Nuvolo raises US$31 million for ServiceNow-based connected workplace platform

Nuvolo is a cloud-based interconnected workplace platform that helps companies optimize their facilities, employees, and assets. It raised $31 million in a Series C financing led by Insight Partners.

Nuvolo was established in Paramus, New Jersey in 2013 and developed an integrated workplace management system (IWMS) that covers space management, operational technology (OT) security, maintenance, field service management, etc.

Nuvolo CEO Tom Stanford told VentureBeat that the company connects facilities, human resources, IT, and real estate to a centralized platform for collecting and reporting data, “eliminating isolated business units “.

In addition, Nuvolo is built on ServiceNow’s Now platform. “This enables companies that already use the Now platform to add value to their existing investments,” Stanford added.

space

Companies can use this technology to manage office space, for example, to collect utilization data and help inform the room reservation process when employees are ready to return to the physical office. The building and facility manager can hover the mouse over a specific space to view the size of the room and calculate how many people can fit in a room, drag and drop virtual staff icons to create spaces between desks, draw one-way walking routes, and more Many.

In addition, users can generate reports and design dashboards that show how many employees have returned; analyze available space and forecast future demand; and display maintenance work by work order, cost, or response time.

The IWMS market in 2020 is expected to be 2.6 billion U.S. dollars, and this number is expected to double in four years. Other players in this field include IBM, SAP, and Accruent, the latter being acquired by Fortive for $2 billion a few years ago.

Serve immediately

Nuvolo goes beyond many traditional IWMS, covering use cases such as warehouse management and field service management. In fact, it is built locally on the ServiceNow platform, which allows companies that already use ServiceNow to easily expand into the field of facilities and real estate management. “This limits the number of solutions you need to manage things like space and maintenance, but you can also get powerful analysis from one solution for the entire enterprise,” Stanford explained.

Nuvolo can also integrate with many enterprise applications in the financial and human resources fields, including Oracle, SAP, Workday, Lawson, and Microsoft Dynamics.

Nuvolo had previously raised approximately US$25 million. The bank still has US$31 million and is well-funded to implement the so-called “active innovation roadmap”, which includes plans to triple its global headcount in the next two years and shorten its initial product plan from 2.5 years to no To 15 months.

Its latest financing is carried out in a series of activities in the field of smart buildings. San Francisco-based VergeSense recently raised $12 million to introduce workplace analysis into physical spaces, and Density, Infogrid, and OpenSensors have been in the past few months. Raised funds. Although Nuvolo is a different proposition, it is setting out to achieve a similar goal of using data to help companies manage their physical space and assets more effectively. Nuvolo integrates with many of these products, including building automation systems (BAS), sensors, badge systems, and parts ordering systems.

Nuvolo claims that many large organizations are clients in healthcare, life sciences, financial services, and the public sector. However, it can only disclose a few names at will, including InterMed Group; Parkland Health and Hospital; and Indian Health Service, a division of the U.S. Department of Health and Human Services.