($10M CAD in Series A Funding)

InnerSpace, a Toronto-based SaaS company, closed its Series A Round with $10 million CAD on August 11.

Under the leadership of CEO and Founder James Wu, the funding round was led by Yaletown Partners, with previous participants including BDC Capital (Canada) and MaRS Investment Accelerator Fund.

InnerSpace’s technology offers real-time location tracking to optimize space utilization in smart cities and large-scale enterprises.

Why we like it: InnerSpace leverages its proprietary Wi-Fi-based real-time location system (RTLS) to provide actionable insights on space utilization across various industries, all without the need for additional sensors. The platform is #GDPR compliant, #SOC2, and #iso27001 certified, ensuring robust privacy and security measures.