Predict your next investment

Venture Capital
susaventures.com

See what CB Insights has to offer

Investments

150

Portfolio Exits

18

Funds

9

Service Providers

1

About Susa Ventures

Susa Ventures is an early stage technology fund investing in companies that leverage the power of data to create market-leading platforms, tools, and analytics with inherent network effects.

Susa Ventures Headquarter Location

San Francisco, California,

United States

310-413-7398

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Latest Susa Ventures News

Pulley raises $4.4M seed to shorten the construction permitting process ‘from months to days’

Jun 6, 2022

Image Credits: Co-founders Andreas Rotenberg and Charlie Jacobson / Pulley If you’ve ever had to get a construction permit, you know that the process can be very painful and time-consuming. There are many reasons for this, and they vary depending on where you are located and what you are trying to get built. Pulley is a San Francisco-based startup that wants to help speed up that process with its “purpose-built” software, and it has raised $4.4 million toward that effort. Susa Ventures led its seed round, which interestingly included participation from other investors such as BoxGroup, Fifth Wall, Suffolk Construction and South Park Commons, but also a group of high-profile angels from within the industry as well as in the tech space in general. Those angels include Procore CEO and founder Tooey Courtemanche; Nat Friedman, former CEO of GitHub; Flexport CEO and founder Ryan Peterson; Built’s Chase Gilbert; and Plaid CTO Jean-Denis Greze. Charlie Jacobson and Andreas Rotenberg started Pulley in the second half of 2021 with the goal of helping people get permits for projects of all sizes faster. And not just a little faster, but 10x faster. It’s a lofty claim, but if Pulley can well, pull that off, it could be revolutionary for the construction industry, where time is very much money. “Permitting roughly takes months,” Jacobson told TechCrunch. “Our goal is to get that down to days.” Jacobson and Rotenberg believe that permitting is slow and unpredictable “because it’s different everywhere.” The pair say that there are more than 19,000 different permitting jurisdictions in the U.S., each with their own process for interpreting and enforcing 10,000 pages of building codes. Pulley was built on the premise that these processes “are poorly documented, run via legacy software, and often change without notice.” What some people may not realize is that delays in construction permits are contributing to very large national problems such as the housing shortage, which in turn leads to higher housing costs for all. On top of that, the need to retrofit existing buildings is increasingly crucial toward efforts to combat climate change. Pulley initially is focused on the commercial space, because those projects tend to be the most complex, “but also have the most on the line,” notes Seth Berman, general partner and co-founder at Susa Ventures. Commercial construction in the U.S. alone is a $230 billion market, he adds. “Most developers hire expeditors to help streamline their permitting process,” he said. “Across all $1.6 trillion of construction, faster permitting represents a $50 billion opportunity.” Susa, Berman adds, has been investing in the proptech space for years and as such, has seen firsthand through its portfolio companies “how slow permitting limits construction growth and drives costs.”  “One of the biggest bottlenecks to any commercial or residential construction project tends to be the permitting process,” he told TechCrunch. “While many industries have been digitized, the permitting process in many jurisdictions is still analog. Pulley solves this by creating software that streamlines the process of getting permits faster. We’re really excited about what it is building to fix this mess.” If you’re wondering how tackling commercial construction can help the housing crisis, many don’t realize that multifamily construction — such as apartments or condos — is actually considered commercial property whereas single-family homes are residential. And the more time that is spent on construction, the less rental income can be made. “We’ve kicked off some larger, more complex commercial projects and are working with multifamily developers to permit hundreds of units of housing and larger apartment buildings,” Jacobson said. “Each of those represent hundreds of thousands of square feet of construction.” Pulley says it has built workflow software “purpose-built for permitting with localized intelligence for each jurisdiction.” In other words, the software is localized to each city’s unique requirements, and automates submission and status tracking. Pulley also offers its customers integrated support from a network of local permitting consultants. The startup’s software is currently in closed beta in markets across Texas, where it says construction volume has grown 30% over the last two years and permitting times are among the highest in the nation. So far, Pulley has tens of millions of dollars’ worth of construction under permitting and a “growing” waitlist of developers, architects, engineers and contractors. “We’re equipping them upfront with better data and intelligence around what the city is actually looking for and showing them a list of example comments that similar applicants have gotten from the same reviewer,” Jacobson said. “We believe we can save them at least one round — if not two or three rounds — of revision back with the city. If our data can help them save one round of revision, that can save two or three weeks off a project timeline.” Pulley currently is made up of a team of six, and is using its new capital to build out its core product, do some hiring and scale to other markets. “We’re tweaking and perfecting in Austin, Texas, and want to replicate what we’re doing there in other markets,” initially in Texas and then elsewhere in the country, Jacobson said.

Susa Ventures Investments

150 Investments

Susa Ventures has made 150 investments. Their latest investment was in SamaCare as part of their Series A on June 6, 2022.

CBI Logo

Susa Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/2/2022

Series A

SamaCare

$12M

Yes

1

6/2/2022

Seed VC

Pulley

$4.4M

Yes

1

5/16/2022

Seed VC - II

LimaCharlie

$5.45M

Yes

2

5/10/2022

Series D - II

Subscribe to see more

$99M

Subscribe to see more

10

5/10/2022

Series B

Subscribe to see more

$99M

Subscribe to see more

10

Date

6/2/2022

6/2/2022

5/16/2022

5/10/2022

5/10/2022

Round

Series A

Seed VC

Seed VC - II

Series D - II

Series B

Company

SamaCare

Pulley

LimaCharlie

Subscribe to see more

Subscribe to see more

Amount

$12M

$4.4M

$5.45M

$99M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

1

1

2

10

10

Susa Ventures Portfolio Exits

18 Portfolio Exits

Susa Ventures has 18 portfolio exits. Their latest portfolio exit was Troops on May 10, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

5/10/2022

Acquired

$99M

4

5/10/2022

Acq - Talent

$99M

3

3/29/2022

Acquired

$99M

4

3/2/2022

Reverse Merger

Subscribe to see more

$99M

Subscribe to see more

10

11/24/2021

Acquired

Subscribe to see more

$99M

Subscribe to see more

10

Date

5/10/2022

5/10/2022

3/29/2022

3/2/2022

11/24/2021

Exit

Acquired

Acq - Talent

Acquired

Reverse Merger

Acquired

Companies

Subscribe to see more

Subscribe to see more

Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Subscribe to see more

Subscribe to see more

Sources

4

3

4

10

10

Susa Ventures Fund History

9 Fund Histories

Susa Ventures has 9 funds, including Susa Ventures Opportunities II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

8/30/2021

Susa Ventures Opportunities II

$250M

2

8/30/2021

Susa Ventures IV

$99M

10

7/1/2019

Susa Ventures Opportunity Fund I

Subscribe to see more

Subscribe to see more

$99M

10

7/1/2019

Susa Ventures III

Subscribe to see more

Subscribe to see more

$99M

10

8/16/2016

Susa Ventures II

Subscribe to see more

Subscribe to see more

$99M

10

Closing Date

8/30/2021

8/30/2021

7/1/2019

7/1/2019

8/16/2016

Fund

Susa Ventures Opportunities II

Susa Ventures IV

Susa Ventures Opportunity Fund I

Susa Ventures III

Susa Ventures II

Fund Type

Subscribe to see more

Subscribe to see more

Subscribe to see more

Status

Subscribe to see more

Subscribe to see more

Subscribe to see more

Amount

$250M

$99M

$99M

$99M

$99M

Sources

2

10

10

10

10

Susa Ventures Service Providers

1 Service Provider

Susa Ventures has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

General Counsel

Service Provider

Associated Rounds

Provider Type

Counsel

Service Type

General Counsel

Partnership data by VentureSource

Susa Ventures Team

1 Team Member

Susa Ventures has 1 team member, including former General Partner, Eva Ho.

Name

Work History

Title

Status

Eva Ho

General Partner

Former

Name

Eva Ho

Work History

Title

General Partner

Status

Former

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.