It is the third largest Series B fundraising ever in Austria and the largest for a B2B company. It also received significant participation from investor Cavalry Ventures. Other participants also include current investors such as Headline, Berliner Volksbank Ventures and aws Gründerfonds, as well as new investors Proptech1, Russmedia and GR Capital.
This new funding will allow PlanRadar to significantly increase its international expansion and technological development. New offices will open in the United States, Australia, the Gulf Cooperation Council (GCC), Southeast Asia and Latin America. The company will also increase its R&D investments with the creation of a new technology hub and a dedicated product innovation team to bring new industry-leading technologies to its revolutionary SaaS platform. In total, PlanRadar will create more than 200 new jobs, nearly doubling its global workforce over the next 12 months.
Since its launch in Vienna (Austria) in 2013, PlanRadar has quickly established itself as the leading Proptech solution in Europe thanks to its end-to-end construction and real estate management platform, renowned for creating added value at every stage of the construction cycle. life of a building. In the 18 months since its $34 million Series A round, PlanRadar has seen its revenue grow by more than 250% and its customer base more than double. Its innovative solution has earned it the trust of 14 customers, and 500 industry professionals in over 100 countries use it daily to boost project efficiency and ensure high-quality delivery.
PlanRadar's rapid growth has been driven by its commitment to global deployment, including its launch in 10 new markets in Europe and Russia since 2020. Its team of over 200 employees supports its customers in more than 20 languages from its offices in Vienna, London, Amsterdam, Moscow, Paris, Madrid, Milan, Zagreb, Warsaw and Bucharest. The company's significant growth also reflects its commitment to innovation in its core platform, including the recent addition of reporting, integrations and BIM technologies.
For Ibrahim Imam, co-founder and co-CEO of PlanRadar: “We're on a mission to make construction and building operations management easier, and we've proven that there's a huge global appetite for our technology. We are very proud of all that our team has accomplished, and we are grateful for the support of our investors in creating added value for our clients in new markets and sectors. »
For Sander van de Rijdt, co-founder and co-CEO of PlanRadar: “By making PlanRadar the world's leading Proptech platform, we are transforming an industry that has traditionally been hesitant to go digital. We're proof that if you offer customers an intuitive platform that makes their job easier, and combine it with exceptional support services, they'll be eager to adopt industry-leading solutions. It's as simple as that. »
For Thomas Krane, Managing Director of Insight Partners: “PlanRadar's sustained growth is a testament to the hard work and dedication of the team. We immediately saw the potential of PlanRadar, and the team continued to impress us with their commitment to growing their customers, revenue and talent. The Proptech sector is poised for huge growth, and PlanRadar is bringing the global construction and real estate industry into the digital future. »
For Brice Delome, partner at Quadrille Capital: “The PlanRadar team identified an unmet need when they launched in 2013, and they have harnessed their unparalleled understanding and knowledge of customers to become a true industry leader. We are delighted to continue to fund PlanRadar's rapid growth and to join a strong syndicate of investors. We were extremely impressed with the technology, the team and how PlanRadar's approach is helping to digitize the construction and real estate industry. We look forward to supporting the company's ongoing global expansion. »