PlanRadar raises €30M in Series A funding round

Austrian documentation digitalization and construction and real estate projects communication startup, PlanRadar, has raised €30 million in a Series A funding round led by global software investor, Insight Partners.

Additionally, e.ventures and existing investors Cavalry Ventures, Berliner Volksbank Ventures and aws Gründerfonds also participated. 

PlanRadar, founded in 2013, is a cloud-based SaaS solution for construction documentation and defect management in real estate projects. The user uploads blueprints, can pin any defects or tasks directly via their smartphone or tablet on the blueprint, and then can share and communicate them with other project stakeholders (e.g. suppliers, owners, etc.). With this method, the whole communication and work flow is documented and can be used for reports and revision.

Thanks to this solution, companies are making cost and time savings of 60-70%, which equals to a collective €500 million across Europe and 7+ hours in admin time per week. With this new investment, the startup has the potential to fuel further global savings and promises to help scale the already successful model worldwide. The capital is earmarked for strategic expansion into nine new territories worldwide and deepening its foothold into its already-established markets.

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