CraneView captures and analyzes thousands of data points to provide real-time insights on jobsite performance.
This week, construction technology firm Versatile announced it secured $20 million in Series A funding. Insight Partners and Entree Capital led the round, and were joined by investors Robert Bosch Venture Capital GmbH, Root Ventures, Conductive Ventures and construction technology entrepreneurs Leigh Jasper and Rob Phillpot.
According to Versatile — which uses machine learning and AI to optimize construction processes — the funding will enable it to rapidly scale its product across the global construction industry. “You can only improve what you can measure, and at Versatile, we are just scratching the surface of what we can do to create value for our users and use data to turn job sites into controlled manufacturing with fast feedback loops,” CEO and co-founder Meirav Oren said.
“We are thrilled to receive continued support from top-tier investors,” she continued. “This accomplishment is a testament to our industry, and I can’t wait to serve more teams, helping to make the professionals of our industry even better at what they are already great at.”
“Investing in Versatile was an easy decision, given how naturally their product fits the job site workflows, its high ROI, and their customer feedback about the value and experience of utilizing the CraneView solution.”