OnsiteIQ is a construction intelligence platform developed for commercial real estate investors, developers, and owners. The company's technology aims to enhance job site transparency and manage risk across development projects. OnsiteIQ employs a network of 'capture specialists' who regularly visit client projects to record 360-degree videos of the entire job site. These videos are then automatically mapped to the project's floor plans, creating a comprehensive visual record of all active projects. The platform utilizes artificial intelligence to analyze this visual data, tracking progress across 18 major milestones, providing status updates, identifying patterns of inactivity to predict potential delays, and generating trend reports for entire portfolios.
The company's platform serves as a centralized hub for all project stakeholders, promoting transparency and offering a single source of truth for institutional investors to document projects, monitor progress, and verify payments. This is particularly valuable for developers, equity partners, and lenders with geographically dispersed investments who previously struggled to gain visibility into their entire portfolio. As of October 2023, OnsiteIQ had monitored construction projects across various property types in over 65 markets throughout the US and Canada. The company had captured more than three billion square feet of 360-degree project footage, overseeing over 1,600 projects valued at a cumulative USD 17 billion.
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