OpenSpace, a San Francisco-based construction tech company, announced Tuesday it added $9 million to its Series D round, which was first reported in March. This brings the funding round’s total to $111 million.
The extension funding was co-led by existing investors Taronga Ventures and GreenPoint Partners. OpenSpace will continue to use its funds to scale the business and develop additional AI-powered products.
The OpenSpace platform gives project stakeholders comprehensive insight into construction projects from afar. Builders simply strap a 360-degree camera to their hardhat and walk the construction site as usual. OpenSpace’s AI then uses that imagery to create a digital twin of the construction site.
“We see continued growth potential in OpenSpace, especially in regions like APAC and the Middle East, due to its ease of use, making it simple for customers to adopt and implement quickly,” Taronga Ventures co-founder and partner Avi Naidu said in a statement. “OpenSpace is fast becoming an industry standard, and we’re pleased that we can continue to support this growth.”
In addition to its funding, OpenSpace also announced the addition of Alan Henricks to its board of directors. Henricks is an experienced financial advisor and has served on the board of companies such as Roku, Model N and Ellie Mae.
“Alan will help propel OpenSpace to our next phase of growth and success,” Jeevan Kalanithi, OpenSpace CEO and co-founder, said in a statement. “His impressive track record of helping companies scale speaks for itself, and we’re looking forward to benefiting from his expertise and partnership with companies like ours.”
