Newmetrix (formerly receives $5M in funding

Construction Dive, 12/9/20


Investors for Newmetrix’s newest round of funding included Sony Innovation Fund and IA Capital Group, joined by prior investors Building Ventures, Companyon Ventures and Converge, among others.

Newmetrix’s AI interface, dubbed “Vinnie,” uses an image-based system to flag potential risks on jobsites. Partnering with Suffolk last year, Newmetrix used the contractor’s data to show Vinnie could predict roughly one in five incidents with 85% accuracy. In April, at the beginning of the coronavirus pandemic, Newmetrix enabled Vinnie to recognize when workers were not socially distancing or wearing masks on jobsites. Using cameras it’s connected to on the jobsite, Vinnie works as a virtual construction safety officer, to ensure workers follow proper protocols. 

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