SAN FRANCISCO — Density, Inc. announced that it added $25 million from existing investors, bringing the total capital raised to over $100 million.
New capital will be used to accelerate growth and scale initiatives at the company. At the same time, the company announced the release of a new addition to its growing software suite, called Portfolio.
Density also announced the appointment of Peter Van Emburgh, former Global Head of Corporate Real Estate at CBRE Group, to its leadership team as Head of Industry Strategy. Van Emburgh was instrumental in the development of Portfolio as a Density client while in his previous position.
Portfolio uses Density sensor data to show real-time, day-over-day return to office insights. The new benchmarking feature was designed to help real estate teams quickly determine the performance and use of up to millions of square feet of space in seconds.
The addition to Density’s growing software suite also enables more efficient management, benchmarking, and safety compliance. The new experience aggregates data from Density sensors across a collection of properties to provide a holistic view of a portfolio’s performance.
Portfolio automatically tracks weekly occupancy and usage changes, enabling users to set safe maximum capacities based on local requirements. This data is vital as companies plan to reopen offices safely and with as much information as possible, including comparing and adjusting occupancy to safety thresholds in accordance with local jurisdictions.
Over the longer term, commercial real estate portfolio managers are able to measure and surface actionable data to be more proactive and strategic, right-sizing spaces to reinvest savings into the things that really matter: the company’s people and their workplace experience.
“We’ve seen thousand-person buildings reopen only to reach no more than one percent of utilization,” said Andrew Farah, co-founder and CEO of Density. “Others that are officially supposed to be closed are at 28 percent utilization and climbing. In the process of deploying infrastructure that measures the safe return to office, real estate teams are getting a powerful benchmarking application with the introduction of Portfolio.
“We learned this from Peter. We’re grateful to have his unique experience from the client side as we continue to build technologies that help shape the workplace of the future,” he added.
Peter Van Emburgh has more than a decade of experience in commercial real estate, delivering advisory and transactional results for clients internationally. Most recently, as a Density customer, he oversaw CBRE Group’s global corporate real estate organization, including a portfolio of more than 530 offices. In his new role as Density’s Head of Industry Strategy, Van Emburgh will focus on accelerating growth, deepening and expanding relationships with global customers and partners, and, as he did with Portfolio, bringing the customer perspective into the product development process.
“Density has a uniquely customer-first mindset and collaborated with me to design Portfolio to be exactly what I needed and simplify the ‘so what’ of space data,” said Van Emburgh. “On the client side, I saw first-hand the cutting-edge work Density does to solve big, vexing problems of space and building management, and I’m thrilled to join the team to keep pushing it forward.”
Density has raised over $100 million in funding since its founding in 2014. Investors include Kleiner Perkins, 01 Advisors, Upfront Ventures, Founders Fund, Ludlow Ventures, Launch, Disruptive, LPC Ventures, with participation from Alex Rodriguez, Julia and Kevin Hartz, Cyan and Scott Banister, and others.
