Find original article at: https://www.cbinsights.com/research/construction-tech-startup-market-map/
The construction tech industry spans emerging categories such as collaboration software, marketplaces, and frontier tech applications.
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Construction is an asset-heavy industry that startups and investors are increasingly recognizing as a sector primed for digitization. 2017 has already seen approximately $169M in disclosed funding across at least 25 deals to construction tech companies.
Startups in the space are attacking the industry across diverse areas such as field management and equipment and construction materials marketplaces. In particular, we have seen a surge in the applications of mobile and cloud technologies, AI and robotics, AR/VR, and CAD software towards the construction industry.
Using CB Insights’ platform, we identified 100+ startups working in construction tech, and categorized them into a market map spanning 13 key emerging categories and subcategories, including marketplaces, monitoring and safety, and design technologies. We define our construction tech category as startups working on software tools and platforms used by different participants in the industry including architects, developers, builders, and contractors.
Scroll down to read a full description of categories and a table with every startup included in our map.
Collaboration Software – This was the largest category in our market map and encompasses areas such as project and task management, digital scheduling and time tracking, bid management, takeoff, and other collaboration tools.
Marketplaces – This category helps match clients or homeowners with construction needs spanning equipment, building materials, and contractors.
Frontier Tech & Robotics – Companies here use “frontier tech” — including drones, AR/VR, and robotics — and apply it to the construction industry.
Design Technologies – This category features companies leveraging construction design technologies including using computer-aided design (CAD) and building information modeling (BIM) to create digital representations of physical building characteristics. 3D CAD platform Onshape is one company in this space, which has raised $169M to-date from Andreessen Horowitz, Bolt Innovation Group, New Enterprise Associates, among other investors.
Inventory & Supply Chain Management – This section includes companies focusing on inventory and supply chain management for the construction industry. The most well-funded company in this category is construction tech unicorn Katerra, a California-based offsite construction company streamlining the design-bid-build process, which has raised over $264M to-date from DFJ Growth Fund, Foxconn Technology Company, and Khosla Ventures, among others.
Risk Management – Companies in this category focus on various aspects of risk management including overall end-to-end risk management, compliance, and monitoring and safety solutions for the construction industry.
Data and Analytics – This section includes companies focusing on data management, predictive analytics, and other models to enhance processes and provide better intelligence to the construction tech industry. The most well-funded company here is construction tech unicorn Uptake Technologies, a Chicago-based predictive analytics platform which has raised $135M to-date from Revolution, Caterpillar, GreatPoint Ventures, and other investors.
Financial Management – This was one of the smaller categories in our map and includes Joist, a software tool for contractors that allows them to estimate, invoice, and manage projects. Joist raised a seed round in 2015 from Accomplice and Matrix Partners.
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