Carmel-based Allegion Ventures, the corporate venture fund of Allegion plc, says it has invested an unspecified amount into California-based VergeSense, an AI-powered sensor provider.
Allegion is the lead investor in a $9 million round of funding for the tech firm, which includes five other firms.
VergeSense produces workplace sensors that track employee interactions with other people, traffic flow through a building, and workplace design.
As employees return to work in office settings, the technology can also monitor social distancing.
“Leaders around the world are wrestling with how to comply with social distancing guidelines and reassure their employees that it is safe to return to work,” said Dan Ryan, chief executive officer and co-founder of VergeSense. “This crisis has accelerated the widespread integration of smart technology into workplaces by 5-10 years.”
Ryan says the company plans to use the investment to meet increased customer demand and scale its analytics software platform. The company said the technology helps office tenants to better understand spatial needs, especially when paying expensive per-square-foot office space, like in New York City or San Francisco.
Allegion Ventures President Rob Martens said Allegion made the investment after reviewing technologies that are having an impact in the commercial real estate market.
“VergeSense is on the leading edge of creating data-driven workspaces when it matters most to the global business community and their employees,” said Martens. “In the midst of a world crisis, they have quickly positioned themselves to help senior business leaders ensure safer workspaces through social distancing, while at the same time still driving productivity, engagement and cost efficiency.”
VergeSense says the system also helps tenants to get a real-time floor map to understand what areas need to be cleaned.