OnsiteIQ, a New York-based construction intelligence platform for commercial real estate investors, developers, and owners, completed a $14 million Series B financing.
SaaS Investors
The round was led by existing investor Vertical Venture Partners — joined by a number of its Limited Partners — with additional participation from leading real estate technology VC RET Ventures as well as Interplay VC.
OnsiteIQ Use of Funds
The funding will be used to enhance the platform's features, expand analytics capabilities, and improve payment verification processes.
About OnsiteIQ
Founded in 2017 by Ardalan Khosrowpour, OnsiteIQ was developed to help real estate investors from across the industry improve job site transparency and manage risk throughout their portfolio of development projects. OnsiteIQ is the construction intelligence platform for real estate developers. The company’s platform uses a network of 'capture specialists' who record 360-degree videos of job sites and map them to floor plans, creating a comprehensive record of projects. The platform leverages artificial intelligence to track progress, provide status updates, and predict potential delays.
Funding Details
Company: OnsiteIQ, Inc.
Raised: $14.0M
Round: Series B
Funding Month: October 2023
Lead Investors: Vertical Venture Partners
Additional Investors: RET Ventures, Interplay VC, and several Vertical Venture Partners' Limited Partners
Company website: https://www.onsiteiq.io/
Software Category: Construction Intelligence Platform for Real Estate Investors
Source: https://www.businesswire.com/news/home/20231024332764/en/