Flashpoint Invests in TraceAir
California, November 26th, 2021 — TraceAir, a construction site development acceleration platform, today announced that it has raised additional $5M from Flashpoint Venture Capital and other investors. With the prior funding rounds, the total capital raised by TraceAir is over $10M.
The new capital will be used to support the company’s growth in the US residential market and scale the business in the industrial, commercial, and other verticals of the construction industry. In 2021, TraceAir saw a 3x year-over-year sales growth alongside the accelerating demand for technology in the construction industry.
“The construction industry has historically been quite conservative and slow in implementing new technologies, but it started to change after the COVID outbreak. We now see that even old-school professionals get on with technology and start to use software tools to optimise their businesses in a highly competitive environment. TraceAir offers a unique solution to get control over construction projects and it’s already being used by many top homebuilders and general contractors across the US” — commented Alexander Konoplyasty, Managing Partner of Flashpoint Venture Capital.
TraceAir allows land developers, homebuilders, and contractors to track site work remotely and accelerate progress using a cloud-based platform. Easy-to-use tools, combined with 3D site surveys captured by drones, enable project owners and contractors to effectively manage projects and communicate with their teams from anywhere in the world. TraceAir provides easy-to-use software tools and data, therefore empowering the majority of the project team that allows the whole team to make quick and more effective decisions reducing unnecessary delays and budget overrun.
“We’re continuing to work toward strengthening our market leading position and maintaining the tremendous growth trajectory achieved in 2021. This additional funding will fuel our expansion with leading homebuilders and residential developers.” — Dmitry Korolev, Co-founder and CEO of TraceAir.
TraceAir’s customer base includes homebuilders, land developers, contractors, and geotechnical consultants. The platform is already used on more than 800 projects around the world. In the US, half of the top homebuilders are using TraceAir’s site development solution. The total available market for the company globally is valued at $12B with over $4B coming from the US.
TraceAir is a turnkey solution for construction site development powered by drone data and machine learning to help clients complete projects on time and within budget. Launched in 2015, the company empowers the largest home builders and grading contractors in the U.S., including Lennar, D.R.Horton, Brookfield, Fivepoint, Independent Construction Co. among others, with efficient construction automation software.