Total amount raised
$217.2 Millions
Latest funding date
11/01/2021
Location
Density has successfully raised significant funding through multiple rounds, including a Series D round closed on November 10, 2021. The company is backed by 35 investors, including notable names like Kleiner Perkins and Trousdale Ventures.
Keep reading to explore the intricacies of Density's fundraising journey and the investors backing this innovative platform.
What Is Density?
Density, founded in 2014, is based in San Francisco, California. The company specializes in occupancy sensors and related software solutions, providing real-time analytics to measure how spaces are used without invading privacy.
Using proprietary depth sensors and deep learning algorithms, Density's platform accurately and anonymously counts people in various spaces like meeting rooms, open spaces, phone booths, and desks. This helps organizations improve efficiency and enhance occupant experience.
The company was founded by Andrew Farah, Ben Redfield, Brian Weinreich, Jordan Messina, Robert Grazioli, and Steven VonDeak. Density employs between 101-250 people.
How Much Funding Has Density Raised?
- Seed Round
- Amount Raised: $200K
- Date: October 2014
- Lead Investors: LAUNCH
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and validate the market need for occupancy sensors.
- Series A
- Amount Raised: $4M
- Date: July 2016
- Lead Investors: Upfront Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the product and expand the team to meet growing demand.
- Series B
- Amount Raised: $12M
- Date: June 2018
- Lead Investors: Founders Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and increase market penetration.
- Series C
- Amount Raised: $51M
- Date: July 2020
- Lead Investors: Kleiner Perkins
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new markets.
- Venture Round
- Amount Raised: $25M
- Date: April 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing product development and market expansion.
- Series D
- Amount Raised: $125M
- Date: November 2021
- Lead Investors: Kleiner Perkins
- Valuation at Round: $1.05 billion
- Motivation Behind the Round: To grow the global team, support the expanding customer base, and acquire HELIX RE.
Total Amount Raised: $217.2M. Current Valuation: $1.05 billion.
Key Investors
- Kleiner Perkins
- Details: Kleiner Perkins is a venture capital firm known for investing in early-stage and growth companies. They have a long history of backing successful technology startups.
- Investment Focus Areas: Technology, life sciences, high-growth industries.
- Notable Investments: Google, Amazon, Twitter, Uber.
- Founders Fund
- Details: Founders Fund is a venture capital firm that invests in companies across various stages and sectors. They are known for their bold investment strategies.
- Investment Focus Areas: Aerospace, artificial intelligence, advanced computing, energy.
- Notable Investments: SpaceX, Palantir Technologies, Facebook.
- Upfront Ventures
- Details: Upfront Ventures is a venture capital firm that focuses on early-stage technology companies. They have a strong presence in the Los Angeles startup ecosystem.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Ring, TrueCar, Maker Studios.
- LAUNCH
- Details: LAUNCH is an early-stage investment firm that supports technology startups. They are known for their accelerator programs and founder-friendly approach.
- Investment Focus Areas: Early-stage startups, technology.
- Notable Investments: Uber, Thumbtack, Wealthfront.
- Altimeter Capital
- Details: Altimeter Capital is an investment firm that focuses on technology companies. They are known for their strategic investments in high-growth sectors.
- Investment Focus Areas: Technology companies.
- Notable Investments: Snowflake, Unity Technologies.
What's Next for Density?
Density's future looks promising with the integration of HELIX RE's LIDAR scanning technology, enabling the creation of 3D digital twins of buildings. This innovation, combined with new features like Portfolio and Heatmaps, positions Density to capitalize on the growing demand for real-time space utilization data. The company is poised to expand its global team and customer base, managing over 1.25 billion square feet of commercial real estate worldwide.
With a valuation of $1.05 billion and $125 million in Series D funding, Density is well-positioned for future fundraising opportunities. The shift towards hybrid work models and the increasing importance of sustainability in building management present significant growth prospects. However, challenges such as competition, data privacy concerns, and adapting to rapidly changing workplace dynamics remain. Future acquisitions and additional funding rounds are likely as Density continues to innovate and expand its market presence.
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