US-based crowd management technology developer Density raised $51m in a series C round on Tuesday backed by LPC Ventures, the corporate venture capital arm of real estate firm Lincoln Property Company.
Kleiner Perkins led the round, while 01 Advisors, Upfront Ventures, Founders Fund, Ludlow Ventures, Launch, DTA and assorted angel investors also contributed.
Founded in 2014, Density’s technology relies on proprietary depth sensors and algorithms to count the number of people in a physical space in real time. The platform does not capture personally identifiable information.
The company has seen increased demand from clients in areas such as office real estate, manufacturing and grocery stores as businesses look to reopen while ensuring social distancing measures can be enforced.
The money will support software and product development, the recruitment of additional sales staff and the scaling of Density’s platform. Ilya Fushman, a partner at Kleiner Perkins, will join the board of directors.
Eric Roseman, vice-president at LPC Ventures, said: “Given the current environment, helping tenants to understand how many people can safely occupy their spaces and buildings will be critical in managing, designing and improving the real estate of tomorrow.”
Density has now raised $74m in funding altogether, it said. Founders Fund led a $12m series B round in August 2018, after Upfront Ventures had led a $4m series A round with participation from Ludlow Ventures, Dawn Patrol and assorted angel investors in July 2016.
Density had collected $200,000 in seed funding from Ludlow Ventures and private backers at an unknown date.
