Capmo, a Munich-based digital construction software, has secured a €5 million Series A, led by Capnamic Ventures and angels from Munich’s Center for Digital Technology and Management network. Existing investors UVC Partners and HW Capital also participated.
The German startup has created a cloud-based SaaS tool that serves as an operating system for construction sites. Legacy construction software is highly complex and built for desktop use, so for many site managers, it’s inaccessible in more ways than one.
“Who benefits from software that could do everything but can't be used by anyone," questioned Florian Biller, CEO and co-founder of Capmo.
He continued, "We believe that the industry needs an intuitive all-round solution that simplifies every step on the construction site and makes people in the construction industry enjoy their work again. That's why we're building the intuitive operating system for construction sites in Europe."
Founded in 2018, the company grew ten times its size last year. Customers and projects include Düsseldorf Airport, Frankfurt Grand Tower (the tallest residential building in Germany), the Deutsches Museum in Munich, as well as Max Bögl, the multinational construction company.
With an eye to expand outside of Germany, the startup wanted an investor with B2B SaaS expertise. That’s where Capnamic came in.
"The positive market response, Capmo's global scalability and the highly motivated team of founders make the company unique. We look forward to accompanying the founding team on its steep growth path,” says Capnamic partner Christian Siegele.
With the Series A, Capmo will continue developing its cloud-based software into a comprehensive operating system, hopefully winning over the European construction market.
Biller commented: "With this financing, we can take the decisive steps to further expand the product and the team. There is still much to be done before every construction site in Europe works efficiently and data-driven."