor interest this year and the team wanted to capitalize on current trends. “While we look forward to 21, especially now that this transition to an agile hybrid seat model is going to be turbocharged, we were preparing and planning for further growth there as well. So it was kind of an opportunistic opportunity to team up with Tola to help take it to the next level, ”said Ryan.
The company plans to use the new funding to continue working on its computer vision capabilities and hardware, but as Ryan noted, one of VergeSense’s focus areas in 2021 will also include new partnerships and integrations with office and room reservation tools, as well as building automation systems. To do this, it plans to double its workforce and hire in all departments.
VergeSense is obviously not the only company playing in this space. Swiss startup Locatee, for example, lifted an A-series round for its service earlier this year, although it uses network data to measure occupancy and not the kind of dedicated sensors VergeSense is developing. Other players include Density, Basking, and SteerPath.