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WeWork has acquired venture-backed Fieldlens

WeWork, the seven-year-old, New York-based co-working juggernaut that more recently entered into the business of co-living, has been making a series of small acquisitions with some of the $1.8 billion that it has officially gathered up so far from investors.

Its latest acquisition: FieldLens,  a 5.5-year-old mobile communication system for the construction industry that aimed to replace calls, texts, emails and all the other back of forth that’s typically sent between building owners, contractors, subcontractors, architects and everyone else involved in a construction project.

WeWork was already one of Fieldlens’ biggest customers and as an early adopter, says WeWork’s chief product officer, David Fano in a newly posted blog about the acquisition, the company has “seen first-hand what connected front-line teams can accomplish.”

(In the past, WeWork signed traditional lease agreements with landlords. But according to our recent interview with CEO Adam Neumann, as the company has grown, more landlords have agreed to pay for WeWork to design the spaces into which it’s moving; in exchange, the sides split profits down the middle. This is especially true in India and Israel, where WeWork has entered more recently, Neumann says.)

The companies aren’t sharing financial details, but a source close to WeWork says the company has brought aboard all of Fieldlens’s twenty-five employees, minus several sales reps.

According to Crunchbase, New York-based Fieldlens — which was founded by by Doug Chambers, formerly of Tishman Construction, and Matt Sena, a Goldman Sachs analyst — had raised roughly $12.6 million from investors. Its backers include OpenView, Softbank, and Primary Venture Partners.

Others of WeWorks’ previous acquisitions include Welkio, a digital sign-in system for guests at an office, picked up last year; and Case, a building information modeling and consultancy firm. Terms of those deals were not disclosed, either.

Asked what will happen to Fieldlens’s current product, which is used by thousands of customers in the building trade, we’re told WeWork has no immediate plans to either change or sunset it.

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