What is OpenSpace?
OpenSpace operates as a pivotal technology provider within the construction industry, specializing in visual intelligence platforms. The company empowers builders, contractors, and project stakeholders by transforming complex job site conditions into structured, searchable, and actionable digital assets. Utilizing advanced hardware such as 360-degree cameras and drones, the platform facilitates seamless documentation and analysis of construction progress.
By bridging the gap between physical site reality and digital project management, OpenSpace enhances visibility, improves coordination, and optimizes decision-making throughout the entire project lifecycle. Its market position is defined by its ability to integrate into existing workflows, providing a high-fidelity record of construction activities that reduces risk and increases operational efficiency for large-scale infrastructure and commercial 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 Foundation Capital, BoxGroup, Sterling.VC, Baidu Ventures, Lux Capital, AngelList, and Goldcrest Investments
Series A (2019): $14M led by Jones Lang LaSalle, Tishman Speyer, Navitas Capital, Lux Capital, Suffolk Construction, Goldcrest Capital, Zigg Capital, and WeWork
Series B (2020): $15.9M supported by Menlo Ventures
Series C (2021): $55M featuring New World Development Company, JLL Spark, Green Point Partners, Lux Capital, Navitas Capital, Zigg Capital, Alkeon Capital Management, Menlo Ventures, and PSP Capital Partners
Series D (2022): $102M backed by Alkeon Capital Management, PSP Capital Partners, Green Point Partners, and Harmonic Growth Partners
Key Investors in OpenSpace
Lux Capital
Lux Capital is a New York based venture capital firm that raises dedicated funds to invest in earlystage and growthstage companies at the intersection of science and technology, backing founders in frontier areas such as AI, robotics, space, defense, biotechnology, and advanced materials from seed through IPO or acquisition.
Navitas Capital
Navitas Capital is a venture capital firm that specializes in transformative technology and innovation, particularly in the built environment. The firm invests in founders who have visionary ideas to revolutionize various industries, including AI, digitization, sustainability, and fintech.
Menlo Ventures
Menlo Ventures is a Menlo Parkbased venture capital firm that raises dedicated funds and invests in early and growthstage technology companies across sectors such as enterprise software, consumer internet, fintech, infrastructure, and frontier tech.
What's next for OpenSpace?
With the successful closure of its latest funding round, OpenSpace is well-positioned to accelerate its product roadmap and expand its footprint in the international construction market. The strategic focus will likely center on deepening the integration of artificial intelligence to provide predictive analytics, further automating the documentation process, and scaling its enterprise-grade solutions to meet the demands of global developers and contractors.
As the construction sector continues its digital transformation, OpenSpace is poised to leverage its substantial capital reserves to solidify its status as an essential utility for modern project management. The company's ongoing commitment to innovation, supported by its diverse base of institutional investors, suggests a clear path toward sustained growth and long-term industry leadership.
