Attentive AI Nets $30.5 Mn To Scale Real Estate Stack

From Fibe To Smart Joules — Indian Startups Raised $127 Mn This Week

SUMMARY

Attentive.ai has raised fresh rounds in its Series B funding round led by Insight Partners, with participation from Vertex Ventures, Tenacity Ventures, and Info Edge Ventures

The Delaware-based startup plans on deploying the fresh capital to accelerate the development of its next-generation AI products and support expansion into new markets

Founded in 2017, Attentive.ai provides AI-powered take-off and bidding solutions for the construction and field-services sectors. Its flagship platform, Beam AI, automates manual measurement, enabling contractors, landscapers and outdoor-service firms to double their bid capacity and accelerate growth

SaaS-based remote property intelligence startup Attentive.ai has secured $30.5 Mn (about INR 270.5 Cr) in its Series B funding round led by Insight Partners, with participation from Vertex Ventures, Tenacity Ventures, and Info Edge Ventures.

The Delaware-based startup plans on deploying the fresh capital to accelerate the development of its next-generation AI products and support expansion into new markets. Besides, the fresh capital will further be utilised to develop its construction-focussed AI platform Beam AI and expand into international markets.

“With this funding, we’re accelerating our AI model development and product innovation across the entire preconstruction lifecycle,” Attentive.ai’s cofounder and CEO Shiva Dhawan said.

Founded in 2017 by Dhawan and Sarthak Vijay, Attentive.ai provides AI-powered take-off and bidding solutions for the construction and field-services sectors. Its flagship platform, Beam AI, automates manual measurement, enabling contractors, landscapers and outdoor-service firms to double their bid capacity and accelerate growth.

For context, the takeoff phase is a preconstruction phase for construction companies where the product managers analyse the total cost of the project along with estimating needs of materials and labour.

Its AI-native solutions have helped more than 1,200 contractors and suppliers automate manual takeoffs, streamline cost estimation and enhance productivity during the preconstruction phase. Beam AI now powers over 1,000 construction firms and 3,500 active users, having processed over 4.4 Mn acres of project sites and completed more than 365K automated takeoffs.

The majority of the company’s clientele are small businesses in the United States. Its clientele features companies like PCC, US Lawns, Juniper, Clean Scapes, Sunrise Landscapes, among others.

This latest infusion brings Attentive.ai’s total funding to $48 Mn. Nine months back, the startup last raised $12 Mn in its Series A round led by Tenacity Ventures with participation from Vertex Ventures, Peak XV Partners, and InfoEdge Ventures.

The startup is competing with the likes of Procore, PlanGrid, and Bluebeam in the global construction automation sector.

Attentive’s consecutive rounds comes at a time when the global construction space is growing at a fast pace. According to Deloitte research, the global construction market is expected to reach the $16.11 Tn mark by 2030.