Fresh capital for Capmo: The Munich-based startup, founded in 2018, aims to digitize the construction industry with its cloud-based SaaS solution for digital construction execution, has raised approximately €25.5 million. With the funds from the current financing round, Capmo plans to expand its platform with additional use cases across the entire construction process, expand its team, and enter additional European markets.
Continue steep growth path
Many SMEs in the construction industry currently still rely on paper, analogue processes or outdated isolated solutions for sub-processes. Florian Biller, co-founder and CEO of Capmo, wants to change exactly that:
"The construction and real estate industry accounts for 10 percent of our gross domestic product, yet is the second least digitalized sector in Europe. We want to change that with Capmo. With this investment, we are able to continue our steep growth trajectory and support the construction and real estate industry as a digital partner. I am delighted that we can improve the everyday working lives of so many people in the industry who have not yet been able to benefit from modern software."
With Bessemer Venture Partners Capmo can bring an expert in the field of construction tech on board. The team led by partner Brian Feinstein has already led the US decacorn Procore to its IPO in recent years. Bessemer partner comments on Capmo Brian Feinstein:
"The Capmo team is at the forefront of software solutions for the construction and real estate industry in the DACH region. We are delighted to partner with Capmo on their long-term journey to modernize the construction industry in Europe."
All-in-one provider for construction project management
And Florian Biller adds:
"We are proud to have gained a strong partner in Brian Feinstein and Bessemer Venture Partners, who combine expertise in SaaS and construction tech like no other. This now puts us in the best position to expand our role as a leading all-in-one provider for construction project management in other European countries."
