Munich-based all-in-one construction management platform for European SME’s Capmo has nailed a $30 million Series B round. In addition to ramping up the team size, the startup plans to pump some expanding foam into the product offerings, as well as survey new European markets.
With foundations poured in 2018, Capmo is already drilling through 10,000+ construction projects, providing participants with a unified blueprint of what’s happening when and where, with what, and for how much. The ultimate goal of this heightened transparency is to ensure that even the most complex of projects are delivered on time and on budget.
CEO and co-founder Florian Biller comments, “The construction and real estate industry accounts for 10% of our gross domestic product, yet it is the second most under digitized industry in Europe. We want to change that with Capmo.”
By no means the only hammer in the toolbox, just to the north, Berlin’s Cosuno is banging on many of the same nails within the German market, quoting, “a network of over 80,000 subcontractors under its banner, making it one of the largest networks of its type in Europe.” Ultimately, this can only be good for consumers and suppliers, but a market competitor to be sure.
Lead Image: Janek Stroisch