Density Valuation, Funding & Investors
Density is valued at $1.1B as of November 2021.
Last Density valuation
$1.1B
Series D · Nov 2021
Last Density funding round
$125M
Series D · Nov 2021
Cumulative funding Density raised
$217M
across 6 funding rounds
Key investors in Density
LAUNCH
The Syndicate.com
George Godula
Founders Fund
Kleiner Perkins
Upfront Ventures
About Density
Density is a San Francisco-headquartered provider of real-time occupancy intelligence using computer vision-enabled depth sensors. The platform delivers anonymous people-counting data for offices, retail spaces, healthcare facilities, and commercial buildings. Deployed worldwide, it supports hybrid workplace optimization, space utilization analytics, and demand-based cleaning schedules. Major clients include Boston Properties, Equinix, and Prologis, leveraging the technology to measure foot traffic without cameras or personal data capture.
Founded
2014
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$1.1B (Nov 2021)
Density Valuation
Density is currently valued at $1.1B, based on its Series D in November 2021.
The $125M round was led by Kleiner Perkins, with participation from The Syndicate.com, Trousdale Ventures, Long Journey Ventures, George Godula, Altimeter Capital and 5 other investors.
Density's valuation has grown 21x from $50M at its Series B in June 2018 to $1.1B in November 2021, across 2 priced rounds.
Density valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Nov 2021 | Series D | $1.1B |
| Jun 2018 | Series B | $50M |
Density Funding History
Density has raised a total of $217M across 6 funding rounds.
Density's first fundraising round was a $200K seed round in October 2014. The most recent completed round was a $125M Series D in November 2021.
Density funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2021 | Series D | Kleiner Perkins (lead); The Syndicate.com; Trousdale Ventures; Long Journey Ventures; George Godula; Altimeter Capital; Founders Fund; 01 Advisors; LAUNCH; Upfront Ventures; Karman Ventures | $125M | $1.1B | Density is a San Francisco-based startup providing an analytics platform with depth sensors and AI to anonymously track office occupancy, enabling companies to measure, plan, optimize, and manage workplace space utilization in real time. The company serves Fortune 500 enterprises and high-growth firms like Okta, Marriott, Pinterest, and Schneider Electric across 32 countries, managing over 1.25 billion square feet of commercial real estate. Density's technology supports hybrid work transitions post-pandemic, offering features like Heatmaps for space efficiency and tools for sustainability and employee experience. On November 10, 2021, Density raised $125 million in a Series D funding round led by Kleiner Perkins, with participation from Altimeter Capital, Lachy Groom of LGF, Founders Fund, Upfront Ventures, 01 Advisors, and others including George Godula, Karman Ventures, Long Journey Ventures, The Syndicate.com, and Trousdale Ventures. The round valued the company at a post-money $1.05 billion, achieving unicorn status, and brought total funding to over $225 million since founding in 2014. Alongside the raise, Density acquired HELIX RE, a space planning and design firm, to enhance its offerings. The funding came amid strong traction, with over 500% growth since March 2020 and a 300% increase in employee headcount since early 2021. Density plans to use proceeds to accelerate growth, build advanced measurement tools, solve distribution challenges, and expand its impact from workplaces toward broader urban applications. The company had previously raised $51 million in Series C in July 2020. Its sensors emphasize privacy without cameras, positioning it in the growing space planning software market projected to reach $1.4 billion by 2028. |
| Apr 2021 | Undisclosed stage | The Syndicate.com; George Godula; AAFM; Gaingels; Bossa Invest | $25M | - | Density, a San Francisco-based company founded in 2014 that provides SaaS-driven foot traffic tracking using infrared sensors. The company raised a total of approximately $225 million across multiple rounds, with a Series D of $125 million on November 10, 2021, led by Kleiner Perkins, Altimeter Capital, and Lachy Groom, achieving a $1.05 billion post-money valuation and unicorn status. Earlier rounds included a Series C of $51 million in November 2020 and prior seed through Series B totaling about $49 million from investors like Founders Fund and Upfront Ventures. |
| Jul 2020 | Series C | Kleiner Perkins (lead) | $51M | - | Density is a San Francisco-based startup that provides sensor-based technology to monitor real-time occupancy and usage in indoor spaces such as offices, buildings, warehouses, manufacturing facilities, universities, and meat processing plants. The company's platform helps businesses optimize space utilization, manage capacity for safe reopenings post-pandemic, and avoid unnecessary leases. Prior to COVID-19, Density focused on space optimization for commercial properties; during the pandemic, demand surged for applications like limiting worker concentration in high-risk environments and supporting hybrid work models. On July 28, 2020, Density raised $51 million in a Series C funding round led by Kleiner Perkins, with participation from 01 Advisors, Upfront Ventures, Founders Fund, Ludlow Ventures, Launch, DTA, Greenoaks, LPC Ventures, and individuals including Alex Rodriguez, Julia and Kevin Hartz, Cyan, and Scott Banister. This followed a Series B in 2018, bringing total funding to over $74 million at the time. Kleiner Perkins GP Ilya Fushman joined the board. The investment supported scaling customer success, sales, infrastructure, operations, manufacturing, engineering, and core product development amid rapid growth. Traction accelerated significantly during the pandemic: new bookings grew 493% in the quarter starting February 2020 compared to the prior quarter, and Density did more business in the first 75 days of COVID-19 than all of 2019, prompting a 90% production increase at its Syracuse facility. Customers included Pinterest, Hello Fresh, New York University, Delta airport lounges, places of worship, hospitality venues, casinos, and higher-education institutions. Pre-pandemic growth was 30% quarter-over-quarter. The Series D included Altimeter Capital and Lachy Groom, with plans to double team size by end-2022 and expand into broader built-world instrumentation. |
| Jun 2018 | Series B | Founders Fund (lead); The Syndicate.com; James Conigliaro; Daniel Scrivner; Zachary Hargreaves; George Godula; LAUNCH | $12M | $50M | Density develops people-counting technology using proprietary depth sensors and deep learning to anonymously monitor occupancy in physical spaces like offices, stores, and facilities. The company helps businesses optimize space utilization and manage capacity without invasive tracking. Founded in 2014 by Syracuse graduates including CEO Andrew Farah, Density originated from a goal to reduce wait times at coffee shops amid harsh winters. An investor deal memo documents a $50 million valuation in an earlier Series B round in April 2017, where $5,000 was invested. Later rounds include a Series C in June 2020 raising $51 million led by Kleiner Perkins with Founders Fund participation, bringing total funding to $74 million, and a Series D in 2021 raising $125 million also led by Kleiner Perkins at $1.05 billion valuation. Density serves customers like Pinterest, Hello Fresh, New York University, and Delta across offices, warehouses, casinos, and educational institutions. The company achieved 30% quarter-over-quarter growth pre-2020 and surged during the pandemic, closing more business in early COVID months than all of 2019. |
| Jul 2016 | Series A | Upfront Ventures (lead); Hiten Shah; Arjun Sethi; Dawn Patrol Ventures; LAUNCH; Craft Ventures | $4M | - | Density launched its people-counting sensor in July 2016 to measure occupancy in physical spaces using infrared light and depth sensors without capturing identities. The company announced a $4 million Series A round led by Upfront Ventures with participation from Ludlow Ventures, Jason Calacanis, Dawn Patrol, Hiten Shah, and Arjun Sethi, following a $200,000 seed round. Density's sensor is provided free, with revenue generated from data access at $45 per sensor per month, billed annually. Early customers included homeless shelters, Ivy League colleges, theme parks, and Uber for foot traffic and staffing optimization. |
| Oct 2014 | Seed | LAUNCH (lead); Daniel Curran; Jonathon Triest; Billy Draper; The Syndicate.com; Arjun Sethi; Ludlow Ventures | $200K | - | - |
Who has invested in Density?
25 investors have backed Density across its funding rounds, including LAUNCH, The Syndicate.com, George Godula, Founders Fund, Kleiner Perkins and Upfront Ventures.
Lead investors include Kleiner Perkins, Founders Fund, Upfront Ventures and LAUNCH.
Density Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 4 | Participant | Oct 2014 | |
| United States | 4 | Lead | Oct 2014 | |
 Shanghai | 3 | Participant | Jun 2018 | |
| San Francisco, CA | 2 | Lead | Jul 2020 | |
| San Francisco, CA | 2 | Participant | Oct 2014 | |
| San Francisco, CA | 2 | Lead | Jun 2018 | |
| Los Angeles, CA | 2 | Lead | Jul 2016 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Daniel Curran | Los Angeles, CA | 1 | Participant | Oct 2014 |
| Jonathon Triest | Detroit, MI | 1 | Participant | Oct 2014 |
| Billy Draper | San Francisco, CA | 1 | Participant | Oct 2014 |
| San Francisco, CA | 1 | Participant | Jul 2016 | |
| James Conigliaro | New York City, NY | 1 | Participant | Jun 2018 |
| Boulder, CO | 1 | Participant | Jun 2018 | |
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Start Free TrialAcquisitions by Density
Density has acquired 3 companies to date.
Last acquisition by Density was on July 25th 2022. Density acquired Prevision.io for undisclosed valuation.
Latest Acquisitions by Density
| Description | Prevision.io is a Paris-based automated machine learning platform for building and deploying predictive models on cloud or on-premises environments. Users without coding expertise create models for sales forecasting, churn prediction, supply chain optimization, predictive maintenance, energy consumption, and credit recovery. The platform serves data scientists and analysts across European enterprises with explainable AI outputs. | HELIX is an Oakland-headquartered platform for digitizing buildings using LiDAR scanning and photogrammetry, converting point clouds into 2D floor plans and 3D BIM models. Formerly Flux and a Google X spin-out, it serves architects, engineers, and property managers for renovation assessments, disaster preparedness, and digital twin creation. Users access as-built geometry, MEP systems, and documentation via cloud-based viewers compatible with Revit and AutoCAD. | Nashi is a Tel Aviv-headquartered workplace management platform for hybrid offices. The software enables desk reservations, visitor check-ins, and capacity planning integrated with Microsoft Teams and Google Workspace. Nashi serves 300 enterprises across Europe and Israel tracking 1 million bookings monthly. Launched in 2020, it enforces health protocols with contact tracing features compliant to GDPR. |
| HQ Country |  | | |
| HQ City | Paris | San Francisco, CA | San Francisco, CA |
| Deal Date | 25 Jul 2022 | 10 Nov 2021 | 29 Jun 2021 |
| Valuation | undisclosed | undisclosed | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
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Density Competitors
Density competitors include listed companies like Aeva and Park Systems, and private ones like ButterflyMX, Shunyitong Information Technology, Junction and ZaiNar.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| New York City, NY | Private | - | - | $331M | - | |
| Shunyitong Information Technology | Shenzhen | Private | - | - | $158M | - |
| New York City, NY | Private | - | - | $90M | - | |
| United States | Publicly listed | $18M | ($139M) | $1B | 34.3x | |
| San Francisco, CA | Private | - | - | $1B | - | |
 South Korea | Publicly listed | $149M | $35M | $1.3B | 7.5x |
Density Public Comps
Density is still privately-owned, but its public comps include Aeva, Robosense, Gosuncn Technology Group, Hwa Create, Evolv Technologies, Hangzhou Sunrise Tech, Park Systems, LEM Holding, Koh Young and TOKYO KEIKI.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $18M | ($139M) | 52.8x | 34.3x | (6.8x) | (8.4x) | |||
| $290M | ($19M) | 2.2x | 1.7x | (34.6x) | (57.5x) | |||
| $297M | $7M | 3.7x | 3.7x | 165.8x | 145.5x | |||
| $117M | $5M | 9.7x | 12.2x | 207.8x | - | |||
| $146M | ($9M) | 6.1x | 5.2x | (104.2x) | 62.7x | |||
| $252M | $95M | 1.7x | 1.8x | 4.5x | 4.6x | |||
| $149M | $35M | 8.4x | 7.5x | 35.8x | 30.2x | |||
| $349M | $53M | 2.6x | 2.4x | 17.0x | 13.5x | |||
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Common questions about Density
| When was Density founded? | Density was founded in 2014. |
| Where is Density headquartered? | Density is headquartered in San Francisco, CA, United States. |
| Is Density publicly listed? | No, Density is a private, VC-backed company. |
| What is Density's valuation? | Density was last valued at $1.1B in its Series D in November 2021. |
| How much funding has Density raised? | Density has raised $217M across 6 funding rounds. |
| What was Density's last funding round? | Density's last funding round was a $125M Series D in November 2021, led by Kleiner Perkins. |
| Who are Density's investors? | Density's investors include The Syndicate.com, LAUNCH, George Godula, Kleiner Perkins, Arjun Sethi, Founders Fund, Upfront Ventures, Daniel Curran, Jonathon Triest, Billy Draper and 15 others. |
| Which companies are comparable to Density? | Companies comparable to Density include ButterflyMX, Shunyitong Information Technology, Junction, Aeva, ZaiNar and Park Systems. |
| How many companies has Density acquired? | Density has acquired 3 companies, including Prevision.io, HELIX and Nashi. |
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