VergeSense Lands $60 Million Series C

<p><strong><span class&equals;"xn-location">SAN FRANCISCO<&sol;span><&sol;strong> &&num;8212&semi; VergeSense&comma; operator of a workplace analytics platform&comma; has raised <span class&equals;"xn-money">&dollar;60 million<&sol;span> in Series C funding&comma; led by Scale Venture Partners with participation from DivcoWest and existing investors Tola Capital&comma; JLL Spark&comma; MetaProp&comma; Allegion Ventures and Bolt&period;<&sol;p>&NewLine;<p>The new funding will help the company accelerate platform innovation and growth as the market increasingly requires data and insights to drive necessary workplace transformation&period; <span class&equals;"xn-person">Rory O&&num;8217&semi;Driscoll<&sol;span>&comma; a Partner at Scale Venture Partners&comma; will join the company&&num;8217&semi;s board of advisors&period;<&sol;p>&NewLine;<p>With <u>74&percnt; of enterprise companies<&sol;u> returning to the office adopting a hybrid work model&comma; business leaders are looking for new ways to maximize office space investments that foster employee productivity&comma; culture and collaboration&period; Driven by this market need&comma; VergeSense will use the funding to further invest in its spatial data capabilities&comma; platform development and application ecosystem to be the transformational partner enterprises need&period;<&sol;p>&NewLine;<p>VergeSense&&num;8217&semi;s customers represent over 40 million square feet across 29 countries and include 26 of the Fortune 500&period; The company reports a 400&percnt; increase in annual recurring revenue &lpar;ARR&rpar; from Q2 2020 to Q2 2021 – over half of which stems from customer expansion&period; VergeSense partners with the leading workplace technologies and plans to expand its strategic partnerships&period; The company also is on track to double its headcount by the end of 2022&period;<&sol;p>&NewLine;<p><b><span class&equals;"xn-person">Rory O&&num;8217&semi;Driscoll<&sol;span>&comma; <&sol;b><b>partner&comma; Scale Venture Partners&comma; said&colon;<&sol;b> &&num;8220&semi;The workplace has been irreversibly transformed in the last 18 months and the market needs a leader who provides a data-driven approach to help companies navigate these rapid changes&period; We believe that VergeSense is this leader&period; VergeSense&&num;8217&semi;s comprehensive solution provides enterprise workplace executives with AI-powered insight beyond what the eye can see and their top decile growth rate is evidence that the market is responding&period;&&num;8221&semi;<&sol;p>&NewLine;<p><b><span class&equals;"xn-person">Richard Bettina<&sol;span>&comma; senior director of leasing&comma; Fresenius&comma; said&colon; <&sol;b>&&num;8220&semi;VergeSense helped us rapidly determine our utilization levels at our headquarters location&period; This activity&comma; and the data driven benefits of the VergeSense platform&comma; enabled Fresenius to launch a program to study our overall portfolio as needed&comma; to drive significant cost savings while making fact based choices to improve our employee workplace experience and optimize our real estate investments&period;&&num;8221&semi;<&sol;p>&NewLine;<p><b><span class&equals;"xn-person">Dan Ryan<&sol;span>&comma; CEO and co-founder&comma; VergeSense&comma; said&colon; <&sol;b>&&num;8220&semi;The workplace has an increasingly important role to play in helping businesses create a competitive advantage by using it to drive culture&comma; collaboration&comma; innovation and overall impact&period; This funding will enable VergeSense to drive even greater outcomes for our customers as they undergo workplace transformation&period;&&num;8221&semi;<&sol;p>&NewLine;