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Having deep roots in the construction industry, the company's founding team is aware of the many challenges that the industry faces. Proceeds from the investment round will be by the company to continue its efforts to build innovative products that provide solutions to some of those pain points
Fremont, CA: Automated site capture software StructionSite secured USD 7 million in a Series A round of financing led by D20 Capital, with participation from Prelude, CEMEX Ventures, 500 Startups, Obayashi Corporation, and several industry-defining Angel Investors. Having deep roots in the construction industry, the company's founding team is aware of the many challenges that the industry faces. Proceeds from the investment round will be by the company to continue its efforts to build innovative products that provide solutions to some of those pain points.
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[vendor_logo_first]"This new investment ultimately means we have an expanded capacity to deliver an amazing customer experience while also having the resources to build new and unique products that solve serious business problems," said StructionSite Chief Executive Officer Matt Daly. "It's not a coincidence that several of our investors have roots in construction, meaning they have a long-term stake in making our industry better. It is our honor to be partnered with both investors and customers who share our vision to optimize construction project performance, fueled by reality capture data and artificial intelligence."
StructionSite is an automated site capture software that uses cameras and artificial intelligence to track installs on a construction site automatically. The company has been playing an essential role in aiding the construction industry during uncertain times. Following the lockdown orders, StructionSite announced it would offer free access to its site documentation platform for 60 days to any company that needs to document their job sites during this time quickly. Companies that choose to stop using the platform after 60 days will have the ability to fully export their project data (drawings and hyperlinked 360 photos) to an offline format for archiving.
"As the construction industry experiences a new set of challenges as a result of COVID-19, our partners at StructionSite are increasing the ability to track progress on-site, helping contractors avoid risk while keeping projects moving," said Kris Lengieza, Sr. Director of Business Development at Procore. "Connecting into the Procore platform provides one place for project teams to work together with an integrated set of construction applications that are mobile-ready for the field."
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