On July 28, 2020, Density, a start-up building AI-powered, people-counting infrared sensors, closed a $51 million financing round. Kleiner Perkins led Density’s Series C round, with contributions from 01 Advisors, Upfront Ventures, Founders Fund, Ludlow Ventures, Launch, LPC Ventures, and individual investors Alex Rodriguez, Alex Davis, Kevin and Julia Hartz, and Cyan and Scott Banister. The infusion brings the San Francisco-based start-up’s total raised to over $74 million, following $23 million in previous funding. Wilson Sonsini Goodrich & Rosati represented Density in the transaction.
In many ways, Density’s products were tailor-made for a global health crisis. Cities around the world have imposed limits on businesses — particularly restaurants — regarding the number of customers they allow in. Density leverages depth-measuring hardware and an AI backend to perform crowd analytics that overcome the challenges posed by corners, hallways, doorways, and conference rooms. Clients like Pepsi, Delta, Verizon, Uber, Marriot, and ExxonMobil use its stack to figure out which parts of their offices get the most use and which the least and to deliver people-counting metrics to hundreds and even thousands of employees. Density co-founder and CEO Andrew Farah says the $51 million will be put toward addressing “unprecedented demand” from offices, manufacturers, grocery stores, industrial plants, and governments trying to abide by capacity limits during the pandemic.
The Wilson Sonsini team that represented Density in the transaction includes Seth Helfgott, John McGaraghan, Avi Emanuel, and Daniel Chen.
For more information, please see a Venturebeat article covering the transaction.