The Series D round brings Density to a $1.05B valuation. Here are the top-line bullets you need to know.
Density, a provider of occupancy tracking software for offices, has raised $125M in a Series D round. The round drew participation from Founders Fund, Upfront Ventures, Altimeter Capital, Kleiner Perkins Caufield & Byers, and 01 Advisors, among others.
HOW’S THE COMPANY PERFORMING?
- California-based Density enables companies to manage, plan, and optimize office space.
- In addition to securing the new funding, the company has also acquired HELIX RE, a space planning and design company.
- Since March 2020, the company has reportedly witnessed 500%+ growth.
- Its workforce is distributed across 5 countries, and its client base includes a number of Fortune 500 companies, including Okta, Marriott, Pinterest, and Schneider Electric.
- Currently, it has 1.25B square feet of commercial real estate property under management, across 32 countries.
- Its employee base has increased by 300% since the start of the year.
WHY DOES THE MARKET MATTER?
- The space planning software market is projected to grow at a CAGR of 8.1% and reach a value of $1.4B by 2028, according to Verified Market Research.
- The demand for solutions to manage hybrid workforces has increased amid the Covid-19 pandemic, particularly as more employees make their way back into the office.