PlanRadar, an Austrian B2B PropTech company, has announced a $69 million Series B funding round. The investment was co-led by Insight Partners and Quadrille Capital, with substantial participation from existing investor Cavalry Ventures. New investors Proptech1, Russmedia, and GR Capital also joined the round.
The funds will support PlanRadar’s international expansion and technological development. The company plans to open new offices in the United States, Australia, the Gulf Cooperation Council (GCC), Southeast Asia, and Latin America. Additionally, PlanRadar will invest in research and development, establishing a new tech hub and a dedicated product innovation team. This expansion will create over 200 new jobs, nearly doubling the company’s global workforce over the next year.
Since its inception in Vienna, Austria, in 2013, PlanRadar has become a leading PropTech solution in Europe. Its platform, which supports construction and real estate management, is now used by 14,500 customers and 100,000 industry professionals across more than 60 countries. The company’s revenue has increased by over 250% in the 18 months following its $34 million Series A round.
PlanRadar’s growth has been driven by its commitment to global expansion and continuous innovation. The company has launched in ten new markets across Europe and Russia since 2020, and its diverse team of over 200 employees serves customers in more than 20 languages.
The recent funding round reflects the company’s ongoing efforts to innovate its core platform, including the addition of new reporting, integrations, and BIM technologies. According to Ibrahim Imam, PlanRadar Co-Founder and Co-CEO, the company aims to simplify construction and building operations through its technology. His co-founder, Sander van de Rijdt, emphasized the industry’s need for intuitive digital solutions.
Thomas Krane, Managing Director at Insight Partners, praised PlanRadar’s sustainable growth and commitment to customer, revenue, and talent development. Brice Delome, Partner at Quadrille Capital, highlighted the company’s strong understanding of customer needs and its role in digitizing the construction and real estate sectors.
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By Proptechbuzz
By Ravi Kumar