Real Estate Weekly
Image default
Construction & Design Featured

JLL bolsters tech offerings with OpenSpace partnership

JLL’s Project & Development Services (PDS) announced it will integrate OpenSpace into its core business as an enterprise partner, advancing the role of AI technology on the jobsite.

OpenSpace uses a 360-degree camera to capture jobsite images, with a state-of-the-art user interface that allows viewers to virtually walk the jobsite and see progress, comparing captures over time. The virtual experience introduces a new, elegant manner to document the jobsite and allows clients and project partners to minimize travel.

YISHAI LERNER

“Technology is essential to the future of work, and OpenSpace is an example of a company satisfying the market’s needs through innovative proptech solutions,” said Yishai Lerner, Co-CEO, JLL Technologies. “For instance, ClearSight is an AI-powered, virtual tool that OpenSpace is piloting to solve everyday problems and simplify jobsite tasks, from locating objects and assets to tracking the progress of projects.”

The new enterprise agreement signifies the deepening of an existing relationship between JLL and OpenSpace. In May of 2019, JLL Spark—JLL’s global venture fund investing in early to mid-stage property technology startups—announced its participation in a group of Series A funding investors. While JLL Spark’s initial investment in OpenSpace did not impact JLL’s core businesses, the hope was that OpenSpace services would eventually complement JLL’s PDS business. Today, that aspiration has become reality.

“OpenSpace makes it incredibly easy to walk a jobsite, gather detailed imagery and automatically generate a 360-degree view that’s pinned to the floor plan,” said David Gerster, Vice President, JLL Spark. “This investment is part of our broader commitment to transforming commercial real estate with new technology.”

JLL Spark has invested in approximately 10 early to mid-stage proptech startups in the past year, and JLL has most recently announced agreements with Roofstock, VergeSense, Saltmine and Disruptive Technologies.

(Visited 1 times, 1 visits today)

Related posts

Silverstein Capital Partners closes on $700M west coast construction loan

REW

NY investor acquires $45M workforce housing asset

REW

WHO’S NEWS: Latest appointments, promotions

REW