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Autodesk Invests In Machine Learning Construction Video Firm Smartvid.Io

Jul. 14, 2017 1:16 PM ETAutodesk, Inc. (ADSK)1 Comment


  • Autodesk has participated in a $7 million financing round for construction video firm Smartvid.io.
  • Smartvid.io has developed intelligent video and photo tagging software with numerous applications for construction site and industrial markets.
  • The deal is a smart move by Autodesk, and is indicative of a more active approach to investing in and partnering with new technology companies.

Quick Take

CAD software developer Autodesk (NASDAQ:ADSK) has invested in a $7 million funding round for intelligent video company Smartvid.io.

Smartvid.io has applied machine learning technologies to enable construction companies to tag and monitor construction site activity automatically for security, safety, and progress completion milestones.

Autodesk’s investment is part of a recent increased trend for its activity with promising new technologies and startup companies that can affect its business operations.

Investee Company

Cambridge, Massachusetts-based Smartvid.io was founded to save construction process and risk managers time by automatically classifying construction and industrial activity from video and still photos. The system also helps organize content to help companies retain field documentation and glean insights from activities.

Management is headed by Josh Kanner, who founded the firm in 2015 and previously founded Vela Systems, a construction project software firm that he sold to Autodesk in 2012. Autodesk also invested in Vela Systems before it acquired the firm.

Below is a brief video on Smartvid.io’s system:

(Source: Smartvid.io, Inc.)

According to a report, Smartvid.io currently has approximately 10 customers, but two of those customers, Suffolk Construction and Skanska, are large construction companies.

Notably, in February 2017, Autodesk and Smartvid.io partnered to integrate Smartvid.io’s machine learning and tagging system with Autodesk’s BIM 360 Field safety software to make videos and images searchable for safety and risk management purposes.

Investment Terms and Rationale

In addition to Autodesk, investors in the current deal included Converge, Stage 1 Ventures, Launchpad Venture Group, Borealis Ventures, and Castor Ventures.

Post-money valuation was not disclosed, although given Smartvid.io’s early stage of development, it is likely under $40 million.

The support of Autodesk is an important development for Smartvid.io’s potential in the marketplace since Autodesk is a well-known and highly regarded name in project design software.

Smartvid.io CEO Kanner’s previous relationship with

This article was written by

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