Paracosm Inc.

Paracosm Inc. is a technology company that specializes in creating 3D as-built models using advanced scanning technology integrated with Apple’s LiDAR capabilities, predominantly serving professionals in architecture and design. Founded in 2013 in Gainesville, US, Paracosm Inc. develops innovative scanning solutions for capturing physical spaces.

In November 2017, the company was acquired by Occipital Inc. as part of its strategic growth initiatives. The latest funding round took place in 2017, raising a total of USD 1. 30 mn.

Paracosm Inc. offers 3D modeling services that utilize advanced scanning technology, allowing users to scan physical spaces with iPhones and iPads to produce detailed CAD files, floor plans, and measurement reports. Their solutions are aimed at architecture, interior design, remodeling, and construction professionals, facilitating a transition from traditional measurement methods to digital scanning, thus improving operational efficiency. Paracosm generates revenue through transaction-based scanning services, primarily targeting B2B relationships in construction and design.

Clients submit space scans, for which Paracosm returns comprehensive as-built files, structured around per-scan fees or project-based pricing, based on project size and complexity. The company typically completes smaller projects under 1,000 square feet within two business days. Paracosm plans to expand its product offerings with new scanning solutions, targeting the architecture and construction sectors more aggressively by 2024. The company aims to increase its footprint in North America and Europe, utilizing the recent funding from its 2017 investment round to enhance its product development and market reach.