Reconstruct secures $17.3m for Remote Quality Control and Monitoring for Construction
Reconstruct, the leader in AI-powered remote quality control and progress monitoring software, announces its $17.3 million Series B funding round. Led by the Nemetschek Group, a global leader in construction software, along with other leading AEC companies and tech titans – EquipmentShare/Romulus Capital, STO Building Group, ThorntonTomasetti, SHoP Architects, Syska Hennessy, and Asia Pacific Land – this infusion of capital will enable Reconstruct’s integration with industry-leading software like Bluebeam and accelerate global expansion. In addition to these multi-national investors leading the round, the Company boasts 100% participation of its existing shareholders including Serra Ventures and Cultivation Capital.
Reconstruct’s CEO, Zak MacRunnels, explains: “It’s exciting to see these major AEC-affiliated companies value the transformational uniqueness of our SaaS platform. Their investment enables us to deliver our multi-patented automated detection offering that adds significant efficiencies to the workflow delivered by general contractors to owners. In addition, this will facilitate rapid acquisition of new customers in the enormous market segments of commercial development, tenant improvements, and industrial engineering.”
According to Jon Elliott, CEO of Bluebeam and Nemetschek Group Executive Board Member: “Reconstruct is unique in that they have developed a real-time platform used for small projects that use only floorplans that can also expand to meet the needs of the globe’s most sophisticated multi-billion dollar industrial and infrastructure projects with their reality-enabled 3D and 4D Visual Command Center™. Our due diligence revealed that Reconstruct’s application of AI and computer vision is best-in-class. They are tackling some of the industry’s biggest challenges and we are excited to fuel the company’s growth through this investment and by connecting them with our open partner ecosystems of Bluebeam and other Nemetschek brands.”
Willy Schlacks, CEO/Founder of EquipmentShare and General Partner of contech fund ESX, reveals what this investment is about: “The opportunity to collaborate with Reconstruct’s field mapping and AI-driven production tracking is unique and powerful. Integrated with our T3 platform, we will jointly provide enormous IoT benefits to the majority of US-based general contractors and industrial companies who look to increase efficiencies in their businesses.”
Reconstruct has continued its pace of 300% growth over the past 2 years. The Company provides its software to customers ranging in complexity from 7-Eleven and McDonalds to billion-dollar industrial operations in renewable energy and pharmaceuticals.
Pfizer utilizes Reconstruct on their production facilities around the world. Patrick Watters, Pfizer’s Director of Global Technology & Engineering, explains: “The state-of-the-art designs and schedules of our facilities are difficult to manage. When you are in a race to save lives, we can’t afford to leave anything to chance. That is why we use Reconstruct because it is the only platform that provides visibility – including measurability to sub-inch accuracy – that enables us to maintain our highest standards of quality control and enables us to discover any risks of potential delays before they happen to keep us on-time and on-budget.”