What is OpenSpace?
OpenSpace operates at the intersection of construction technology and artificial intelligence, offering a sophisticated visual intelligence platform. The company provides software that enables contractors and project teams to capture and analyze real-world job site conditions using smartphones, 360-degree cameras, and drones. By converting visual documentation into structured, searchable, and actionable data, OpenSpace enhances visibility, coordination, and decision-making throughout the entire project lifecycle.
The platform serves as a critical tool for modernizing construction workflows, allowing stakeholders to monitor progress, identify potential issues, and maintain accountability in real-time. Its market position is reinforced by its ability to integrate seamlessly into existing construction management processes, making it an essential asset for large-scale enterprise projects.
How much funding has OpenSpace raised?
OpenSpace has raised a total of $190.3M across 5 funding rounds:
Other Financing Round
$3.5M
Series A
$14M
Series B
$15.9M
Series C
$55M
Series D
$102M
Other Financing Round (2017): $3.5M with participation from Baidu Ventures, Lux Capital, AngelList, Sterling.VC, Goldcrest Investments, Foundation Capital, and BoxGroup
Series A (2019): $14M led by Goldcrest Capital, Zigg Capital, Navitas Capital, WeWork, Lux Capital, Tishman Speyer, Suffolk Construction, and Jones Lang LaSalle
Series B (2020): $15.9M supported by Menlo Ventures
Series C (2021): $55M featuring New World Development Company, Lux Capital, Navitas Capital, JLL Spark, PSP Capital Partners, Zigg Capital, Menlo Ventures, Alkeon Capital Management, and Green Point Partners
Series D (2022): $102M backed by PSP Capital Partners, Alkeon Capital Management, Green Point Partners, and Harmonic Growth Partners
Key Investors in OpenSpace
Menlo Ventures
Menlo Ventures is a Menlo Park-based venture capital firm that invests in early and growth-stage technology companies across sectors such as enterprise software, fintech, and infrastructure.
PSP Capital Partners
PSP Partners is a diversified global private investment firm specializing in buyouts, venture capital, and real estate investments with a focus on high-growth technology companies.
Alkeon Capital Management
Alkeon Capital Management is a New York-based investment management firm that provides strategic capital to support the growth of innovative technology enterprises.
What's next for OpenSpace?
With the support of its latest strategic investment, OpenSpace is well-positioned to accelerate its product development and expand its global footprint. The company is expected to focus on deepening its AI capabilities to further automate site analysis and predictive modeling, which are critical for reducing project delays and cost overruns. As the construction industry continues to embrace digital transformation, OpenSpace is likely to leverage its strong investor network to forge deeper partnerships with global real estate developers and infrastructure firms.
The focus moving forward will be on scaling operations to meet the increasing demand for remote site management and data-driven project oversight. By maintaining its commitment to innovation and operational excellence, OpenSpace is poised to solidify its leadership in the PropTech ecosystem and drive long-term value for its stakeholders.
