JLL Spark, Navitas Capital, Suffolk Construction, Tishman Speyer, WeWork and Zigg Capital invest in OpenSpace, an AI-powered construction tech company, led by Lux Capital.
News release
12 August 2019
OpenSpace announces new strategic partnerships to help bring "Street View"-style documentation to construction sites
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com
About OpenSpace
OpenSpace is a construction tech company using artificial intelligence to automatically create navigable, 360° photo representations of job sites. Builders simply attach an off-the-shelf 360° camera to their hardhat and walk the site as normal, with OpenSpace handling image capture. After the data is uploaded to the cloud, OpenSpace’s algorithms automatically map the images against a site plan, organizing them and then stitching them together to create a photo representation that can be navigated and compared over time. On average, customers report that OpenSpace allows for 30x faster data capture compared to traditional, manual methods, allowing them to document sites more frequently and more completely. The company was founded in 2017 is headquartered in San Francisco, California.