Occuspace, a Los Angeles-based company that develops occupancy management technology, has raised $3.6 million in seed funding. The round was led by Okapi Venture Capital, with participation from Cove Fund, Shadow Ventures, and Hamilton Ventures.
The company will use the funds to expand its business development efforts and further penetrate the corporate office, multifamily, travel, government, and retail verticals. Occuspace's occupancy management solution helps customers measure and optimize the use of their physical spaces, improving utilization, making informed operational decisions, reducing real estate costs, and enhancing visitor experiences. The company's technology uses privacy-friendly IoT tracking technology and a consumer iOS and Android app called Waitz to monitor crowd levels in a given space in real time. Occuspace's customers include UC San Diego, UCLA, Columbia University, Purdue University, Boston College, and Baylor University.
"We are excited to partner with Okapi Venture Capital and other leading investors to help us accelerate our growth," said Nic Halverson, CEO of Occuspace. "This funding will enable us to expand our reach to new markets and help even more organizations improve the way they use their physical spaces." The company's sensors are self-installable and do not require any infrastructure changes. The sensors scan for Wi-Fi and Bluetooth activity from laptops, cell phones, and other connected devices to determine occupancy levels. The data is collected and analyzed in real time, and businesses can use it to make informed decisions about space utilization, operational efficiency, and visitor experience. Occuspace's technology is privacy-friendly, and no personally identifiable information is collected or stored.
Occuspace is well-positioned to capitalize on the growing demand for occupancy management solutions. As businesses continue to adopt hybrid work models, they need tools to help them optimize the use of their physical spaces. Occuspace's technology provides a valuable solution for businesses of all sizes.
