Fast growing proptech company raises US$8M Pre-Series A round, in addition to securing US$2M in venture credit financing, following banner year of 300% revenue growth
MELBOURNE, Australia--(BUSINESS WIRE)--XY Sense—the leading occupancy sensor and analytics platform for corporate real estate teams—today announced it raised an $8M Pre-Series A funding round, led by InterValley Ventures with participation from strategic investor JCI Ventures, the corporate venture arm of Johnson Controls, and returning investor Blackbird, a leading Australasian VC. The fast-growth PropTech company will utilize the funds to deliver on rapidly increasing international demand as well as roll out its sensor technology–the most advanced sensor available on the market–in workplaces globally.
In tandem, XY Sense secured $2M (AU$2.75M) in venture credit financing from OneVentures for inventory purchases as it ramps up supply to meet strong demand. Venture credit was an attractive funding companion for its Pre-Series A round as it enabled XY Sense to gain access to additional capital without diluting equity. This ensures despite continuing challenges with global supply chains long-lead times for components, XY Sense is able to secure stocks and provide customers with industry-leading dispatch times on orders.
XY Sense was founded by Alex Birch and Luke Murray, seasoned operators and PropTech entrepreneurs, with a mission to arm large enterprises with real-time data and analytics on how their employees are actually utilizing spaces. Since launching in Australia in 2020, XY Sense has experienced rapid growth and customer adoption, now powering workplaces in 14 countries for the world’s most recognizable brands, CBRE, Xero, Mirvac, Fidelity International as well as leading financial and pharmaceutical firms.
Demand for the technology has significantly increased post-COVID-19 with all leading global employers reviewing their real estate strategies. In 2021, XY Sense experienced a 300% increase in revenue following global rollouts of its sensor tech, and as of June 30, 2022 has already doubled its annual revenue.
“We’re extremely proud to be partnering with some of the world’s most forward thinking organizations to give them insights they need to make the best space planning decisions for both their businesses and their people,” said Alex Birch, CEO and Co-Founder, XY Sense. “This funding from an incredible set of new, strategic and returning investor partners will enable us to build on our early momentum and meet global demand faster, and continue to invest heavily in our market-leading sensor technology.”
XY Sense’s next-generation tech has been engineered to be private and secure, capturing only 100% anonymous data. Additionally, the tech maximizes coverage while using 50 to 75% fewer sensors versus competitors. This minimizes roll-out costs and strengthens sustainability ratings for workplace teams without compromising accuracy or depth of data. Across their global portfolio of customers, XY Sense is also seeing rapidly increasing energy costs creating a pressing need for workplace analytics.
“CBRE prides itself on working with partners providing the most innovative solutions so that we can delight our clients and provide the best experience. XY Sense's sensor technology is world class and CBRE has already installed it at our flagship Henrietta House in London to optimize the workplace experience for our people. As a result, we have been able to monitor our real-time occupancy and over time utilization patterns, enabling effective decisions,” Isha Jane, Senior Director | Head of Digital & Technology UK & Ireland, CBRE.
“Johnson Controls is excited to work with XY Sense,” said Rain Cui, Senior Director of JCI Ventures. “As the leading provider of smart, healthy and sustainable building solutions, we seek to deploy best-in-class solutions enabling smart and digital buildings. XY Sense’s anonymous occupancy sensor technology can be integrated into our OpenBlue digital offering, a complete suite of connected solutions that delivers impactful sustainability, healthy occupant experiences and respectful safe and secure environments for our global customer base.”
Visit www.xysense.com for more information.
ABOUT XY SENSE
XY Sense has engineered a 100% privacy-preserving sensor which captures real time occupancy and people movement data to help workplace teams better plan, use and monitor their office space to capture cost efficiencies, build more productive, collaborative environments, and create amazing experiences for employees. Engineered in Melbourne and serving companies globally, XY Sense works in real time to understand occupancy and space utilization to within, on average, 1ft. Sensors update every two seconds, so you can see and monitor workplace occupancy live.
XY Sense has also been specifically engineered to minimize technology roll out costs for workplace teams with each sensor delivering extensive coverage per sensor (1000?sqft/20 desks). This means fewer sensors to buy and install, without sacrificing the accuracy and depth of data you can collect. Right now, XY Sense is helping some of the world’s biggest companies navigate their return to office, futureproof corporate real estate strategies and reimagine the workplace - all through real-time, 100% anonymous data.
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