OpenSpace Expands Strategic Capital with an Additional US$9M in Funding, Bringing Series D Total to US$111M
Summary
The investment comes from funds managed by existing investors Taronga Ventures and GreenPoint Partners, spotlighting OpenSpaces exciting opportunities to expand into new markets and use cases. "We see continued growth potential in OpenSpace, especially in regions like APAC and the Middle East, due to its ease of use, making it simple for customers to adopt and implement quickly," said Avi Naidu, co-founder and managing partner of Taronga Ventures. OpenSpace helps builders, owners, and other stakeholders in the construction and real estate industries save time and money by providing a trusted record of site status over the course of a project. OpenSpace makes the jobsite capture available in fifteen minutes on average, allowing project stakeholders to easily coordinate from any location without having to be onsite, thereby reducing miscommunications, saving travel time and costs, and providing a historical document of the building. With our platform, builders automatically capture a complete visual record of the jobsite, providing a single source of truth that increases coordination, drives accountability, and simplifies dispute resolution.