# InnerSpace Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/innerspace-technologies

- Industry: Software
- Headquarters: Toronto, Canada
- Website: www.innerspace.io
- Total disclosed funding: $11M
- Latest round: Series A (Aug 10, 2023)
- Investors on record: 6

## About

Based in Canada, InnerSpace Technologies Inc. delivers advanced sensor-free space utilization data through innovative Wi-Fi analytics, empowering businesses with insights to optimize office designs and enhance operational efficiency.Founded in 2016 and headquartered in Toronto, Canada, InnerSpace Technologies Inc. specializes in spatial analytics and was established by James Wu, Jason G., and Matt Macgillivray. The company has successfully completed 3 investment deals, with the most recent being a Series A funding round in August 2023, raising CAD 10 million led by Yaletown Partners, alongside participation from BDC Capital and MaRS Investment Accelerator Fund. This funding marks the total amount raised by the company at CAD 10 million.InnerSpace specializes in next-generation sensor-free space utilization data, leveraging existing Wi-Fi networks to provide comprehensive insights into office occupancy and space utilization. Their core offering is a sophisticated analytics platform that employs patented Predictive Hyperbolic Location Fingerprinting (PHLF) algorithms to accurately track the presence and movement of individuals within workplace environments. By analyzing Wi-Fi data, InnerSpace enables organizations to make informed decisions about their office design and resource allocation, ultimately enhancing productivity and collaboration. The platform is aimed at corporate clients across various industries, including higher education and large enterprises, and operates in key markets including North America, Europe, and parts of Asia. InnerSpace’s solutions cater to clients looking to optimize their real estate investments by offering detailed reports on space usage, employee behavior, and the effectiveness of different workspaces.InnerSpace operates on a subscription-based revenue model, where clients pay for access to its analytics platform and services. The typical client engagement involves a contractual agreement, allowing businesses to utilize the platform to gain actionable insights into their workspace dynamics. Revenue generation is facilitated through tiered subscription plans, which may encompass features ranging from basic occupancy tracking to advanced analytical capabilities tailored to specific business needs. The company’s offerings are designed for business-to-business transactions, primarily targeting corporate real estate managers and workplace strategists. Subscription pricing structures are customized based on the scale of the client's operational footprint and the specific features required, ensuring flexibility and alignment with client goals.Following the CAD 10 million Series A funding round completed on August 10, 2023, led by Yaletown Partners, InnerSpace Technologies Inc. intends to accelerate product development and enhance its operational capabilities. The company is focused on expanding its market presence, with plans to penetrate additional regions in Europe and Asia by the end of 2024. The recent funding will support these initiatives, allowing InnerSpace to develop new features for its analytics platform and further establish itself as a key player in workplace optimization.

## Funding rounds

- Series A, Aug 10, 2023, $7.4M — BDC Capital, Yaletown Partners, MaRS Investment Accelerator Fund
- Seed, Mar 26, 2019, $3.2M — BDC Capital, Industry Ventures, 500 Global, AngelList, MaRS Investment Accelerator Fund
- Seed, Jun 1, 2018 — BDC Capital, AngelList, MaRS Investment Accelerator Fund

## Investors

- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Seed, Series A
- AngelList — Seed
- MaRS Investment Accelerator Fund (https://capitalatlas.ai/funds/mars-investment-accelerator-fund) — Seed, Series A
- Industry Ventures (https://capitalatlas.ai/funds/industry-ventures) — Seed
- 500 Global (https://capitalatlas.ai/funds/500-global) — Seed
- Yaletown Partners (https://capitalatlas.ai/funds/yaletown-partners) — Series A