Smartvid.io, an AI-powered construction safety platform, has raised a $5 million round of new funding from Sony Innovation Fund (SIF) and IA Capital Group. Joining the round were prior investors, Building Ventures, Companyon Ventures and Converge, among others.

Smartvid.io is an AI-powered construction safety platform that significantly reduces jobsite risk and overall project cost by combining the best of human and artificial intelligence. Smartvid customers use the metrics and predictive analytics to reduce incident rates and claims, negotiate preferential insurance rates from their carriers, and win new business.