PlanRadar, based in Austria, has landed €30 million funding for its digitalised construction and documentation for real estate projects. It has landed Series A funding from Insight Partners, along with other participants. The SaaS company will use the funding to support digitising the real estate industry, which is historically reliant on pen and paper.
Founded in 2013, the cloud-based solution solves problems in the construction and defect management sectors of real estate. The software can manage blueprints, pin any defects or tasks through personal tablets and invite collaborators to the project. This streamlines the communication flow for reports in this industry.
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 the 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.”
Thomas Krane, Principal at Insight Partners, said: “As the world of construction and property management undergoes a fundamental shift toward a digital future, PlanRadar has become a trusted partner in the industry, enabling their customers to build better buildings and ensure infrastructure works are on time and on budget. Our investment underscores the confidence we have in PlanRadar’s category-leading technology, and we look forward to supporting them as they scale up and continue their global expansion.”