Human counting company Density, co-founded through six friends at Syracuse in 2014, today announced that it has $51 million in a C-Series circular. The new investment circular led by Kleiner Perkins and includes 01 advisors, Upfront Ventures, Founders Fund, Ludlow Ventures, Launch, DTA involved with Alex Rodriguez, LPC Ventures, Greenoaks Capital, Julia and Kevin Hartz, Cyan and Scott Banister, among others.
Density designs and manufactures input sensors that can be placed through other entrances to buildings, floors and rooms, with the aim of seeing how many humans there are in any internal area of a building at any time. The company’s generation aims to help organizations eliminate the unused area, lower energy costs, make constructions safer by eliminating unauthorized access, and identifying available areas.
“When we ventured into the existing pandemic, it was reduced to two elements,” says Andrew Farah, Density’s co-founder and CEO. “Companies seek to protect others and seek to reduce their overall burden to keep their money in the event of a recession.”
Each sensor is a traditional intensity sensor with approximately 800 subcomponents in the unit. Sensors are fixed on the access point and when other people walk below, they gently bounce an infrared laser onto the items (the other people and the things they bring with them), calculating the height values for the time it takes to return to the sensor. Array
Density collects knowledge and measures collisions, bidirectional movements, or persistent occupancy knowledge—plus one, minus one, multiple times on the network to provide a real-time count.
“A giant company can own 50 million square feet of space, 41% of which are normally empty but paid for,” Farah says. “What they can’t is that 41% are empty. We help them to perceive where there is underutilization and where there is maximum demand, so that they can make greater decisions about their space.”
Density charges a one-time payment for the sensor, which is $895, and then a recurring annual charge consistent with the sensor for access to knowledge, $795.
The coronavirus pandemic and the desire to be aware of the number of others in the room have particularly accelerated the application for Density products. In the first quarter of 2020, the company sold more sensors over a 75-day era than in the following year. In 2019, it rose 40% quarter-on-quarter in 2019, while in the first quarter of this year it was up 500% compared to the subsequent quarter.
Ilya Fushman, kleiner Perkins’ spouse, says one of the greatest effects of coronavirus in the business world is that she has accelerated the adoption of technologies that would still be the norm.
“Density has noticed an incredible number of businesses from corporations looking to return to paintings safely and have giant footprints of genuine goods,” Fushman says. “It’s also helping clients perceive how to adjust this genuine real estate footprint to the post-Covid-19 scenario and a more dynamic long-term factual world.”
Lately, the company has several hundred consumers, about 70% of whom are giant companies. Some of Density’s consumers come with Pepsi, Marriott, Uber, ExxonMobil and Verizon.
The company was created through six friends (including five Syracuse University graduates) in 2014 as a seventh task (previous concepts included things like gesture-controlled drones). The co-founders built a prototype that sought to count the wifi signals from their smartphones in the apartment, when they measured the number of other people in a bar five stories below. Three and a half years later, they had manufactured the first product for widespread use.
The San Francisco-based company has offices in New York and Syracuse and 50 full-time employees. He had already raised an $800,000 circular from the table in 2014, a $4 million Serie A circular in 2016 and a $19 million B-Series circular in 2018. With the latest investment of $51 million, the company’s overall equity financing has increased to nearly $75. Million.
I sing the news and Forbes Under 30. Originally from Skopje, Macedonia, I received a double degree in film and journalism from Chapman University in California, and a
I’m waiting for the news and Forbes Under 30. Originally from Skopje, Macedonia, I earned a double degree in film and journalism from Chapman University in California, and a master’s degree in journalism from Columbia University in New York. While on the West Coast, I did an internship for Appian Way Productions by Leonardo DiCaprio, the Creative Artists Agency (CAA), and worked as a foreign correspondent for a Macedonian national newspaper. Twitter: @igorbosilkovski