Capmo, developer of the all-in-one construction management software for small and medium-sized businesses in Europe, is closing a $30m Series B financing round. The round is led by the global leading cloud and software-as-a-service (SaaS) Investor Bessemer Venture Partners, which has previously invested in companies such as LinkedIn, Shopify, Twilio and Procore. Previous investors Capnamic Ventures and UVC Partners also participated in the round.
With the funds from the financing round, Capmo will add further use cases along the entire construction process to its holistic platform. On its way to becoming the central digital platform for the construction and real estate industry, this means for Capmo not only the expansion of the product, but also the expansion of the international team and the development of further European markets. In a highly underdigitized market with enormous growth potential, Capmo aims to grow its team to 200 people by the end of next year and is well on its way to becoming the leading provider for SMEs in Europe.
On the way to category leadership in European Construction Tech
Today, Capmo is already in use on over 10,000 construction projects. The uncomplicated collaboration of all project participants as well as the possibility to control all processes, from initial planning to project completion, centrally in one system, makes it possible to successfully implement even complex construction projects on time and within budget.
Many of the more than one million small and medium-sized enterprises in the industry (European Commission, 2021), currently still rely on paper, analog processes or outdated isolated solutions for sub-processes. Florian Biller, Co-founder and CEO of Capmo, says: „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. With this investment, we are able to continue our steep growth trajectory and serve as a digital partner to the construction and real estate industry. I am very pleased that we can use this to improve the everyday working lives of so many people in the industry who have not yet been able to benefit from modern software.“
With the support of one of the most experienced global SaaS investors
With Bessemer Venture Partners, Capmo not only brings on board one of the most experienced global SaaS investors, but also a true expert in construction tech. The team around partner Brian Feinstein has already led the US decacorn Procore to IPO in recent years and sees Capmo on the way to dominate the construction tech market in Europe. „The Capmo team is at the forefront of construction software in Germany. We’re thrilled to be partnering with Capmo in their long-term journey to modernize the construction industry in Europe,“ says Bessemer partner Feinstein.
„We are proud to have won a strong partner in Brian Feinstein and Bessemer Venture Partners, who combine expertise in SaaS and construction tech like no other“, says CEO Florian Biller. „This means we now have the best prerequisites to expand our role as a leading ‚all-in-one‘ provider for construction project management in other European countries as well.“
Capmo is the holistic construction project management software for SMEs in the construction and real estate industry. The cloud-based platform allows processes across all construction phases to be digitized holistically, managed in one platform and all parties involved to be coordinated. Capmo thus enables successful project completion within the planned cost and timeframe.
The Munich-based software provider was founded in 2018. Several hundred customers and tens of thousands of users in Europe already rely on Capmo’s digital solution and implement well over 10,000 small and large projects with the software.
About Bessemer Venture Partners
Bessemer Venture Partners is the world’s most experienced early-stage venture capital firm. With a portfolio of more than 200 companies, Bessemer helps visionary entrepreneurs lay strong foundations to create companies that matter, and supports them through every stage of their growth. The firm has 130 IPOs, including Pinterest, Shopify, Twilio, Yelp, LinkedIn, Skype, LifeLock, PagerDuty, DocuSign, Wix, MindBody, and Fiverr. Bessemer’s team of investors and partners are positioned all over the world in Silicon Valley, San Francisco, New York, Boston, Tel Aviv, Bangalore, and Beijing.
Learn more at www.bvp.com.
About Capnamic Ventures
Capnamic Ventures, based in Cologne and Berlin, is one of Europe’s leading early-stage venture capital investors. The VC’s investment focus is on technology startups in German-speaking countries. In addition, Capnamic invests with international co-investors. All portfolio companies are supported by Capnamic’s global industry and expert network and the extensive expertise of the team. The Capnamic team consists of experienced investment professionals who can look back on over 80 investments, numerous trade sales and IPOs as well as their own entrepreneurial experience. At Capnamic, we work side by side with the portfolio companies to create the basis for a strong market position and lasting success. Capnamic is led by Jörg Binnenbrücker, Olaf Jacobi, Christian Knott and Christian Siegele as Managing Partners.
More information about Capnamic Ventures is available at: www.capnamic.com
About UVC Partners
Unternehmertum Venture Capital Partners (UVC Partners) is a Munich- and Berlin-based early-stage venture capital firm that invests in European B2B startups in the areas of enterprise software, industrial technologies and mobility. The fund typically invests between € 0.5 – 5m initially and up to € 20m in total per company. Portfolio companies benefit from the extensive investment and exit experience of the management team as well as from the close cooperation with UnternehmerTUM, Europe’s leading innovation and business creation center. With over 240 employees and more than 100 industry partners, UnternehmerTUM can draw from many years of experience in establishing young companies. This cooperation enables UVC Partners to offer startups unique access to talent, industry customers, and other financial partners.
For more information visit www.uvcpartners.com