As the world begins to reopen for business, every company with an office or storefront is now tasked with welcoming people back safely. We’re implementing new safety measures, taking necessary precautions, and also using this time to take stock of what we need to succeed in our current and future environment, including office space.
Even before the pandemic, companies were spending more than $1 trillion in unused office space in the U.S. Sheltering-in-place brought with it the understanding that working from home is a suitable (and even sometimes preferred) way of working for some knowledge-based workers, but it’s not a reality for the majority of our U.S. workforce. Now more than ever, owners and occupiers are evaluating how their physical spaces are, and can be used to best preserve capital and keep employees and customers safe.
When we met Andrew Farah, he had proved that the sensor created to gauge how crowded his local coffee shop was before trekking there in a Syracuse winter to work was even more valuable to others. Density counts people in any space anonymously, accurately, and in real-time. Anonymous people counting accurately measures how real estate is used, and as the pandemic has accelerated, so has the need to track building performance. Companies like Pinterest, Booz Allen Hamilton, NYU and Resorts World Casino rely on Density to both measure their space utilization and re-open safely.
Density is powering the future of how we measure and manage physical space, and there hasn't been a more critical moment in our history to get this right. We believe accurate utilization data will shape the future of real estate, and we're excited to lead Density’s Series C.