VCs Fund Construction Tech Startups

Date Posted: October 4, 2015

Posted In: Ideas,

From CB Insights: As more mobile devices make their way onto construction sites and software changes how these sites are managed, funding to construction tech startups has already set a multi-year high in 2015.

In total, construction tech startups have raised nearly $350M across more than 100 deals since the start of 2010, according to CB Insights data. Prominent VC firms including Sequoia Capital and Greylock Partners are among the investors betting on tech startups operating in the construction industry. Specifically, Sequoia led an $18M Series A round to PlanGrid, a construction app allowing contractors and architects to collaborate on project plans, specs and photos, while Greylock invested in a $6M Series A to Rhumbix, which provides a mobile platform for construction field supervision.