Reconstruct Raises $17.3M Series B to Advance Construction Management
7/13/2021 4:37:29 PM
Reconstruct Inc., a leader in AI-powered remote construction management solutions, has raised $17.3 million in a Series B funding round. The company provides remote quality control and progress monitoring software, allowing construction project stakeholders to have more efficient workflows.
A graduate of the Research Park’s EnterpriseWorks incubator, Reconstruct was founded in 2016 by several Grainger Engineering faculty, including Illinois CS professor Derek Hoiem. Hoiem currently serves as the company’s chief science officer.
According to Reconstruct’s press release, this funding round was led by Nemetschek Group, a global leader in construction software, along with other leading architecture, engineering, and construction (AEC) companies: EquipmentShare/Romulus Capital, STO Building Group, ThorntonTomasetti, SHoP Architects, Syska Hennessy, and Asia Pacific Land.
Reconstruct says that the investment will enable it to integrate with software like Bluebeam’s Revu, a markup and collaboration solution that’s widely used in the construction industry.
According to Jon Elliott, CEO of Bluebeam and Nemetschek Group Executive Board Member, “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.”