Katerra's Q2'17 mega-round tops the list. Other construction tech giants are seeing follow-on rounds and frequent funding.
As a nascent industry, construction tech has seen increasingly larger deals over time. However, the industry is dominated by a few key players that have seen frequent fundings, indicating that while investors are interested in the sector, they are consolidating their bets.
End-to-end construction management platform Katerra’s Q2’17 $130M Series C mega-round takes first place for the largest deal to-date, following the unicorn’s Series A and Series B rounds which also made the top 20 deals list. The two other construction unicorns, predictive analytics platform Uptake Technologies and construction management platform Procore Technologies, also have multiple rounds on the top deals list. Procore Technologies has seen the largest number of top deals with 4 total unique financing rounds among the top 20, the most recent of which was a $50M Series G round in Q4’16 from ICONIQ Capital that brought the company to unicorn status.
Beyond unicorns, prefab construction company Blu Homes has received 3 of the top deals, including their Series A, Series B, and Unattributed VC rounds.
A couple of the top deals have seen participation from top investors, or “smart money VCs” including sustainable cement and concrete startup Solidia Technologies and construction productivity software provider PlanGrid.
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| Rank | Company | Round | Date | Amount ($M) | Round Investors |
|---|---|---|---|---|---|
| 1 | Katerra | Series C | 4/13/17 | $130 | DFJ Growth Fund, Foxconn Technology Company, Greenoaks Capital Management, Khosla Ventures, Moore Capital Management, Paxion Capital Partners, Undisclosed Investors |
| 2 | Onshape | Series D | 9/24/15 | $80 | Andreessen Horowitz, Bolt Innovation Group, Commonwealth Capital Ventures, New Enterprise Associates, North Bridge Venture Partners |
| 3 | Viewpoint Construction Software | Private Equity | 7/25/12 | $76 | TA Associates |
| 4 | Katerra | Series B | 3/28/16 | $75.6 | Undisclosed Investors |
| 5 | Blu Homes | Series A | 6/25/13 | $65 | Brightpath Capital Partners, Skagen Group, Tim Disney, Washington Trust Investors |
| 6 | Blu Homes | Unattributed VC – II | 9/12/12 | $60 | Brightpath Capital Partners, Skagen Group, Tim Disney, Washington Trust Investors |
| 7 | Katerra | Series A | 1/25/16 | $51 | Foxconn Technology Company |
| 8 | Uptake Technologies | Series C – II | 4/7/17 | $50 | Undisclosed Investors |
| 8 | Procore Technologies | Series G | 12/8/16 | $50 | ICONIQ Capital |
| 8 | Procore Technologies | Series F | 12/30/15 | $50 | Bessemer Venture Partners, O’Connor Ventures |
| 11 | Uptake Technologies | Unattributed VC | 10/27/15 | $45 | Caterpillar, GreatPoint Ventures, Lightbank, New Enterprise Associates |
| 12 | Prescient Co | Series D | 4/25/17 | $40 | Undisclosed Investors |
| 12 | Uptake Technologies | Series C | 2/1/17 | $40 | Revolution |
| 12 | PlanGrid | Series B | 11/17/15 | $40 | Founders Fund, Northgate Capital, Sequoia Capital, Spectrum 28, Tenaya Capital, Y Combinator |
| 15 | Blu Homes | Series B | 1/2/15 | $35 | Brightpath Capital Partners, Vision Ridge Partners |
| 16 | Procore Technologies | Series F – II | 2/17/16 | $30 | Bessemer Venture Partners, O’Connor Ventures |
| 16 | Procore Technologies | Series E | 4/15/15 | $30 | Bessemer Venture Partners, ICONIQ Capital, O’Connor Ventures |
| 16 | Onshape | Series C | 3/8/15 | $30 | Commonwealth Capital Ventures, New Enterprise Associates, North Bridge Venture Partners |
| 19 | Flux Factory | Series B | 12/21/15 | $29 | Borealis Ventures, Draper Fisher Jurvetson, Far East Ventures, Obvious Ventures, South Park Ventures, Surbana Jurong, Temasek Holdings |
| 20 | Solidia Technologies | Series C | 12/4/14 | $27 | BASF Venture Capital, Bill Joy, BP Ventures, Bright Capital, Kleiner Perkins Caufield & Byers, Lafarge, Total |
*We included deals from 2012 onward and excluded drone companies from this analysis.
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