---
title: "Press Release: We Closed Our $3.2M USD Seed Funding"
description: InnerSpace closed its seed funding with a total of $3.2 million USD raised. The round was led by BDC Capital's Women in Tech fund, with support from MaRS Investment Accelerator Fund, 500 Startups, Industry Ventures, and Zach Coelius’s AngelList.
image: https://blog.innerspace.io/hubfs/clark-tibbs-367075-unsplash%20(1).jpg
---

[Skip to content](https://blog.innerspace.io/press-releaseseed-funding#main-content)

 🏆InnerSpace Recognized as Deloitte’s Fast 50™ Companies-To-Watch Winner for 2024 — Learn More → 

[🏆InnerSpace Recognized as Deloitte’s Fast 50™ Companies-To-Watch Winner for 2024 — Learn More →](https://blog.innerspace.io/innerspace-recognized-as-a-deloitte-fast-50-companies-to-watch-winner-for-2024)

[![IS+logo+wordmark+-+black](https://blog.innerspace.io/hs-fs/hubfs/Templates/images/IS+logo+wordmark+-+black.png?width=602&height=107&name=IS+logo+wordmark+-+black.png "IS+logo+wordmark+-+black")](https://www.innerspace.io)

- Product 
    - [Platform](https://innerspace.io/platform)
    - [Analytics](https://innerspace.io/analytics)
    - [InnerSpace Building Performance Index](https://info.innerspace.io/innerspace-building-performance-index-workplace-performance)
    - [Wi-Fi vs. Sensors](https://info.innerspace.io/wifi-vs-occupancy-sensors)
- Solutions 
    - [Hybrid Workplace](https://innerspace.io/hybrid-workplace)
    - [Portfolio Optimization](https://innerspace.io/portfolio-optimization)
    - [Higher Education](https://innerspace.io/higher-education)
    - [Space Utilization](https://innerspace.io/space-utilization)
    - [Employee Experience](https://innerspace.io/employee-experience)
- Resources 
    - [FAQ](https://info.innerspace.io/frequently-asked-questions)
    - [Blog](https://blog.innerspace.io)
    - [Podcasts](https://info.innerspace.io/innpact-podcast)
    - [Data Analysts](https://info.innerspace.io/workplace-utilization-data-analytics-teams)
    - [Workplace Strategists](https://info.innerspace.io/workplace-utilization-workplace-strategists)
    - [HR](https://info.innerspace.io/workplace-utilization-data-hr)
    - [CRE](https://info.innerspace.io/workplace-utilization-data-cre-leaders)
    - [Finance](https://info.innerspace.io/workplace-utilization-data-finance-leaders)
    - [Facilities Managers](https://info.innerspace.io/workplace-utilization-data-facilities-managers)
    - [CEOs](https://info.innerspace.io/workplace-utilization-data-ceos)
    - [IT/Network Leaders](https://info.innerspace.io/workplace-analytics-for-it-network-leaders)
- [Pricing](https://innerspace.io/pricing)
- [Login](https://portal.innerspace.io/)
- [Watch Demo](https://info.innerspace.io/demo)

[![Talk to sales](https://no-cache.hubspot.com/cta/default/2612053/20e943d5-0374-4d71-a7aa-166d1a0e647a.png)](https://cta-redirect.hubspot.com/cta/redirect/2612053/20e943d5-0374-4d71-a7aa-166d1a0e647a)

Open Menu Close Menu

# Press Release: We Closed Our $3.2M USD Seed Funding

[News](https://blog.innerspace.io/topic/news)

We're celebrating a very exciting milestone: the closing of our seed funding. We raised $3.2M USD from some amazing investors who see our vision to make indoor location ever-present in built spaces. 

BDC Capital led this investment through their Women in Tech fund. This is one of the world's largest VC funds dedicated to women-led technology companies, and it is committed to investing $200 million over the next five years. We're excited to have their support. 

Check out the press release below to find out more about our funding and how we're working with Fortune 500 companies around the world. 

---

---

 

**InnerSpace Closes $3.2M USD Seed Funding to Bring Indoor Location to Smart Buildings**

*Company set to disrupt market with backers BDC Capital, MaRS IAF and 500Startups*

Toronto, Canada - March 26, 2019 - [InnerSpace](https://innerspace.io/), an IoT-based indoor location intelligence platform for Smart Buildings, today announced it has closed its Seed stage funding with $3.2M USD led by[BDC Capital](https://www.bdc.ca/en/pages/home.aspx)’s [Women in Technology](https://www.bdc.ca/en/bdc-capital/venture-capital/strategic-approach/pages/women-tech-fund.aspx) Fund with support from [MaRS Investment Accelerator Fund](http://www.marsiaf.com/), [500 Startups](https://500.co/), [Industry Ventures](http://www.industryventures.com/), and [Zach Coelius’s AngelList](https://medium.com/startup-grind/the-unicorn-whisperer-zach-coelius-f95c528af5b1)syndicate, among others. InnerSpace has developed the world’s first turnkey platform for indoor location. The company’s client list includes Fortune 500 technology companies, airlines, food and services organizations, sporting and entertainment facilities, and property management firms which incorporate InnerSpace smart data into employee and consumer experiences, along with their real estate and business operations.

“Indoor location data is the linchpin to creating successful, results-driven Smart Buildings solutions,” said [James Wu](https://www.linkedin.com/in/wuj3888/), CEO and cofounder, InnerSpace. “This funding enables us to expand our client base and support our development of new turnkey solutions that make deploying Smart solutions easier, faster and more cost-effective. The impact of these solutions for our customers is the ability to manage their real estate costs, improve customer sales, predict staffing requirements, retain talent and ultimately improve their bottom line.”

InnerSpace has developed the fully integrated indoor location platform aimed at Fortune 500 clients. The company uses its proprietary sensors to understand how people use an indoor space. Leveraging artificial intelligence and the company’s strength in developing mobile apps and software, the company delivers analytics, insights and predicts future behaviors of how people will use the space. The same data drives the company’s consumer and employee mobile apps which are designed to inform people about the services around them.

“Powered by our data, we provide mobile apps that empower people to make better choices, eliminate wasted time, and radically improve their overall experience within their indoor spaces” said [Cerys Goodall](https://www.linkedin.com/in/cerysg00dall/), CMO, InnerSpace. “Our workplace experience app surfaces available meeting rooms and desk space, nearby amenities, and provides turn-by-turn directions indoors to support those with accessibility needs. We are now doing the same for larger venues like sporting stadiums that want to create a superior fan experience.”

“InnerSpace has leapfrogged past the obstacles that have plagued the indoor location industry,” said [Michelle Scarborough](https://www.bdc.ca/en/bdc-capital/venture-capital/strategic-approach/our-team/pages/michelle-scarborough.aspx), Managing Director, BDC Capital’s Strategic Investments and Women in Technology Fund, one of the world’s largest funds investing in women-led tech companies. . “Its impressive roster of marquis clients and proven technology  positions the company well for continued growth and success.”

“InnerSpace is an appealing investment because of its unique platform approach,” said Michelle McBane, Director, MaRS Investment Accelerator Fund. “The company is tackling a highly complex technical problem that even companies like Google have yet to solve. InnerSpace is ideally positioned to become the indoor location of choice.”

The InnerSpace platform is currently available to customers in the US, Canada and Australia. Clients can start their own Smart Office deployment for as little as $2995 USD to gain insight into how their building is being used. For more information visit [https://info.innerspace.io/smart-office-solution](https://info.innerspace.io/smart-office-solution)

**About BDC Capital**

BDC Capital is the investment arm of BDC, the only bank in Canada dedicated exclusively to entrepreneurs. With more than $3 billion under management, BDC Capital serves as a strategic partner to Canada’s most innovative firms. It offers a full range of equity and financing solutions, for both startups and transitioning companies alike. BDC Capital helps Canadian entrepreneurs who want to scale their businesses into global champions. Visit [bdc.ca/capital](https://www.bdc.ca/en/bdc-capital/pages/default.aspx).

**About MaRS IAF**

The MaRS Investment Accelerator Fund (IAF) helps build and strengthen Ontario-based businesses in the cleantech, ICT, and life sciences & healthcare sectors. Funded by the Province of Ontario, the IAF program is managed by MaRS and delivered through the Ontario Network of Entrepreneurs. For more information and to apply, please visit marsiaf.com.

**About InnerSpace**

InnerSpace has created the world’s first turnkey indoor location platform that is designed to transform business operations.  The company’s location data platform inFINITY, gives clients unparalleled speed-to-value with it’s easy-to-install IoT sensors, out of the box analytics, and workflow initiation solutions. With InnerSpace, clients are able to put their two biggest assets - people and real estate - to work in new ways that dramatically improve the bottom line. Innerspace.io  

Share this

- [Share on LinkedIn](https://www.linkedin.com/sharing/share-offsite/?url=https%3A%2F%2Fblog.innerspace.io%2Fpress-releaseseed-funding&utm_medium=social&utm_source=linkedin)
- [Share on Twiter](https://twitter.com/intent/tweet?original_referer=https://blog.innerspace.io/press-releaseseed-funding&utm_medium=social&utm_source=twitter&url=https://blog.innerspace.io/press-releaseseed-funding&utm_medium=social&utm_source=twitter&source=tweetbutton&text=Press+Release%3A+We+Closed+Our+%243.2M+USD+Seed+Funding)

##### Accurate space utilization data through Wi-Fi?

**We'll prove it to you.**

See why industry leaders leverage InnerSpace to generate valuable insights that go beyond occupancy.

[Get a free demo today.](https://www.innerspace.io/book-a-demo)

- Share on LinkedIn
- Share on Twiter

![Isometric Mail](https://blog.innerspace.io/hs-fs/hubfs/isometric-mail-1.png?width=600&name=isometric-mail-1.png "Isometric Mail")

### Get monthly insights from InnerSpace

Sign up to the InnerCircle for more on the hybrid workforce, what’s new in smart tech, workplace strategies and more!

[Subscribe to the Innercircle](https://www.innerspace.io/innercircle-signup)

---

![InnerSpace Icon - White](https://blog.innerspace.io/hubfs/Logos/IS-icon--white.svg "InnerSpace Icon - White")

[![BOOK A DEMO](https://no-cache.hubspot.com/cta/default/2612053/ab9f69c6-fb3d-4ee5-b346-c2bfbfb518c3.png)](https://cta-redirect.hubspot.com/cta/redirect/2612053/ab9f69c6-fb3d-4ee5-b346-c2bfbfb518c3)

[Follow us on LinkedIn](https://www.linkedin.com/company/innerspace/) [Follow us on Twitter](https://twitter.com/InnerSpaceHQ) [Follow us on Instagram](https://www.instagram.com/innerspace.io/) [Follow us on Facebook](https://www.facebook.com/InnerSpaceHQ/) [Follow us on YouTube](https://www.youtube.com/channel/UCabkATj7MaDkwYPv-vc9z_Q)

Technology

- [Platform](https://www.innerspace.io/platform)
- [Analytics](https://www.innerspace.io/)
- [Beyond Occupancy](https://www.innerspace.io/beyond-occupancy-data)
- [API](https://developers.innerspace.io/#/definitions/ClientInfo)
- [Privacy](https://www.innerspace.io/privacy)
- [Security](https://www.innerspace.io/security)
- [Wi-Fi Integration](https://www.arista.com/assets/data/pdf/InnerSpace-Arista-Partnership-Overview.pdf)

Solutions

- [Hybrid Workplace](https://www.innerspace.io/hybrid-workplace)
- [Portfolio Optimization](https://www.innerspace.io/portfolio-optimization)
- [Higher Education](https://www.innerspace.io/higher-education)
- [Space Utilization](https://www.innerspace.io/space-utilization)
- [Employee Experience](https://www.innerspace.io/employee-experience)

Resources

- [Blog](https://blog.innerspace.io/?__hstc=21858660.39a4a9075129b6de4444702617973147.1664830399245.1664830399245.1664830399245.1&__hssc=21858660.2.1664830399247&__hsfp=2606713845)
- [Newsletter](https://www.innerspace.io/innercircle-signup)
- [ROI Calculator](https://blog.innerspace.io/workplace-intelligence-roi-calculator)
- [Wi-Fi vs. Sensors](https://blog.innerspace.io/why-wifi-is-the-answer-for-data-collection-than-sensors)

Company

- [About](https://www.innerspace.io/about)
- [Careers](https://www.innerspace.io/careers)
- [Contact](https://www.innerspace.io/contact)
- [Responsible Disclosure Policy](https://www.innerspace.io/responsible-disclosure-policy)
- [Terms of Service](https://www.innerspace.io/terms)

Copyright © 2023 InnerSpace Technology Inc. All Rights Reserved

[Privacy Policy](https://www.innerspace.io/privacy-policy) | [Terms of Use](https://www.innerspace.io/terms-and-conditions-of-use) | [Accessibility Statement](https://www.innerspace.io/accessibility-statement)

- ![ISO 27001 Badge](https://blog.innerspace.io/hs-fs/hubfs/ISO_27001_Final-Logo%203.png?width=1620&height=1621&name=ISO_27001_Final-Logo%203.png)
- ![GDPR Compliant](https://blog.innerspace.io/hs-fs/hubfs/GDPR.png?width=250&height=250&name=GDPR.png)
- ![GDPR Local Certified Badge](https://blog.innerspace.io/hs-fs/hubfs/GDPR%20Certified%20Badge.png?width=179&height=160&name=GDPR%20Certified%20Badge.png)

![](https://px.ads.linkedin.com/collect/?pid=598321&fmt=gif)

```json
{
  "@context" : "https://schema.org",
  "@type" : "BlogPosting",
  "author" : {
    "@type" : "Person",
    "name" : "Cerys Goodall",
    "url" : "https://blog.innerspace.io/author/cerys-goodall"
  },
  "dateModified" : "2021-09-13T16:04:30.012Z",
  "datePublished" : "2019-03-26T12:05:00.000Z",
  "headline" : "Press Release: We Closed Our $3.2M USD Seed Funding",
  "image" : [ "https://blog.innerspace.io/hubfs/clark-tibbs-367075-unsplash%20(1).jpg" ],
  "mainEntityOfPage" : {
    "@id" : "https://blog.innerspace.io/press-releaseseed-funding",
    "@type" : "WebPage"
  },
  "publisher" : {
    "@type" : "Organization",
    "logo" : {
      "@type" : "ImageObject",
      "url" : "https://blog.innerspace.io/hubfs/logo.png"
    },
    "name" : "InnerSpace"
  }
}
```

```json
{
  "@context" : "https://schema.org",
  "@type" : "Organization",
  "logo" : "https://images.squarespace-cdn.com/content/v1/59657a43414fb547f156bcd9/1530725565130-VGJI4U3OGF10Y7UII7MW/IS+logo+wordmark+-+black.png?format=1500w",
  "name" : "InnerSpace",
  "sameAs" : [ "https://www.facebook.com/InnerSpaceHQ/", "https://twitter.com/InnerSpaceHQ", "https://www.instagram.com/innerspace.io/", "https://www.linkedin.com/company/innerspace/", "https://www.youtube.com/channel/UCabkATj7MaDkwYPv-vc9z_Q" ],
  "url" : "https://innerspace.io/"
}
```

```json
{
  "@context" : "https://schema.org",
  "@id" : "",
  "@type" : "LocalBusiness",
  "address" : {
    "@type" : "PostalAddress",
    "addressCountry" : "CA",
    "addressLocality" : "Toronto",
    "addressRegion" : "ON",
    "postalCode" : "",
    "streetAddress" : ""
  },
  "image" : "https://images.squarespace-cdn.com/content/v1/61a521a1a246256a48b95cc1/f2955039-3f90-4f8d-952c-06c80520d964/IS+logo+wordmark+-+black.png?format=1500w",
  "name" : "InnerSpace",
  "sameAs" : [ "https://www.linkedin.com/company/innerspace/", "https://www.instagram.com/innerspace.io/", "https://twitter.com/InnerSpaceHQ", "https://www.facebook.com/InnerSpaceHQ/", "https://www.youtube.com/channel/UCabkATj7MaDkwYPv-vc9z_Q" ],
  "telephone" : "+1 416-846-4959",
  "url" : "https://www.innerspace.io/"
}
```