OnSiteIQ raises $4.5 million to improve construction safety using AI and 360-degree imagery
In the News. Feb 18, 2020
OnSiteIQ today announced that it has raised a $4.5 million series A round to grow its AI-powered safety analysis of 360-degree imagery from construction sites.
In addition to supplying computer vision for risk assessment reports, the company’s platform is made to stitch together imagery so construction site managers can examine progress, skimming through footage for a guided tour like Google Street View.
OnSiteIQ built the largest data set — over 100 million images — of visual construction risk information in the industry, OnSiteIQ CEO and cofounder Ardalan Khosrowpour told VentureBeat in a phone interview.
“When our data collectors go to a job site, they record videos on every single floor. They’re not taking images. So it’s a rolling basis video to walk and capture everything,” he said.
The funding will be used to open new offices in Texas and California, grow the company sales team, and partner with more insurance companies to give them insights into data that may indicate risk at construction sites.