Dublin and London-listed venture capital firm Draper Esprit has led a $40 million (€35.1 million) funding round for Finalcad, a French mobile construction platform.
The company was founded in 2012 by Jimmy Louchart, Joffroy Louchart and David Vauthrin. It provides mobile apps and predictive analytics that more easily allow construction companies to work more efficiently and collaboratively. Clients include leading construction firms such as Shimizu, Groupe Eiffage, RATP and PT PP.
"Finalcad is exactly the kind of company we invest in: a growth stage company, with a proven business model, seasoned management team, and a truly disruptive solution for a global market. We see the great opportunity ahead of us and are excited to partner with them as they build what we believe is the future of the construction industry, said Ben Tompkins, managing partner, Draper Esprit.
Other investors in the Series C funding round included existing French investors Serena, Aster and CapHorn Invest, as well as Cathay Innovation and the venture arm of CRM giant Salesforce.
Finalcad, which has raised over $60 million to date, said it intends to use the additional funding to extend their product platform from buildings and infrastructure, to energy and operations & management. The company, which currently employs 170 people, is also to hire an additional 100 employees.
