TLDR:
- TraceAir, a construction site analysis company, raised $25 million in a Series B funding round led by PeakSpan Capital.
- The investment will support the development of new products to boost land development and homebuilding workflows with predictive analytics.
TraceAir, a leading provider of site intelligence software for homebuilders and land developers, recently announced a $25 million Series B funding round led by PeakSpan Capital. The funding round also included participation from Flashpoint Venture Capital and other existing investors. The company offers a visual/collaborative construction management platform that provides data-driven insights to lower costs, improve efficiency, and reduce the risk of errors and delays.
The investment will support the development and market roll-out of new products that aim to enhance land development and homebuilding workflows with predictive analytics. This move is expected to set the industry on a new level of efficiency and automation. The expanded offerings from TraceAir will cover the entire lifecycle of land development and homebuilding projects, from land acquisition and planning to construction.
Since its launch in 2015, TraceAir has grown to serve the top thirty homebuilders in over 40 states and Canada, including industry leaders like DR Horton and Lennar. The company is committed to meeting the complex business needs of builders and land developers worldwide. The construction technology market is expected to exceed $24 billion by 2033, showing significant growth potential.
