Construction planning software platform Veyor has raised US$7.5 million (A$10.6m) in a Series A.
The round was led by Marbruck Investments, supported by CoAct and existing investors Investible and SpringCapital. Veyor, founded in 2017, previously raised $2.75m two years ago in a pre-Series A.
The Sydney startup, which digitises site logistics and materials coordination, has been described as a”Uber Eats” for construction. It’s a a real-time system of record for deliveries and material flows, aligning contractors, suppliers, tenants and operators across complex projects and assets.
The funding will bolster the cloud-based logistics startup’s ongoing US expansion, including senior go-to-market hires, expanding capability platform delivery scheduling into procurement, inventory and warehoapply management, and ongoing product development.
CEO and cofounder Richard Fifita will relocate to the United States.
The US now accounts for more than 30% of Veyor’s revenue, thanks to more than 60 customers across 30+ states, with expectations that North America will deliver more than 50% of revenue within 1-2 years.
Fifita declared the funding was “a step-alter moment”.
“We’ve proven the model locally and built real momentum in the US, and now we’re scaling with intent,” he declared.
“Our ambition is to become the system of record for site logistics globally. With this capital, we’re doubling down on product depth and US expansion to build concludeuring operational infrastructure for the built environment.”
Marbruck Investments principal Prue Freestone declared Veyor’s US growth, enterprise validation and clear operational value were central to its decision to lead the round.
“Veyor has demonstrated strong product–market fit in the US, scaling with leading contractors and asset owners in a capital-efficient way,” she declared.
“The platform addresses a critical operational gap in construction, and we see a clear path for it to become foundational infrastructure for the built environment.”
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