Katerra, a Menlo Park, CA-based construction industry software company, raised $865m in Series D funding.
The round was led by the SoftBank Vision Fund with participation new investors Canada Pension Plan Investment Board (CPPIB), a private investment fund managed by Soros Fund Management LLC, Tavistock Group, Navitas Capital, DivcoWest, and others and and existing investors include Foxconn, Greenoaks Capital, DFJ Growth, Khosla Ventures, and Louis M. Bacon, the founder of Moore Capital Management, LP. In connection with the investment, Jeffrey Housenbold of SoftBank Investment Advisers will join Katerra’s board of directors.
The company intends to use the funds for the continued manufacturing expansion and for further investment in its R&D efforts.
Founded in 2015 by Michael Marks, Jim Davidson, and Fritz H. Wolff, Katerra is a technology company which leverages its own software platform to optimize every aspect of building development, design, and construction.
The global team includes leaders in design, software and building engineering, manufacturing, supply chain, and construction and has a growing number of domestic and international offices, factories, and building projects.
So far, Katerra has accumulated more than $1.3 billion in bookings for new construction, spanning the multi-family, student and senior housing, and hospitality sectors, has a global team of more than 1,300 people, opened a fully operational manufacturing facility in Phoenix, AZ with a roadmap in place for multiple additional domestic factories, including a mass timber factory in Spokane, WA.
The company’s approach and tools include:
– a vertically integrated team to provide end-to-end building services within a single partner, including architecture, interior design, engineering, material supply, manufacturing, and construction via proprietary technology that drives this integration by connecting Building Information Modeling (BIM) tools and computational design directly to its global supply chain infrastructure for ease of material ordering, manufacturing, tracking, and delivery,
– integration between factories and construction jobsites,
– a design approach combining product standardization with customization.