PlanGrid, a San Francisco, CA-based provider of construction field enablement software, raised $40m in series B funding.
The round was led by Tenaya Capital, with participation from Sequoia Capital, Founders Fund, Y Combinator, and Northgate Capital. In conjunction with the funding, Ben Boyer, Managing Director at Tenaya, joined PlanGrid’s board of directors.
The company will use the funds for research and development.
Since its founding 4 years ago, PlanGrid has grown into the largest digital blueprint repository in the world, storing over 30 million construction documents, and recently entered into a mobility partnership with Apple to provide more robust, end-to-end solutions for the construction field.
Led by Tracy Young, co-founder and CEO, PlanGrid provides cloud-based construction software for the field which allows plans and markups to be instantaneously shared with everyone on a project. The construction document collaboration platform lets contractors, architects, and building owners collaborate from their desktop or mobile devices across all of their project plans, specs, photos, RFIs and punchlists.
It is being used by major construction firms on more than 300,000 projects and is storing more than 30 million construction documents digitally.
The company emerged from Y Combinator in 2012.