Occuspace Secures $3.6M in Seed Funding to Propel Expansion and Occupancy Monitoring Technology Innovation
Occuspace’s innovative occupancy monitoring solution has the potential to revolutionize the way organizations approach space utilization and management.
LOS ANGELES, CA, UNITED STATES, August 24, 2023/EINPresswire.com/ — Occuspace, the developer of easy-to-install and scalable occupancy management technology, today announced the successful closure of its recent seed funding round, securing a total of $3.6 million in investment. The funding round was led by Okapi Venture Capital and joined by Cove Fund, Shadow Ventures, and Hamilton Ventures. Occuspace’s innovative occupancy monitoring solution helps customers measure and optimize the use of their physical spaces to improve utilization, make informed operational decisions, reduce real estate costs, and enhance visitor experiences.
This investment reflects the confidence these leading technology and proptech investment firms have in Occuspace’s cutting-edge occupancy monitoring solution and the company’s potential to revolutionize the way organizations approach space utilization and management. Offering a cost-effective price range and precise foot traffic data, Occuspace allows owners and operators of all types of properties to get more granular space utilization data for a whole building or specific floors and even office neighborhoods, in addition to consumer-facing data applications.
“We are thrilled to back the Occuspace team and to help accelerate their efforts to transform the space utilization market. Occuspace’s highly accurate, frictionless, and low-cost solution explodes open the market possibilities, as the return on investment for real estate planners, managers, and retailers to manage and control their facilities like never before is extremely compelling and empowering,” said Jeff Bocan, partner at Okapi Venture Capital.
With a key focus on speeding Occuspace’s growth in key channels, the infusion of capital will empower the company to enhance its business development efforts and further establish its market share with higher education customers that include UC San Diego, UCLA, Columbia University, Purdue University, Boston College, Baylor University, and dozens more. The company also plans to continue expanding into the corporate office, multifamily, travel, government, and retail verticals where its product-market fit has been established.
“Since the inception of the company our mission has been to bring web analytics to the physical world, and this recent investment round will help accelerate our business reach into various sectors looking for scalable solutions to optimize space utilization,” said Nic Halverson, co-found and CEO of Occuspace. “We are thrilled to have the support of Okapi Venture Capital, Cove Fund, Shadow Ventures, and Hamilton Ventures, whose investment has helped us to realize our potential to address the evolving spatial needs of modern businesses.”
Occuspace’s commitment to continuous technological advancement will be further fueled by this investment, enabling the company to develop and offer even more robust occupancy management and analytics solutions, such as daily visitor counts, dwell time, and new integrations into platforms that our customers are already using.
“In a time where real estate usage is undergoing a once in a lifetime change, owners and occupiers alike are perplexed on space utilization,” said Matt Ohlman, CTO and general partner of Shadow Ventures. “We are excited that Occuspace is able to provide the market with unprecedented data, analytics, and insights to drive informed decision making and completely change the way real estate decisions are made.”
The seed funding round marks a pivotal moment in Occuspace’s trajectory, signifying a bold step toward shaping the future of physical space intelligence and delivering cutting-edge solutions for building management.
For more information about Occuspace and its occupancy monitoring solutions, please visit www.occuspace.io.
About Occuspace
Occuspace is the easiest and most affordable occupancy management solution. The privacy-friendly IoT occupancy tracking technology and consumer iOS and Android app, Waitz, allow institutions, property owners, and patrons to monitor crowd levels in a given space in real time. Occuspace customers leverage the power of occupancy data to effectively design and manage the use of physical spaces to improve operations and ultimately visitor experiences. occuspace.io
About Okapi Venture Capital
Founded in 2005, Okapi Venture Capital is a venture capital firm based in Newport Beach, California. The firm seeks to invest in companies operating in the enterprise and consumer technology sectors. okapivc.com
About Cove Fund
Cove Fund is a seed-stage venture capital fund that provides startup funding for promising new Southern California ventures. The fund invests in early-stage technology and life science companies that demonstrate the potential to address large markets with highly differentiated products and services, and that can achieve significant value-creating inflection points with their seed funding. www.covefund.com
About Shadow Ventures
Shadow Ventures is a thematic venture capital firm that invests in seed stage ConstructionTech and PropTech companies disrupting the built world. shadow.vc
About Hamilton Ventures
Hamilton Ventures is a proptech focused, strategic venture capital firm comprised of former real estate CXOs, entrepreneurs, and financiers. Today, real estate and technology are at an inflection point: AI, machine learning, data and analytics, and software-as-a-service are on the verge of wide deployment in real estate. Our mission is to deliver strategic advice and capital to proptech founders commercializing such technologies and help them succeed. Our organization includes investors with backgrounds from SitusAMC, CoStar, Stewart Title, Fannie Mae, Realogy, Freddie Mac, Access Point Financial, Goldman Sachs, Credit Suisse, the United States Congress, and others. hamiltonventures.io
Cassie Dono
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