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VergeSense Secures USD 9 Million in Funding Round

By HR Tech Outlook | Tuesday, June 02, 2020

As companies respond to the COVID-19 situation, they are looking towards new VergeSense functionalities to solve their most significant problem - getting employees back into the workplace safely

Fremont, CA: AI-powered workplace sensor provider VergeSense secured USD 9 million in a strategic investment round led by Allegion Ventures, with participation from JLL Spark, Metaprop, Y Combinator, Pathbreaker Ventures, and West Ventures. The company will use proceeds from the investment round to meet increased customer demand during the Coronavirus crisis and scale its analytics software platform. VergeSense has rapidly emerged as a predominant provider in the burgeoning workplace sensor market since launching in 2017. The company now processes 6 million sensor reports a day for nearly 70 customers. This includes 40 FORTUNE 1000 companies, providing services to across 20 million sqft, 250 office buildings, and 15 countries.

"Senior leaders around the world are wrestling with how to comply with social distancing guidelines and reassure their employees that it is safe to return to work. This crisis has accelerated the widespread integration of smart technology into workplaces by 5-10 years. Accurate, real-time people counting tech like ours has become a must-have," said Dan Ryan, CEO, and co-founder of VergeSense. "We're excited to have Allegion Ventures join our existing investors in this strategic round to help us meet the growing demand for our mission-critical solution."

Top 10  Employee Wellness Solution Companies – 2020As companies respond to the COVID-19 situation, they are looking towards new VergeSense functionalities to solve their most significant problem - getting employees back into the workplace safely. New features include the VergeSense Wellness Dashboard, which provides a Social Distancing Score and daily occupancy reports so that companies can make informed, data-driven adjustments to their return to work plans. Also, the company's Smart Cleaning Planner offers a real-time floor map of frequently used areas. Demand for VergeSense capabilities is creating a significant growth opportunity.

"The talented team of entrepreneurs at VergeSense is currently proving just how nimble they can be and how valuable and adaptable their technology is," said Rob Martens, president of Allegion Ventures. "In the midst of a world crisis, they have quickly positioned themselves to help senior business leaders ensure safer workspaces through social distancing, while at the same time still driving productivity, engagement, and cost-efficiency. VergeSense is on the leading edge of creating data-driven workspaces when it matters most to the global business community and their employees."

See also: Top Artificial Intelligence Companies

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