Acelab, a NYC-based platform for product selection in the building industry, raised $5.3m in funding.
The round was co-led by Pillar VC, PJC and Draper Associates, with participation from Alpaca, Steve Kaufer (Founder and former CEO of TripAdvisor), Erik Jarnryd (Former CEO of Harvey Building Products), Transcend Partners, Branagh Construction, Ken Lang, Klingenstein Fields, and Westview PE Fund.
Led by Vardhan Mehta, CEO and co-founder, and and Dave Lemont, executive chairman, Acelab is a product selection platform for the construction industry, which eases access to structured data for every building product available in the US, enabling architects, builders and contractors to select from thousands of options and make informed decisions.
The platform is currently being used by over 7,000 architecture practices around the country, including project teams at well-known firms such as AECOM, Gensler and SOM. Its product database has also grown to over 39,000 products across categories such as windows, doors, cladding, roofing and insulation.
In the spring of 2023, the company introduced a range of new capabilities for its machine learning-based platform, including:
- ProductAdvisor, a proprietary search engine for visually guiding users through the building product ecosystem.
- Project Workspace for organizing product shortlists in a personalized Project Workspace and sharing it with colleagues.
- Collaboration Portal for connecting users with an Acelab product expert or a manufacturer’s specialist for critical product information, price quotes and lead times.
FinSMEs
03/08/2023