OpenSpace, a US-based provider of imaging technology for the construction industry, has secured $55m in a series C round that included real estate services provider JLL and property conglomerate New World Development.
Alkeon Capital Management led the round with participation from JLL’s corporate venturing unit, JLL Spark, as well as New World, PSP Partners, GreenPoint Partners, Lux Capital, Menlo Ventures, Navitas Capital and Zigg Capital.
OpenSpace’s platform combines 360-degree camera devices with computer vision and artificial intelligence technology to create visual records of construction sites. It has raised more than $88m of funding since it was founded in 2017.
JLL Spark also took part in OpenSpace’s $15.9m series B round in August 2020. It was led by Menlo Ventures and included Nine Four Ventures, Taronga Group, Navitas Capital and Zigg Capital.
The company had received $14m in its series A round, which was led by Lux Capital in August 2019 and backed by JLL Spark, construction firm Suffolk Construction, co-working space operator WeWork, real estate developer Tishman Speyer, Navitas Capital, Zigg Capital and Goldcrest Capital.
Lux Capital had led a seed round of undisclosed size for the business in 2017 that also featured Goldcrest Capital, National Science Foundation, Foundation Capital, Sterling Capital, Box Group, AngelList and Comet Labs.