iMod Structures, a Mare Island, Calif.-based maker of modular classrooms, raised $11m in Series A funding.
The round was led by the Goldman Sachs Urban Investment Group, with participation from Laurence Pelosi, co-founder and Principal at Forty Six North Advisors. In conjunction with the funding, Sherry Wang, managing director in the Goldman Sachs Urban Investment Group, will join the iMod Structures board of directors along with Pelosi.
The company intends to use the funds to finalize renovations at the iMod Structures 100,000-square-foot factory on Mare Island in Vallejo, CA, and to expand its customer engagement and deployment team. This enables commercial scale production of iMod classrooms later this year.
Co-founded in 2009 by John Diserens, Craig Severance and Reed Walker, iMod Structures combines advanced technologies and new approaches to build pre-fabricated classrooms. These steel-frame classrooms are available in single and/or two-story configurations, and are then delivered to a school site fully assembled and ready for occupancy within days.