OpenSpace, a San Francisco, CA-based global leader in automated 360° photo documentation and analysis, raised $15.9M in Series B funding.
The round was led by Menlo Ventures with participation from Nine Four Ventures and Taronga Group, as well as returning investors Lux Capital, JLL Spark, Navitas Capital, and Zigg Capital. In conjunction with the funding, Menlo Ventures Partner Shawn Carolan will join the board.
The company intends to use the funds to meet demand for its remote construction technology and ClearSight analytics platform.
Founded in 2017 and led by Jeevan Kalanithi, CEO, OpenSpace provides solutions that combine 360° cameras, computer vision, and AI to make it easy to capture a complete visual record of a jobsite, share it via the cloud, and track progress remotely.
Builders attach a small 360° camera to their hardhat, mark their starting point on the OpenSpace app, and then walk the site as normal. OpenSpace’s software automatically handles imagery capture. After the data is uploaded, it organizes the images, pins them to the correct location on the floorplan, and stitches them together—with no additional manual input needed. Customers can virtually walk through a site using the latest imagery, see how sites have changed over time, add notes and change requests, compare site photos side-by-side with their BIM, and more.
Customers have used the platform to capture over a billion square feet of active construction projects across thousands of sites in dozens of countries. Construction sites around the world use OpenSpace for their documentation and analysis, with projects in 30 different countries. It is used by industry leaders including Capital One, JLL, Lee Kennedy, Suffolk, Tishman Speyer and more.