Smartvid.io Raises $5M in Funding

12/9/20

Smartvid.io, a Cambridge, Mass.-based AI-powered construction safety platform, raised $5m in funding.

Backers included Sony Innovation Fund (SIF) and IA Capital Group, as well as prior investors Building Ventures, Companyon Ventures and Converge, among others. This new round brings the total amount of funding that Smartvid.io has raised to $21m.

The company intends to use the funds to continue to expand oeprations and its business reach.

Led by CEO Josh Kanner, Smartvid.io provides a platform to help reduce risk in the AEC industry by improving safety, quality and productivity through the combination of human and artificial intelligence. Its Safety Suite includes monitoring, observations and predictive analytic modules that aggregate data from multiple sources to help trend and predict risk. The solution integrates to Autodesk BIM360, Procore, Oracle Aconex, SharePoint, Egnyte, Box, and other data sources. Over the last 12 months, Smartvid.io’s platform has been used by construction companies, including Suffolk Construction, Warfel Construction and Barton Malow. Most recently, the company’s data has also been used broadly by the industry to understand COVID-19 responses by region across the country. 

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