WeWork acquires construction tech company FieldLens

New York-based co-working company, WeWork has acquired the project management application FieldLens, which it will incorporate into its product and construction team. The terms of the deal have not been disclosed.

In a blog post, WeWork’s chief product officer David Fano noted that FieldLens will help the company manage millions of square feet of construction in the coming year.

“Today, there is information loss at every stage of the building process as real estate, design, construction, and operations are provided by a large number of disparate providers,” Fano wrote. “This results in a needless waste of materials, time, and capital at the end user’s expense.”

Fieldlens — which was founded by Doug Chambers, formerly of Tishman Construction, and Matt Sena, a Goldman Sachs analyst in 2011 and launched commercially three years later— had raised roughly $12.6 million from investors. Its backers include OpenView, SoftBank and Primary Venture Partners.

WeWork launched a new business line earlier this month— WeWork Wellness — that offers fitness classes and manages a gym.