Sensopia Closes a $1.2M Series A Round

Gordana Davila

May 20, 2013

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Sensopia, a Montreal/San Francisco based software publisher focused on Reality Capture – the process of retrieving information about the surrounding environment onto a portable digital model – has announced 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.

MagicPlan is a unique application that proposes a disruptive approach to making floor plans. MagicPlan can automatically measure, draw and publish a floor plan, just by taking pictures with an iPhone 4, 4S, 5, iPod Touch 4 and 5, iPad 2, 3 and 4 or iPad mini. MagicPlan has nearly 4 millions unique users, it has been recognised through multiple awards, and it has been selected by Apple as “App of the week” in 93 countries.

Sensopia_Photo

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.”

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Simon Baker is the Founder and Executive Chairman of Online Marketplaces and Property Portal Watch. Involved with property portals for 15 years, he’s a well-recognized expert and industry consultant.
As former CEO/MD of the REA Group for 8 years, Simon led the group to its current market-leading position. When he joined REA Group in 2001, it had $4m in revenues, $6m in losses and an $8m market cap.
By 2008, the company presided over $155m in revenues, $35m in EBITDA and enjoyed a peak market cap of $1b. Simon is currently Chairman of the Mitula Group and Real Estate Investar and a serial portal founder and, investor.