Newmetrix Raises $3.4M for Industrial Video

Cambridge, MA based software company developing enterprise platform for video and photo content from mobile devices, GoPro™ cameras and drones

Cambridge, MA – August 3, 2015 – Newmetrix, Inc. has raised an initial round of capital to expand beyond its initial five charter customers and launch a broader private Beta program in the fall. The company is developing a platform for industrial video and photo content from mobile devices, GoPro™ cameras, and drones.

“We’re very fortunate to have partnered with leading AEC (architecture, engineering and construction) companies to define our first generation product,” said Josh Kanner, Founder and CEO. “This funding will enable us to further accelerate our product development process and open up access to an even broader audience this Fall.”

“We are generating more and more high-quality video and photography content from our project sites through the use of mobile devices, drones, and GoPro cameras,” said Corren Collura, Chief Information Officer of Suffolk Construction, one of the largest building contractors in the country. “By leveraging Newmetrix, we can handle the massive amounts of data we are generating, but most importantly we can save significant time in the field, collaborate in new ways with our partners, and provide a superior experience for our clients.”  

CommonAngels Ventures led the $3.4M financing with participation from Launchpad Venture Group and other individual investors. “We are excited to invest in Newmetrix as Josh and his team build a much-needed solution for the AEC industry to smartly collect and mine the data assets of industrial video,” said Maia Heymann, the Senior Managing Director of CommonAngels Ventures. 

“We are committed to delivering on our ‘build smart’ promise in everything we do,” added Christopher Mayer, Suffolk’s Chief Innovation Officer. “We see tremendous value in using Newmetrix as an innovative tool that will allow us to communicate and share important information about our projects more effectively with our internal and external audiences.”

About Newmetrix, Inc.

Newmetrix is building an enterprise-class SaaS platform for managing, collaborating, and analyzing industrial videos and photos wherever they come from - mobile devices, GoPro™ cameras, or drones (UAVs). Starting in the AEC (architecture, engineering, and construction) industry, the company has five Alpha customers and is launching a private Beta in the Fall of 2015. Members of Newmetrix’s founding team previously worked together to build Field Software provider Vela Systems, now known as BIM 360 Field, Autodesk’s “fastest growing product”, and also includes the Chief Creative Officer of enterprise mobility consultancy Mobiquity

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