EnterpriseWorks tennant Reconstruct, a startup that provides progress tracking and quality control solutions to construction project stakeholders, has announced $17.3 million in Series B funding.
The company entered EnterpriseWorks in 2016 and maintains its core office in Champaign.
The Reconstruct team developed a web-based platform that gathers analytics about productivity and risk for delays. The software can be used to influence decisions reguarding time and budget on construction sites.
The founders of Reconstruct are both affiliated with the Univeristy of Illinois. CSO, Derek Hoiem is a Professor of Computer Science and CTO, Mani Golparvar is a professor of Civil Engineering and Computer Science.
Reconstruct has experianced great success including a mention in Crunchbase’s 50 Hot Tech Compaines in 2019 and a feature on CNET for the Chicago Underground Mapping Project.
The infusion of capital is led by the Nemetschek Group, a leader in construction and infrastructure services.
Nemetshek Executive Board Member Jon Elliot gave the following statement to the BusinessWire “[Reconstruct is] 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”.
Chamapign-based Serra Ventures is among the list of investors.
“[The funding] will facilitate rapid acquisition of new customers in the enormous market segments of commercial development, tenant improvements, and industrial engineering,” said Reconstruct’s CEO, Zak MacRunnels.
Reconstruct has experienced continual success with a growth rate of 300% over the past 2 years. The company provides software to a wide range of customers including Pfizer and McDonalds.
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