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Nuvolo, a cloud-based connected workplace platform that assists organizations optimize their facilities, employees, and assets, has raised $31 million in a series C round of funding led by Insight Partners.
Founded out of Paramus, New Jersey in 2013, Nuvolo develops an integrated workplace management technique (IWMS) spanning space management, operational technologies (OT) safety, upkeep, field service management, and more.
The firm connects many departments, such as facilities, HR, IT, and genuine estate, with a single centralized platform for collecting and reporting on information that “eliminates siloed business units,” Nuvolo CEO Tom Stanford told VentureBeat.
Moreover, Nuvolo is constructed on top rated of ServiceNow’s Now platform. “This gives enterprises already using the Now platform the ability to add value to their existing investment,” Stanford added.
Spaces
Businesses can use the technologies to handle workplace space, for instance, gleaning utilization information and assisting inform space reservation processes as workers prepare to return to physical offices. Building and facilities managers can hover more than precise spaces to see the size of rooms and figure out how several individuals could match into a space, drag-and-drop virtual employee icons to build space involving desks, map out one-way walking routes, and more.
Additionally, customers can create reports and design and style dashboards that show how several staff are returning analyze obtainable space and forecast future specifications and show upkeep jobs by work orders, expense, or response instances.
The IWMS industry was pegged at $2.6 billion in 2020, a figure that is anticipated to almost double inside 4 years. Other players in the space involve IBM, SAP, and Accruent, which was acquired by Fortive in a $2 billion deal a couple of years back.
ServiceNow
Nuvolo goes beyond several of the regular IWMS to cover use instances such as warehouse management and field services management. And the truth that it is constructed natively on the ServiceNow platform tends to make it straightforward for enterprises currently utilizing ServiceNow to extend into facilities and genuine estate management. “This limits the number of solutions you need to manage things like space and maintenance, but you are also able to get powerful analytics from one solution across your business,” Stanford explained.
Nuvolo can also be integrated with several enterprise applications across finance and HR, like Oracle, SAP, Workday, Lawson, and Microsoft Dynamics.
Nuvolo had previously raised about $25 million. With yet another $31 million in the bank, it is properly-financed to pursue what it calls an “aggressive innovation roadmap” that incorporates plans to triple its headcount globally in the next two years and condense its initial solution plans from 2.5 years to significantly less than 15 months.
Its most recent raise comes amid a flurry of activity across the sensible creating space, with San Francisco-based VergeSense lately raising $12 million to bring workplace analytics to physical spaces, and Density, Infogrid, and OpenSensors raising funds in the previous couple of months. While Nuvolo is a diverse proposition, it is setting out to reach a comparable purpose in terms of harnessing information to assist organizations handle their physical spaces and assets more efficiently. Nuvolo integrates with several of these items, spanning creating automation systems (BAS), sensors, badge systems, and components ordering systems.
Nuvolo claims a quantity of massive organizations as customers across wellness care, life sciences, monetary services, and the public sector. However, it was only at liberty to disclose a handful of names, like the InterMed Group Parkland Health & Hospital and Indian Health Service, a unit of the U.S. Department of Health and Human Services.