
PSP Partners
444 West Lake Street Suite 3500, Chicago, IL, 60606, United States
Overview
PSP Capital Partners, LLC is a private investment firm founded by Penny Pritzker, who currently serves as the United States Secretary of Commerce. PSP Capital takes a long-term, fundamental approach to investing with partners who share its core values of integrity, discretion and candor. With a perpetual and significant capital base, PSP partners with like-minded, dynamic business owners, management teams, and entrepreneurs in a variety of strong businesses and growing industries. PSP’s founder and principals have a strong legacy and long history of owning and building businesses and its organization is differentiated by a significant and permanent capital base, speed and certainty of closing transactions, flexibility with respect to investment structures and a deep network of strategic resources.
- Total investments
- 7
- Lead investments
- 0
- Investments · 12mo
- 4
- Active investors
- 3
Investment portfolio
- Together AI
Participated · Series C · Jul 2026
Together AI is an AI neocloud founded in 2022 that offers AI-specific infrastructure and tooling to support deployment and usage of open-source models. The company says its platform has driven a tripling of open-source model usage across the industry and reports thousands of paying customers, including Cursor, Cognition, and Decagon. Financially, Together AI reported annual bookings of over $1.15 billion as of its last quarter. Its team includes co-founders Vipul Ved Prakash, Percy Liang, and Ce Zhang. Together AI has raised multiple rounds to date, including a $102.5 million Series A in 2023 and a $305 million Series B about 16 months before this Series C. The company operates amid strong VC interest in neocloud providers and infrastructure for AI model deployment.
- Higharc
Participated · Series C · Jun 2026
Higharc builds an AI-native platform that generates homes as 3D spatial data, enabling builders to automate design, estimating, sales and construction document workflows. Its AutoTranslate AI converts floorplan images into rich 3D spatial models to produce precise quantity estimates and shoppable 3D models. Customers across North America report outcomes such as compressing product development timelines from months or years to weeks or days, cutting time to community open by 25–50%, and increasing margin by 10–15%. Higharc announced expansion of its AI Estimating product to building materials distributors and a partnership with US LBM as part of that push. The company has received industry recognition, ranking in the Deloitte Technology Fast 500 and Fast Company's Most Innovative Companies of 2026. Following the Series C, Higharc has raised more than $170 million in total capital to date.
- Cinder
Participated · Series B · May 2026
Cinder develops infrastructure and tools to help platforms defend against AI-enabled online abuse such as spam, scams, deepfakes, counterfeit listings, fake reviews, and jailbreaking of AI systems. The company says its protections currently reach over 3 billion people across major products, reflecting significant deployment at scale. Founded by leaders with experience at Meta, Palantir, and the U.S. government, Cinder positions itself as providing best-in-class defensive capabilities to match increasingly accessible attacker tools. With the recently raised Series B capital, the company plans to scale its team, deploy AI agents at scale, and expand capabilities so companies of all sizes can respond to emergent AI threats. Financial details beyond the $41 million Series B were not disclosed in the article.
- Semafor
Participated · Equity · Jan 2026
Semafor operates a global digital news and events platform that has quickly diversified its revenue streams across advertising and live events. Roughly half of its 2025 revenue, reported at about $40 million, came from its events division, with the remainder generated by advertising. The company achieved profitability for the first time in 2025 after investing heavily in its events arm. Having launched with capital from strategic investors and family offices, Semafor has continued to favor this investor profile, avoiding traditional venture governance concessions such as board seats. Its new capital raise marks the company’s first priced equity round, valuing the firm at $330 million post-money. Total capital raised now approaches roughly $64 million, providing resources to further expand content offerings and scale its lucrative events franchise.
- OpenSpace
Participated · Series D · Mar 2022
OpenSpace provides jobsite capture and AI-powered analytics that stitch 360° camera and LiDAR scans to create a digital twin pinned to floor plans, typically making capture available in about 15 minutes. The system integrates into standard construction workflows, enabling remote coordination, reducing travel and miscommunications, and providing a historical record of projects. The company has expanded capture capabilities beyond 360° imagery to include 3D scans from LiDAR‑enabled iPhones and iPads and introduced ClearSight Progress Tracking to classify and quantify materials and percent complete. Since founding in 2017, customers have used OpenSpace on more than 14,000 jobsites and the platform has captured over 10 billion square feet of jobsite imagery. Led by CEO and co-founder Jeevan Kalanithi, OpenSpace plans to use new funds to continue scaling the business and develop additional AI-powered technologies. The company also recently added Alan Henricks as an independent board director alongside its existing board members. OpenSpace is described as a global leader in 360-degree jobsite capture and AI-powered analytics for construction. Its core product lets builders attach an off-the-shelf 360° camera to a hardhat, upload video to the cloud, and uses computer vision to stitch images and pin them to floor plans, creating a single source of truth. The company has expanded its offerings to include ClearSight Progress Tracking, the freemium OpenSpace Basic, and 3D Scan for LiDAR-enabled iPhones and iPads. OpenSpace reports usage on over 10,000 jobsites, with more than 500 started in the last month and over 7 billion square feet of imagery captured. Revenues have doubled or tripled each year since its 2017 founding. The company says it will continue scaling the business, widen its international footprint, and develop additional AI-powered technologies to meet growing demand. OpenSpace provides a 360° construction photo documentation and analysis platform that combines simple 360° cameras, computer vision and AI to capture complete visual records of jobsites. The platform stores imagery in the cloud to share progress and track work across projects. Customers have used the platform to capture more than four billion square feet of imagery from active construction projects across thousands of sites in over fifty countries. The company was founded in 2017 by CEO Jeevan Kalanithi and is headquartered in San Francisco, California. OpenSpace plans to expand its ClearSight analytics suite into areas such as safety management and quality control and to accelerate international expansion. Financially, the company recently raised $55M in a Series C to support these initiatives. OpenSpace provides a solution combining 360° cameras, computer vision, and AI to capture, organize, and analyze complete visual records of construction jobsites. Builders attach a small 360° camera to their hardhat, mark a starting point in the OpenSpace app, walk the site, and the software automatically captures, uploads, pins imagery to floorplans, and stitches images without manual input. Users can virtually walk through sites, track changes over time, add notes and change requests, and compare site photos side-by-side with BIM using the ClearSight analytics platform. Founded in 2017 and led by CEO Jeevan Kalanithi, the company has projects in 30 countries and customers have used the platform to capture over a billion square feet across thousands of active construction sites. Customers include Capital One, JLL, Lee Kennedy, Suffolk, and Tishman Speyer. The company raised $15.9M in Series B funding to meet demand for its remote construction technology and ClearSight analytics platform. OpenSpace is an AI-powered construction tech company that automatically creates navigable 360° photo representations of job sites. Builders attach an off-the-shelf 360° camera to their hardhat and walk the site; OpenSpace handles image capture, uploads the data to the cloud, maps images against site plans, organizes them and stitches them into a navigable photo representation that can be compared over time. The company leverages algorithms and computer vision to map and organize imagery against site plans and build a dataset of site visuals. OpenSpace plans to use new funding to scale operations, expand sales and marketing, and develop additional computer-vision-powered products that leverage its dataset. Founded in 2017 by Jeevan Kalanithi and based in San Francisco, the platform is deployed on projects exceeding $50B in total value in the United States and around the world. The company recently raised $14M in a Series A to support these initiatives.