Closing of a $1.2 million Series A funding Round & Release of an SDK
Montreal / San Francisco
Sensopia announces the closing of $1.2 million round of Series A funding and the release of an SDK to embed its award-winning MagicPlan software in any application.
For the three years previous to this round of funding, Sensopia was bootstrapped by its five founding partners. “We wanted to reach real traction before raising money,” says Pierre Gaubil, CEO. “With over 4 million downloads, more than 20,000 floor-plans being created each day, and the closing of deals with major industry partners, we have more than satisfied our internal requirement for acceleration.”
This infusion of funding will be used primarily to accelerate growth and development, ensuring that anyone is able to use MagicPlan to capture and create a floor-plan in just a few minutes. Resources will be funneled into fundamental research, furthering the rendition of MagicPlan into even easier-to-use software, and enabling the capture of rooms in three dimensions.
“We are confident that in the coming year, given the energy and attention we put into research, MagicPlan will take reality capture to an entirely new level of simplicity and intuitiveness,” continues Gaubil. “These are the keys to gaining mass usage.”
In addition to research, funding will be used to spur development, with Sensopia planning to release the Android version of its software this summer, along with new and improved functionality across all platforms.
Investors include Partech International, Tekton Ventures, Normandy Ventures, and additional private investors. “We have been following Sensopia closely for the last year and a half, and believe they have the talents and commitment to disrupt and transform the floor plan market and become a very significant player” says Nicolas El Baze, General Partner at Partech International.
With this round of funding, Sensopia is also announcing today the release of its Software Development Kit (SDK). With this release, MagicPlan’s core technology may be integrated into other applications and leveraged in diverse and far-reaching market segments.
Symbility, a global software company which provides claims processing solutions for insurance companies, is one of the first customers of this technology. Richard Adair, President and COO of Symbility, explains, “The MagicPlan SDK is complementary to our current solution, filling in the gaps for us perfectly. With this SDK, an inspector can create a floor plan and complete a claims adjustment on-site with an iPad, in no time at all. It would not be a stretch to imagine that, in the future, claim management data for smaller cases could be generated by consumers, rather than the adjusters, and sent to the insurance company directly. This would, of course, lead to significant savings in both time and money.”
“Floor plans act as the cornerstone for a diverse set of businesses. The MagicPlan SDK enables other companies to access and leverage quick and easy floor plan creation technology.” Complements Pierre Gaubil “Symbility is an excellent demonstration. They combine a strong market position, an excellent product offering, and a true innovation spirit that is changing the claim processing industry.”