Construction and real-estate industry is going through a slump from some time now. However, that hasn’t stopped the Vienna based startup PlanRadar from securing €30 million in Series A round of funding. The PropTech startup offers an easy, fast and efficient SaaS solution for digital documentation and communication in construction and real estate projects. The company’s offering is available across various platforms like Android, iOS and also via popular web browsers.
The Series A funding round for PlanRadar was led by Insight Partners and e.ventures, which is one of the largest global software investors headquartered in New York. Additionally, existing investors Cavalry Ventures, Berliner Volksbank Ventures and aws Gründerfonds also participated in the funding round. The fresh capital will be used for PropTech’s expansion into nine new territories worldwide and strengthening its standing into already-established markets.
Sander van de Rijdt, Co-CEO and co-founder of PlanRadar said: “We’ve dedicated our work to digitising an industry that remains overly reliant on pen and paper. 70% of our users’ report moving to PlanRadar from offline data collection. The sector has always suffered a reluctance to modernise on-the-ground communication, so an investment like this from such renowned investors is an indication of real belief in what we’ve created with PlanRadar.”
How PlanRadar works
PlanRadar enables a host of services for its users. Alongside viewing digital plans like blueprints, the service enables creation of tickets wherein photos, text and voice memo can be added. People added to the group also receive a direct notification when they are assigned a ticket. Different attributes can be added to a ticket such as the contractor’s name, title, priority and completion date. Annotations, plans and images can also be added, thanks to a drawing function.
The SaaS platform enables users to export project data, statistics and reports whenever they need. There’s an option to invite users to work on a project and one can also upload digital plans to the platform.
Image credits: PlanRadar
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