PlanRadar | ‘Huge global appetite’ for contech fuels $69m fundraise
Completing one of the largest funding rounds in Austrian history, digital construction management startup PlanRadar has set its sights on the US, Asia and Australia.
The platform, based in Vienna, seeks to cut mistakes and save time on construction projects by digitising fault and task management, maintenance, building inspections and documentation.
Users can, for example, track project progress with tools that pin ongoing construction activity – and on-site snags – to 2D plans or BIM models.
“We’re on a mission to make construction and building operations easier to manage, and we’ve proven there’s a huge global appetite for our technology,” said Ibrahim Imam, co-founder and co-CEO of PlanRadar.
The company will use proceeds from its recent $69m Series B fundraise to “double down” on its international expansion, targeting new offices in the US, Australia, the Gulf Cooperation Council, Southeast Asia and Latin America.
Since 2020, PlanRadar has expanded into 10 new markets across Europe and Russia and developed new tools around reporting and BIM.
Clients include CBRE, Siemens, Morgan Sindall and Cushman & Wakefield.
With new funding, the startup is also looking at creating a tech hub and a dedicated product innovation team to boost its R&D.
Sander van de Rijdt, co-founder and co-CEO of PlanRadar, said: “We’re showing that if you give customers an intuitive platform that makes their jobs easier, and combine it with gold-standard support services, then they are eager to embrace cutting-edge solutions. It really is as simple as that.”
The Series B funding round was led by Insight Partners and Quadrille Capital, with additional participation from Headline, Berliner Volskbank Ventures, aws Gründerfonds, Proptech1 Ventures, Russmedia and GR Capital.