Why We Invested in Occuspace, Inc.
Occuspace is revolutionizing real estate space analytics with a low-cost, accurate, and scalable product offering.
At Hamilton Ventures, we're constantly on the lookout for groundbreaking and creative ventures that have the potential to reshape industries. We're thrilled to announce our investment in Occuspace, an innovative player in the commercial real estate analytics space. Here’s why we decided to invest in this forward-thinking startup.
A Novel Approach to Real Estate Analytics
Occuspace is not just another tech company; it’s a visionary force in the realm of commercial real estate. The company’s cutting-edge platform leverages advanced machine learning algorithms and state-of-the-art sensor technology to offer unparalleled insights into how spaces are utilized.
This innovation is particularly crucial in today's rapidly evolving landscape of real estate capitalization and construction, where efficient use of physical spaces is of paramount importance. A key differentiating factor of Occuspace is that it is one of, if not the only, space analytics companies that has easy self installation (as simple as plugging the sensors into your standard outlet) and is hardware agnostic. This allows Occuspace to be integrated into any hardware/technology stack. Another key differentiator from competing solutions is that Occuspace customers can fully set up the system in minutes/hours as opposed to days/weeks. Using proprietary machine learning algorithms, which read and decouple wifi/bluetooth signals from occupants’ devices, Occuspace has achieved an industry-leading 93%+ accuracy rate that eclipses other non-camera solutions and is on par with onerous low privacy camera based solutions.
Founder's Vision Turned Reality
Occuspace was first ideated when Co-founders Nic Halverson and Linus Grasel were unable to find a suitable solution to finding study/work space at their alma mater - University of California San Diego. Over time this idea evolved with the purpose of transforming the way we understand and utilize physical spaces. Driven by their own experiences, Nic and Linus embarked on a journey that led to the development of a game-changing solution. Their vision, combined with the incredible grit and strategic thinking of the team they have assembled, has catapulted Occuspace to the forefront of the industry.
Tackling Critical Industry Challenges
Understanding the occupancy dynamics of large-scale commercial properties has historically been a costly and time-consuming endeavor. A property would generally have to command premium rents to justify the spend (i.e., “Trophy” assets). Occuspace disrupts this paradigm by offering a fast, cost-effective (up to 90% cheaper on a square footage basis than competitors) sensor installation process that delivers high-precision data without compromising privacy. This innovation not only addresses a pressing industry need but also positions Occuspace as a trailblazer in the sector.
A Market Ripe for Disruption
The commercial real estate market represents a colossal opportunity, with billions of square feet of space waiting to be optimized. Occuspace’s beachhead in large Higher Ed. institutions is a strategic move. With dozens of Higher Ed. customers and 12M+ square feet already on board, the potential for expansion is staggering. Occuspace’s success in this segment highlights the company’s ability to navigate the intricacies of the often bureaucratic Higher Ed. market. However, we don’t believe the company’s success will stop there. Occuspace has strong use cases in Multifamily, Retail, Commercial Office, and other asset classes. The wider market is also extremely fragmented and untapped with the top 3 occupancy data solutions currently covering less than 1% of U.S. Commercial Real Estate.
Key Differentiators and Competitive Edge
Occuspace stands out among industry peers for several reasons:
The company’s solution is not only cost-effective but also boasts rapid installation times and a stringent focus on privacy.
Its proprietary algorithms, validated through independent tests, that outshine competitive offerings that require significantly more extensive resource investment for the customer.
Furthermore, Occuspace's approach to growth has been notably capital-efficient, setting them apart from their peers and laying the foundation for long-term market capture.
Pioneering the Future of Real Estate Analytics
Looking ahead, the trajectory for Occuspace is promising. The company’s impressive YoY growth and solid traction in the market has positioned it for substantial expansion. With a diversified customer base and opportunities for significant further ACV (Annual Contract Value) expansion, Occuspace is well-poised to become a major player in the industry.
Occuspace’s potential to disrupt and redefine the commercial real estate landscape is immense, and we’re excited to be a part of the company’s journey towards reshaping how we perceive and utilize physical spaces.
To learn more about Occuspace and its transformative impact on the real estate industry, visit https://occuspace.io.
To learn more about how to get Occuspace in your assets, please fill out their contact form or reach out to them at support@occuspace.io.
Connect with Hamilton Ventures
If you are a proptech entrepreneur looking for guidance or capital please apply via our website, or contact TJ Fleming: tfleming@hamiltonventures.io
If you are interested in investing in our portfolio opportunities, reach out to Prashant Kothari: pkothari@hamiltonventures.io