Company Overview
Trace.Space is a forward-thinking company established in 2022, specializing in AI-enhanced requirements management for complex hardware systems. The company, headquartered in Miami, Florida, operates as a privately held enterprise and maintains a small, agile team of 2-10 employees. Originally based in Latvia, Trace.Space underscores its commitment to reducing R&D costs in the engineering sectors, including automotive, aerospace, and defense.
Key Offerings and Features
- AI-Enhanced Requirements Management: Trace.Space's platform leverages AI-driven tools, enhancing the efficiency of requirements management for developing complex systems like electric and autonomous vehicles, satellites, and robotics.
- Seamless Collaboration and Editing: The platform offers document editing akin to familiar word processors, facilitating real-time collaboration with robust traceability and custom versioning across various departments and companies.
- Security and Compliance: Emphasizing security and compliance, Trace.Space supports its offerings with SOC 2 Type II audits, enhanced encryption, and strict access controls.
- Smart Import and Semantic Search: AI-driven semantic search and smart import features transform data into structured items, reducing errors and increasing productivity.
- API for Custom Workflow: The company provides an accessible API, allowing clients to create customized workflows to meet specific organizational needs.
Leadership Team
- Janis Vavere: Co-Founder & CEO, formerly Head of Global Sales at Lokalise, leading with a vision to advance complex regulated product development.
- Mikus Krams: Co-Founder & COO, previously held significant roles at Chili Piper, instrumental in strategic growth and managing seed funding initiatives.
- Kārlis Broders: Co-Founder & CTO, leading technical development efforts focused on AI-innovations in product development processes.
Financials and Funding
Trace.Space has raised a total of $5.5 million in funding over two rounds. A notable seed round in March 2025 secured $4 million from investors like Cherry Ventures, demonstrating strong confidence in Trace.Space's innovative approach and market potential.
Market Position and Competitors
Trace.Space operates in a competitive landscape, contending with established players such as Jama Software, Valispace, and IBM Engineering Requirements Management DOORS Next. The company differentiates itself with a strong emphasis on integrating AI to deliver productivity benefits and reduce costs, targeting industries focused on new product developments in emerging technologies.
- Jama Software: Known for comprehensive toolsets and live traceability.
- Valispace: Offers integrated AI solutions tailored for hardware engineering with enhanced collaboration capabilities.
Strategic Insights
- AI-First Strategy: The core of Trace.Space's competitive advantage is its AI integration, which significantly cuts R&D expenses and streamlines processes beyond traditional methods.
- Target Industry Growth: With a focus on sectors like autonomous vehicles and advanced robotics, Trace.Space taps into burgeoning global markets, aligning with rising demands for innovative technology solutions.
Global Presence and Expansion
Originally founded in Riga, Trace.Space's relocation to Miami reflects a strategic move to expand within the U.S. market, providing access to a larger customer base and industries such as aerospace and defense.
Vision and Future
Trace.Space remains committed to transforming engineering product development by integrating AI. This vision is pivotal in aiding clients facing outdated systems, fostering competitive advantage through substantial R&D cost reductions. By continually innovating, Trace.Space positions itself as a vital catalyst for change in product design and requirements management within complex systems.
