Workplace Occupancy Data Company VergeSense Closes $12 Million In Series B

By Annie Baker ● January 1, 2021
  • VergeSense — a leading workplace occupancy data company — announced it has raised $12 million in Series B funding led by Tola Capital

VergeSense — a leading workplace occupancy data company — announced it has raised $12 million in Series B funding led by Tola Capital. Including this round of funding, VergeSense has raised $22.6 million with previous investments by JLL Spark, Allegion Ventures, MetaProp, Y Combinator, Pathbreaker Ventures, and West Ventures. 

The new round of funding 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. And 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.

Through its 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. And delivering on its mission, VergeSense will use the new funding to accelerate research and product development, invest in strategic partnerships, and accelerate growth.

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. And VergeSense collects millions of data points across over 40 million square feet around the world everyday. 

VergeSense plans to double headcount in 2021.

KEY QUOTES:

“VergeSense is critical in the return to work and enables companies to break with the past as we prepare for the post-pandemic era. 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.”

— Sheila Gulati, Managing Director at Tola Capital

“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. 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.”

— Eddie Kang, Tola Capital Principal and newly appointed VergeSense board member 

“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. 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.”

— Dan Ryan, co-founder and CEO of VergeSense