Factory_OS, a Mare Island, CA-based multifamily housing design company, raised $55m in Series B funding.
The round was led by Lafayette Square with participation from Autodesk, Citi, Facebook, Google, and Morgan Stanley.
The company intends to use the funds to:
- ramp up manufacturing in its second Mare Island facility;
- invest in robotic and other advanced technology initiatives for both facilities;
- expand into Los Angeles; and
- open a housing innovation center.
Led by Rick Holliday, CEO, Factory_OS takes an integrated, industrialized and tech-enabled approach to removing barriers throughout the housing development process. The company has an active research and development program and incorporates design, technology, construction and workforce innovations.
Factory_OS has built nearly 1,000 units to date. Through its partnership with the Northern California Carpenters Regional Council, the company employs 500 union workers earning competitive wages and benefits.