OnsiteIQ Raises $14M in Series B Funding
Summary
The round was led by existing investor Vertical Venture Partners — joined by a number of its Limited Partners — with additional participation from real estate technology VC RET Ventures as well as Interplay VC. Founded in 2017 by Ardalan Khosrowpour, OnsiteIQ helps real estate investors from across the industry improve job site transparency and manage risk throughout their portfolio of development projects. Its network of ‘capture specialists’ regularly walks its clients’ projects to capture 100% of the job site with 360-degree videos, which are then automatically mapped to each project’s floor plans. In doing so, OnsiteIQ creates an objective, consistent, and comprehensive record of all of the firm’s active projects, which users can instantly access and monitor from any device. The platform analyzes this visual data and leverages artificial intelligence to track progress across 18 major milestones, provide status updates, identify patterns of inactivity to predict potential delays and create trend reports across an entire portfolio.
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