Venture Capital

Density Secures $125 Million Series D

SAN FRANCISCO — Density Inc., developer of an analytics platform for measuring and optimizing workplace performance, has secured $125 million in Series D funding led by existing investor, Kleiner Perkins. Other new investors include Altimeter Capital and Lachy Groom of LGF, with participation from existing investors 01 Advisors; Upfront Ventures; and Founders Fund.

Density provides an end-to-end platform to help companies plan, build, manage, and optimize their real estate portfolios, and give employees greater control of their individual hybrid work experience. The company prioritizes privacy, using laser- and depth-based technology, rather than cameras, to provide a solution that is anonymous at the source and guarantees that personally identifiable information is never captured.

Density will use the funds to grow its global team and support its rapidly expanding customer base. The company has also announced the acquisition of HELIXRE, a technology that creates an accurate digital twin of a built space to enable efficient space planning and design.

“The emergence of hybrid work, post-pandemic, has fundamentally changed the nature and purpose of our buildings,” said Andrew Farah, Co-Founder and CEO of Density. “Density customers believe this period of transition can either be a reckoning or a renaissance for the workplace. Over the next five years, the vast majority of the built world will be instrumented for measurement. This new infrastructure will generate reliable, real-time utilization data; it’ll support the dynamic needs of hybrid work; and help design, architecture, real estate and workplace teams improve the environments and spaces we use each day.”

Altogether, Density has secured more than $225 million in funding since its founding, which brings its present valuation to $1.05 billion. Density says it has experienced more than 500% growth since March 2020, with customers that include leading Fortune 500 companies and high-growth ventures like Okta across 32 countries. Combined, Density customers manage more than 1.25 billion square feet in commercial real estate worldwide and are experimenting with new ways to create dynamic workplace environments that prioritize employee experience while optimizing their real estate footprint.

“At Okta, we enable our customers to securely use the best technologies for their business. We think about our spaces and how they enable our employees in the same way,” said Brooke Lierman, Sr. Director of Workplace Technologies, Okta. “We aim to create trusted, safe spaces that enable and empower our employees with what they need to be successful, while reducing our impact on the planet. Density is a critical partner in helping us make data-driven decisions on how to evolve our offices to fit with how people work today, as well as in the future.”