Construction tech, while still nascent, is a growing industry with funding growing 5x in 2015 alone. The category may continue to be hot as investor Conor Sen believes the construction and housing industries in the US are poised for a long boom. He writes:
The bigger business story over the next five years is, however, going to be something different: a capacity-constrained U.S. economy where the housing sector is taking “inputs,” like labor and capital, from all other sectors. Housing is set to eat the U.S. economy.
Using CB Insights and analytics, we identified 30 startups working in construction tech, and categorized them into a market map spanning 7 key emerging categories such as analytics and frontier tech applications.
Check it out below.
Our construction tech category encompasses all the software tools and platforms used by different participants in the industry including architects, developers, builders, and contractors.
Click to enlarge image below.
Collaboration Software – This was the largest category in our market map and includes tools that offer task management, job-site scheduling, and document management software to the construction industry. The category includes Fieldlens which has raised over $12M to date from investors like Openview Venture Partners, Primary Venture Partners, and Softbank Capital, among others.
Marketplaces – This category helps match clients or homeowners with contractors, architects, and/or equipment. The section includes EquipmentShare, which has raised $7.7M from Romulus Capital and Y Combinator, among others.
Data and Analytics – This section includes companies like Rhumbix which has raised roughly $6M to date from Greylock Partners and Brick & Mortar Ventures, among others.
Building/Project Information – This category counts companies like SmartBIM which provides building information solutions to players in the construction industry. SmartBIM raised roughly $1.3M in funding to date.
Frontier Tech Applications – Companies here use frontier tech — in which we include drones, AR/VR — and apply it to the construction industry. The category includes TraceAir which uses UAVs to analyze and track progress on construction sites. They raised a $250K seed round from 500 Accelerator.
Design Software – These startups offer design software to the construction industry. Flux Factory has raised more than $39M from DFJ, Obvious Ventures, Temasek and Surbana Jurong Private Limited, among others.
Financial/Project Management – This was one of the smaller categories in our map and includes Joist, a software tool for contractors that allows them to estimate, invoice, and manage projects. Joist raised an undisclosed seed round in 2015 from Accomplice and Matrix Partners.
|Construction Tech Startups To Watch|
|PlanGrid||Sequoia Capital, Tenaya Capital, and Y Combinator||Collaboration software|
|Buildertrend||Undisclosed Investors||Collaboration software|
|FieldWire||Trinity Ventures, Bloomberg Beta, and Formation 8||Collaboration software|
|Bridgit||FundersClub, Hyde Park Venture Partners and Vanedge Capital||Collaboration software|
|GenieBelt||Ditlev Bredahl and Klaus Nyengaard||Collaboration software|
|Fieldlens||Openview Venture Partners, Primary Venture Partners and Softbank Capital||Collaboration software|
|Bridge Software||Mike Braun||Collaboration software|
|Procore Technologies||Bessemer Venture Partners, Lead Edge Capital, Iconiq Capital and O’Connor Ventures||Collaboration software|
|Fieldly||Lars Dahlen, K5 Advisors and Lunds Universitets Innovation System||Collaboration software|
|BuildUp Technologies||UpWest Labs||Collaboration software|
|APE Mobile||Undisclosed Investors||Collaboration software|
|Vizerra||Leader-Innovations and Solway Investment Group||Frontier Tech Applications|
|BetterView||500 Startups, Arena Ventures, Haystack Partners, Metamorphic Ventures, MetaProp, Router Ventures||Frontier Tech Applications|
|Sensopia||Normandy Ventures, Partech Ventures and Tekton Ventures||Frontier Tech Applications|
|TraceAir||500 Accelerator||Frontier Tech Applications|
|Flux Factory||DFJ, Temasek and Surbana Jurong Private Limited||Design Software|
|Graitec||Isatis Capital and Innovation Capital||Design Software|
|Newforma||Borealis Ventures, Kodiak Venture Partners and North Bridge Venture Partners||Building/Project Information|
|Smartbim||Undisclosed Investors||Building/Project Information|
|Sweeten||Great Oaks Venture Capital, Gotham Gal Ventures, Navitas Capital and Overnight Capital||Marketplaces|
|Viirt||Dundee Venture Capital||Marketplaces|
|EquipmentShare||Romulus Capital and Y Combinator||Marketplaces|
|Getable||Andreessen Horowitz and Founder Collective||Marketplaces|
|SupplyHog||Chattanooga Renaissance Fund||Marketplaces|
|BuildZoom||8 Partners, Cota Capital, Formation 8, Founders Fund, Streamlined Ventures, Ullas Naik and Y Combinator||Data Analytics|
|BuildingConnected||Bee Partners, Brick & Mortar Ventures, Crosslink Capital, Freestyle Capital and Homebrew||Data Analytics|
|Rhumbix||Brick & Mortar Ventures, Greylock Partners, Ray Levitt and UJ Ventures||Data Analytics|
|Sitedesk||North West Fund for Digital & Creative||Data Analytics|
|Zlien||Operating Venture Capital and Brick & Mortar Ventures||Financial Management|
|Joist||Accomplice and Matrix Partners||Financial Management|
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