SAN FRANCISCO, Dec. 22, 2020 /PRNewswire/ -- VergeSense today announced it has closed a $12 million Series B investment led by Tola Capital. Its AI-driven platform allows enterprise companies to better understand and design their workplaces with key data-driven insights. VergeSense is used by the likes of Cisco, Shell, and five of the top 10 technology companies to better understand how their employees interact and move within the office via its analytics and sensor platform.
To date, VergeSense has raised $22.6M in total funding with previous investments by JLL Spark, Allegion Ventures, MetaProp, Y Combinator, Pathbreaker Ventures, and West Ventures. The injection of new capital will fuel the company's mission to help enterprise companies make informed decisions on how to create the most productive and safe working environments for their employees. Data and insights are focused on seating needs and capacity planning, office design, conference room and common area usage, and overall utilization of square footage.
"VergeSense is critical in the return to work and enables companies to break with the past as we prepare for the post-pandemic era," said Sheila Gulati, Managing Director at Tola Capital. "Our view is that VergeSense is ushering in a new era of real estate – one that is more technology enabled, more quantified, and more predictive, thus arming businesses with better tools to evaluate and plan their offices. This is all to the benefit of employees, giving them more safety, flexibility, and choice in their workplace."
Through its innovative software and sensor technology, VergeSense measures office usage and people count, which can detect overcrowding in certain areas of the workplace and also highlight which spaces are being used most in real-time. Delivering on its mission, VergeSense will use the new funding to accelerate research and product development, invest in strategic partnerships, and accelerate growth.
"VergeSense plays a crucial role in helping today's real estate managers answer critical questions in this very unpredictable time, iterate quickly, and model future space needs," said Eddie Kang, Tola Capital Principal and newly appointed VergeSense board member. "Additionally, given the employee experience is at the heart of a company, data is key in order for the C-Suite to feel confident in their real estate decisions."
Since the company's public launch in August 2017, VergeSense has experienced tremendous growth, adding recent customers across 29 countries including Fresenius, Telus, Shell, Rapid7, Cisco, Quicken Loans, and at Fortune 500 companies in the technology, consumer products, financial, life science and energy sectors. VergeSense collects millions of data points across over 40M square feet around the world everyday. Leading a new class of enterprise AI solutions, in the past 12 months VergeSense has doubled its ecosystem of strategic integrations, partnering with leading providers of workplace technology and strategy such as JLL Technologies, iOffice, Schneider Electric, Comfy, RICOH, SpaceIQ, and more.
"As companies evaluate their workplace strategy and embrace flexible work environments for their employees, data to measure and validate those decisions will be more important than ever," said Dan Ryan, co-founder and CEO of VergeSense. "We are excited to team up with Tola Capital to accelerate our investment in global go-to-market and strategic partnerships to continue delighting our customers with the leading workplace analytics platform for real estate and employee experience leaders."
VergeSense plans to double headcount in 2021 and is hiring across all departments. Positions can either be remote or based in one of VergeSense's office locations, including San Francisco, Mountain View, Boston, and Minneapolis. To apply, please visit https://vergesense.com.
VergeSense is the leading workplace occupancy data provider helping companies better understand their employees and improve office layout and design. Headquartered in San Francisco, the company offers AI-powered technologies that enable insight into the ways people use space. Trusted by global enterprises, VergeSense captures real-time data at scale through its sensors and analytics platform and empowers companies to reclaim underutilized space and enhance the workplace experience.
About Tola Capital
Tola Capital is a venture capital firm that focuses on the opportunity to invest in the next wave of enterprise software companies. The firm provides both capital and hands-on engagement to support the growth of its portfolio companies. Tola Capital targets software companies with essential products for enterprise customers, a solid existing customer base, a strong competitive position, and great talent and culture. Tola Capital invests globally and across multiple stages. Learn more about Tola http://www.tolacapital.com