If you work in real estate, or if you’ve set foot in an office in the last couple of years, you know something big is happening. Offices that were once packed five days a week now have entire floors sitting empty. Return to office mandates are being made, with mixed results. Corporate real estate teams are facing what is probably the most profound shift in modern history. Everything that used to drive office planning: headcount projections, lease agreements, even the basic assumption that employees would show up every day, has been completely upended.
There’s a trillion-dollar question hanging over the industry: What do we do with all this space?
This is why we’re doubling down on Occuspace. They just announced a $6M Series A to help companies, universities, and governments navigate this new reality. Shadow Ventures is proud to be part of this round led by our friends at Lewis & Clark Ventures, with participation from Okapi Ventures, Cove Fund, and Hamilton Ventures.
For an industry that’s been around for thousands of years, real estate is surprisingly light on data. Most companies are still making space decisions based on gut feeling, outdated lease agreements, and (let’s be real) a bit of wishful thinking that people will magically start showing up to the office again.
But that’s not happening.
The data shows that your average office today is only half as full as it was pre-2020. Our thesis is that the companies that will thrive during this shift are the ones that will be data-driven about their real estate. They’ll simply make smarter, more informed bets about office downsizing, hybrid policies, and workplace design.
The ones that don’t embrace this new reality? Well… good luck explaining those empty floors to your CFO.
Enter Occuspace. If you’ve ever tried to roll out an occupancy tracking system, you know how painful it can be—expensive sensors, complex IT integration, electrical install, and months of setup before you see a single useful insight.
Occuspace flips that model on its head. Their tiny sensors plug into a standard wall outlet and start collecting space utilization data within minutes. No drilling into ceilings, no retrofitting conference rooms, no privacy concerns. Just instant, real-time insights into how people are actually using a space.
We originally backed Occuspace in 2022 because they had built the most frictionless, scalable space intelligence platform out there to solve this problem. The market has responded: 100%+ YoY growth every year since 2021, with customers ranging from startups to Fortune 500 companies to top universities.
It’s also been compelling to watch the Occuspace team execute. From product to sales to strategy to recruiting, they’ve consistently outperformed expectations—sometimes seemingly doing magic to close the right deals, bring on top-tier talent, and position the company for massive growth. Our follow-on investment wasn’t just about validating the market; it was about doubling down on a team that’s proving they know how to win.
Let’s go!
