TraceAir Secures $25 Million in Series B Funding to Revolutionize Construction Industry
June 10, 2024, 3:31 pm
Location: United States, California, Redwood City
Employees: 11-50
Founded date: 2015
Total raised: $33.5M
In a groundbreaking move, TraceAir, a prominent provider of site intelligence software based in Seattle, has successfully raised $25 million in Series B funding. This significant investment, spearheaded by PeakSpan Capital and bolstered by Flashpoint Venture Capital, marks a pivotal moment for TraceAir as it embarks on a mission to redefine the construction industry landscape.
Founded by the visionary quartet of Maria Khokhlova, Dmitry Korolev, Alexander Solovyev, and Nikita Ushakov, TraceAir's innovative platform offers cutting-edge solutions for homebuilders and land developers. By harnessing the power of predictive analytics and automation, TraceAir empowers construction teams to enhance their workflows, increase efficiency, and minimize errors and delays.
With an impressive client roster that includes industry giants such as DR Horton, Lennar, and Howard Hughes, TraceAir has already established itself as a trusted partner in the construction sector. The company's commitment to revolutionizing the industry through advanced technology and data-driven insights has set it apart as a leader in the field.
The recent infusion of $25 million in funding will enable TraceAir to accelerate the development and rollout of new products that will further streamline land development and homebuilding processes. By leveraging the latest advancements in construction technology, TraceAir aims to set a new standard of excellence in the industry, driving innovation and efficiency to unprecedented levels.
As the construction technology market continues to expand rapidly, with projections indicating a market size exceeding $24 billion by 2033, TraceAir is well-positioned to capitalize on this growth. With a focus on addressing key industry challenges such as workforce shortages, supply chain disruptions, and regulatory complexities, TraceAir is poised to lead the charge in shaping the future of construction.
In a statement following the funding announcement, Maria Khokhlova, co-founder of TraceAir, expressed her excitement for the company's next chapter, highlighting the transformative impact that the investment will have on the industry. Dmitry Korolev, another co-founder, emphasized TraceAir's commitment to empowering construction professionals with innovative tools that drive efficiency and sustainability.
Phil Dur, co-founder and general partner at PeakSpan Capital, lauded TraceAir's exceptional growth and innovation, underscoring the company's potential to disrupt the construction technology sector. Similarly, Tony Fedorov, partner and Head of US operations at Flashpoint Venture Capital, commended TraceAir's use of AI and machine learning to address critical challenges in land development and homebuilding.
With a clear vision for the future and a track record of success, TraceAir is poised to revolutionize the construction industry and set new standards for excellence. By leveraging technology, innovation, and a commitment to driving positive change, TraceAir is on a trajectory to reshape the way construction professionals approach their projects, ushering in a new era of efficiency and sustainability.
Founded by the visionary quartet of Maria Khokhlova, Dmitry Korolev, Alexander Solovyev, and Nikita Ushakov, TraceAir's innovative platform offers cutting-edge solutions for homebuilders and land developers. By harnessing the power of predictive analytics and automation, TraceAir empowers construction teams to enhance their workflows, increase efficiency, and minimize errors and delays.
With an impressive client roster that includes industry giants such as DR Horton, Lennar, and Howard Hughes, TraceAir has already established itself as a trusted partner in the construction sector. The company's commitment to revolutionizing the industry through advanced technology and data-driven insights has set it apart as a leader in the field.
The recent infusion of $25 million in funding will enable TraceAir to accelerate the development and rollout of new products that will further streamline land development and homebuilding processes. By leveraging the latest advancements in construction technology, TraceAir aims to set a new standard of excellence in the industry, driving innovation and efficiency to unprecedented levels.
As the construction technology market continues to expand rapidly, with projections indicating a market size exceeding $24 billion by 2033, TraceAir is well-positioned to capitalize on this growth. With a focus on addressing key industry challenges such as workforce shortages, supply chain disruptions, and regulatory complexities, TraceAir is poised to lead the charge in shaping the future of construction.
In a statement following the funding announcement, Maria Khokhlova, co-founder of TraceAir, expressed her excitement for the company's next chapter, highlighting the transformative impact that the investment will have on the industry. Dmitry Korolev, another co-founder, emphasized TraceAir's commitment to empowering construction professionals with innovative tools that drive efficiency and sustainability.
Phil Dur, co-founder and general partner at PeakSpan Capital, lauded TraceAir's exceptional growth and innovation, underscoring the company's potential to disrupt the construction technology sector. Similarly, Tony Fedorov, partner and Head of US operations at Flashpoint Venture Capital, commended TraceAir's use of AI and machine learning to address critical challenges in land development and homebuilding.
With a clear vision for the future and a track record of success, TraceAir is poised to revolutionize the construction industry and set new standards for excellence. By leveraging technology, innovation, and a commitment to driving positive change, TraceAir is on a trajectory to reshape the way construction professionals approach their projects, ushering in a new era of efficiency and sustainability.