Austria’s PlanRadar, which digitizes construction and real estate docs, raises $70M Series B

Again in March Vienna-based PlanRadar snapped up a €30 million Sequence A to digitize development and actual property. The Austrian startup – a platform for documentation and communication in development and actual property tasks – is continuous its funding roll with a $70 million fundraising spherical co-led by Perception Companions and Quadrille Capital.

The spherical additionally drew participation from present traders together with Headline, Berliner Volksbank Ventures, aws Gründerfonds, and Cavalry Ventures, plus new traders Proptech1, Russmedia and GR Capital. 

So as to add context to that, this can be a important increase for an Austrian firm and PlanRadar claims it’s the third-largest Sequence B in Austrian historical past thus far. I’ve detailed beforehand detailed how Austria is likely one of the newer, rising tech hubs in Europe in one among my European metropolis surveys.

PlanRadar now plans new places of work within the US, Australia, the Gulf Cooperation Council (GCC), Southeast Asia, and Latin America. The corporate may even increase R&D funding and hopes to double its world headcount over the approaching 12 months.

Since launching in Vienna, Austria, in 2013, PlanRadar says it has grown revenues by over 250% and greater than doubled its buyer base to 14,500 prospects in over 60 international locations. It has launched 10 new markets throughout Europe and Russia since 2020, with places of work in Vienna, London, Amsterdam, Moscow, Paris, Madrid, Milan, Zagreb, Warsaw, and Bucharest.

Ibrahim Imam, PlanRadar Co-Founder and Co-CEO mentioned: “We’re on a mission to make development and constructing operations simpler to handle, and we’ve confirmed there’s an enormous world urge for food for our expertise.”

Thomas Krane, Principal at Perception Companions mentioned: “The PropTech sector is poised for huge progress, and PlanRadar is bringing the worldwide development and actual property business into the digital future.” 

Opponents to PlanRadar embrace Bluebeam Revu, Autodesk Development Cloud, Procore, and IBM’s TRIRIGA.