Allvision Announces $3.2 Million Seed Investment
Funding to accelerate development of trusted high definition digital twins for mapping, mobility, and analytics applications
PITTSBURGH, Jan. 28, 2019 /PRNewswire/ -- Allvision, a geospatial analytics company providing insights and business intelligence to verticals such as infrastructure management, insurance, advertising and security, announced today $3.2 million in Series Seed funding raised. Lavrock Ventures was joined by The Robotics Hub, IDEA Fund Partners, and Sands Capital Ventures in funding the company, which is spearheaded by reality capture veterans. Funding will be used to accelerate product development, further hires and pursue additional go-to-market opportunities.
"Allvision's platform aggregates multiple sources of data and, through the power of machine learning and cloud computing, provides analysis tools to deliver actionable information -- giving my team the ability to make informed decisions in near real time, " said Karina Ricks, Director, Department of Mobility and Infrastructure, City of Pittsburgh, one of Allvision's most recent clients. "We are excited to be partnering with Allvision on a pilot addressing urban mobility challenges, starting with curb space management."
"The real world around us is constantly captured by a range of technologies including Light Detection and Ranging (LiDAR), HD spherical photo, and other sensor modalities. The spatial and temporal frequency of data acquisition only continues to increase." said Dr. Aaron Morris, co-founder and CEO of Allvision. "We are developing the tools to generate actionable insights from this flood of raw reality data, empowering infrastructure owners and operators across multiple verticals to minimize costs, improve services and allocate limited resources more effectively. Our mission is to turn 3D data into digital twins of everything visible from the sidewalk, road, or rail. We are fortunate to already be serving customers spanning a range of asset management needs in the transportation sector with specific applications for urban mobility, rail and road asset owners."
Allvision is capitalizing on the accessibility of autonomous vehicles in Pittsburgh as a prime method of proving out how fluidly sensors on equipped vehicles can provide valuable insights for asset managers in cities worldwide. "By taking massive amounts of data from both LiDAR and photos and combining them, real-world safety concerns can be diminished significantly," Morris added. He furthered with examples of missing signage, vegetation-encroached utility lines and ADA-accessible curbs in disrepair. "These issues can be spotted quickly, without someone reporting it, or worse, having a problem arise. The data is available now to make this a reality; we're developing the tools to make it accessible."
Jim Hunt, Managing Partner at Lavrock Ventures said "Allvision has been working diligently during the past year landing pilot customers which have driven the development of their data refinery and analytics platform. The founding team has spent their careers at the intersection of the digital and physical world. They created Allvision leveraging their strong backgrounds in developing solutions for capturing, maintaining and interrogating digital twins of physical assets and have multiple venture-backed exits amongst them. We are excited to lead the investment in Allvision and to work with a great investment syndicate."
Representatives from Allvision will be speaking and exhibiting (booth #205) at the International LiDAR Mapping Forum (ILMF) in Denver, Colorado from January 28th to January 30th, 2019. Allvision is hiring, come join our team! - www.allvision.io/careers.
About Allvision Allvision develops the platform to enable street level analytics at global scale. We provide the means to make sense of our dynamic environment to solve the world's most pressing problems from the human point of view. The founders have spent their careers at the intersection of the digital and physical worlds and are veterans of Autodesk and Bentley Systems. Allvision's HQ is in the East Liberty section of Pittsburgh, Pennsylvania. www.allvision.io.
About Lavrock Ventures Based outside Washington, D.C., Lavrock Ventures is an early-stage venture firm that invests in enterprise software, data, and cybersecurity businesses. Lavrock prefers commercially-focused companies, but is fond of opportunities with potential growth in and around the national security ecosystem. Lavrock partners with passionate entrepreneurs working to solve our most critical problems. For more information, visit www.lavrockvc.com.
Contact: Meg A. Watt, Marketing Manager, Allvision 412.346.8901 [email protected]
SOURCE Allvision
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