San Francisco, CA-based company Density acquired Paris-based data science company Prevision.io. The acquisition took place on July 25, 2022. However, the company did not disclose the amount of the transaction.
The decision to acquire Prevision.io is a part of Density’s international expansion. The company also hired J C Groon to lead the company’s global outreach. He will overview the preliminary operations in Ireland and the UK.
Purpose of the acquisition by Density
As a part of the recent acquisition, Prevision.io seeks to aid Density by contributing its expertise in data science to the latter’s onboarding expertise and its analytics platform. Density’s analytics platform is a quick, data-rich system that offers the most comprehensive insights into how space is used, including the ability to easily compare the performance of spaces to one another or portfolio benchmarks.
The team of Prevision.io engineers will stay in Paris. Moreover, the presence of the team will further aid Density’s global outreach to EMEA (Europe, the Middle East and Africa). J C Groon, Managing Director of International, who earlier joined Density in March, will lead the operations.
What the Density founder has to say
Andrew Farah, CEO and co-founder of Density, said, “Our customers are already using Density globally – our sensors are deployed in 32 countries because the multinational companies we work with need insights into all their offices, not just those in the US – so having a team based in EMEA is a natural next step. In order to make good on our mission – to measure and improve humanity’s footprint on the world – we’ll need a truly global presence, and both the Prevision team and J C will be instrumental to our future growth.”
The co-founder also took to Twitter to announce the acquisition news.
What J C Groon has to say
Speaking on the recent development, J C Groon commented, “EMEA has some of the most advanced privacy protections in the world, and given the privacy-first way in which Density has developed its technology, we’re uniquely positioned to be able to deliver rich, actionable insights to companies in the region without sacrificing employee privacy. We’ve also found customers in EMEA to be ahead of the curve in considering how their square footage impacts their carbon footprint; leaders in the region understand that measuring and optimizing the use of their physical space is a meaningful way to not only reduce overall operational costs but to improve their environmental impact as well.”
In 2014, Andrew Farah, Ben Redfield, Brian Weinreich, Jordan Messina, Robert Grazioli, and Steven VonDeak, brought Density into existence. The platform develops hardware and software that helps companies measure, analyze and optimize physical space. Its clientele boasts Fortune 1000 to high-growth tech companies and also includes Uber, Pinterest, Shopify, and Okta, as well as companies across financial services, e-commerce, and social networking. Earlier, in November 2021, the platform announced USD 125 million in Series D funding. Existing investor Kleiner Perkins led the round back then for the firm.
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