# Canvas

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/canvas

- Industry: Software
- Headquarters: Boulder, US
- Website: www.canvas.io
- Total disclosed funding: $41M
- Latest round: Series A (Jan 21, 2025)
- Investors on record: 10

## About

Canvas is a U.S.-based technology company that specializes in creating precise 3D models using LiDAR technology integrated with mobile devices, enhancing the design process for professionals in architecture and construction.Founded in 2008 in Boulder, US, Canvas focuses on developing 3D measurement software that allows users to scan physical spaces and generate accurate CAD files. The company, led by CEO Kevin Stephens and founded by Jeffrey Powers, has recently raised USD 9.81 mn in Series A funding, bringing its total raised to USD 9.81 mn with a current valuation of USD 26.365 mn. The funding is aimed at enhancing their software and scaling operations in architecture and construction.Canvas specializes in creating precise 3D as-built models through innovative LiDAR technology integrated with iPhones and iPads. Their core offering enables users to scan physical spaces rapidly, transforming those scans into editable CAD files, detailed floor plans, and comprehensive measurement reports tailored to architects, interior designers, remodelers, and construction professionals. Canvas's services streamline the design process, replacing traditional measuring methods and allowing users to focus on creative aspects. The platform is compatible with leading CAD and BIM programs, ensuring that generated models are accurate and ready for immediate use, primarily serving clients in North America and Europe, especially in urban areas.Canvas generates revenue through a transactional model that includes fees for scanning services and the provision of CAD files. Clients engage by submitting scanning requests through the Canvas app, after which Canvas processes these requests and delivers the precise as-built documentation. Revenue comes from individual project fees and subscription models for ongoing access to their scanning technology and CAD services, emphasizing a direct-to-business nature that enhances workflow for professionals in design and construction.In January 2025, Canvas raised USD 9.81 mn in Series A funding co-led by returning investor Foundry Group and new investor Trilogy VC, with participation from Acquired Wisdom Fund, GC&H Investments, and Frontier Venture Capital. The company plans to utilize this funding to enhance its 3D measurement software and scale operations within architecture, interior design, and construction markets. Future growth strategies include expanding into new geographic regions and launching new products tailored to meet the evolving needs of their clientele.

## Funding rounds

- Series A, Jan 21, 2025, $9.8M — Foundry Group, Frontier Venture Capital, Trilogy VC, GC&H Investments, Acquired Wisdom Fund
- Series C, Jan 8, 2018, $11M — Foundry Group
- Series B, Jul 13, 2015, $13M — Intel Capital, Foundry Group, Shea Ventures, Grishin Robotics
- Series A, Aug 1, 2011, $7M — Foundry Group, K9 Ventures
- Seed, May 1, 2008, $0M — Techstars

## Investors

- Techstars (https://capitalatlas.ai/funds/techstars) — Seed
- Foundry Group (https://capitalatlas.ai/funds/foundry-group) — Series A, Series B, Series C
- K9 Ventures (https://capitalatlas.ai/funds/k9-ventures) — Series A
- Intel Capital (https://capitalatlas.ai/funds/intel-capital) — Series B
- Shea Ventures (https://capitalatlas.ai/funds/shea-ventures) — Series B
- Grishin Robotics (https://capitalatlas.ai/funds/grishin-robotics) — Series B
- Frontier Venture Capital (https://capitalatlas.ai/funds/frontier-venture-capital) — Series A
- Trilogy VC (https://capitalatlas.ai/funds/trilogy-vc) — Series A
- GC&H Investments (https://capitalatlas.ai/funds/gc-h-investments) — Series A
- Acquired Wisdom Fund (https://capitalatlas.ai/funds/acquired-wisdom-fund) — Series A