money moves

Houston-based construction software startup closes $15M in funding round

Houston-based SiteAware has raised $15 million in its latest round of funding. Photo courtesy of SiteAware

A Houston startup that provides artificial intelligence-enabled verification software to the construction industry has closed its series B round.

SiteAware raised $15 million in the round, which was led by Singapore-based Vertex Ventures Israel. Existing investors Robert Bosch Venture Capital GmbH, Axon Ventures, Oryzn Capital, The Flying Object, and lool Ventures also contributed to the round.

The company's digital construction verification, or DCV, platform uses AI and digital twin technology to provide real-time verification of construction fieldwork. According to a press release from SiteAware, the construction industry represents a $1.3 trillion market share of the United States economy.

"SiteAware's DCV error prevention technology is disrupting the construction industry by dramatically accelerating schedules and streamlining work processes for all parties. In the next few years, everyone from contractors to developers will be using DCV to build without rework," says Zeev Braude, CEO of SiteAware, in a news release. "DCV gives the construction ecosystem access to data they've never had before, data that holds the key to the next jump in productivity for the industry."

The company, founded in 2015 by Braude and CTO Ori Aphek, closed its series A round at $10 million in October of 2020. The company will use the fresh funds continue its software's growth and presence in the market.

"As the first mover in this new category, SiteAware is blazing a trail for the entire construction industry, allowing the sector to leverage technologies that will ultimately make it more efficient, more transparent and smarter," says Emanuel Timor, general partner at Vertex Ventures, in the news release. "We look forward to working closely with the team at SiteAware as it expands its footprint and deepens its work with industry leaders around the world."

According to the release, SiteAware saw a 3X revenue growth in 2021.

Trending News

Building Houston

 
 

This week's roundup of Houston innovators includes Asma Mirza of Steradian Technologies, Sahar Paz of Own Your Voice, and Emily Cisek of The Postage. Photos courtesy

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from health tech to software — recently making headlines in Houston innovation.

Asma Mirza, founder and CEO of Steradian Technologies

Asma Mirza joins the Houston Innovators Podcast to explain how a pandemic pivot turned into a global health opportunity. Photo courtesy

It took a global pandemic for Asma Mirza to see a gaping hole in modern health care: Quick and affordable diagnostics tools. She founded Steradian Technologies in 2018, originally to create human super-sight via proprietary optics. In early 2020, the company was getting ready to start testing the device and fundraising. Then, the pandemic hit, knocking the company completely off course.

Co-founder and CEO of the company, Mirza, says on last week's Houston Innovators Podcast that the Steradian co-founders discussed how their optic technology could detect diseases. Something just clicked, and the RUMI device was born.

"We are from Houston, Texas, which is one of the most diverse and accessible cities in the country, and we were having trouble with basic diagnostic accessibility. It was taking too long, it was complicated, and people were getting sick and didn't know if they were positive or negative," Mirza says on the show. "That's when we pivoted the company and decided we were going to pivot the company and use optics to detect diseases in breath." Click here to read more.

Sahar Paz, CEO of Own Your Voice Strategy Firm

A Houston expert shares how to improve on communication in the health care setting. Photo courtesy

Emotional intelligence is a major part of running a business — but its crucially more important in the health care space, according to Sahar Paz. She writes in a guest column for InnovationMap how to improve on communication in the health care setting — and why it is necessary to provide a high level standard of care.

"Health care sets up an environment for a tornado of emotions, and the rules and regulations centered around patient-provider interactions are often complex to navigate," she writes. "This leaves many on the brink of emotional exhaustion, and for survival’s sake, depersonalization with patients becomes the status quo. Feeling a disconnect with their patients is another added weight, as few get into this industry for just the paycheck – it’s the impact of helping people get healthy and stay healthy that motivates them." Click here to read more.

Emily Cisek, founder and CEO of The Postage

A Houston founder shares an analysis of relationship banking, the pros and cons of digital banking competition, and an outlook of digital banking inroads to develop relationship banking. Photo courtesy

Emily Cisek is the founder and CEO of The Postage, a tech-enabled, easy-to-use estate planning tool, and she is helping simplify estate management — something that includes working with banks. She writes in a guest column for InnovationMap how ripe for innovation the industry is.

"Digital banking firms that want to thrive in the upcoming decades are going to need to innovate in long-term financial planning products that bring their customers into a closer, more personal relationship with them," she writes. "The finance world will continue to change and develop, but the hopes, fears, and dreams of people trying to build and secure a better future for themselves and their children will remain the same for tomorrow’s customers as they were for their parents and grandparents. It is up to the digital finance industry to adapt and develop to provide the customers of today—and tomorrow— with these invaluable services and securities." Click here to read more.

Trending News