Leading European digital field management platform, PlanRadar, has just secured over €60 million in one of Austria’s largest-ever B2B Series B funding rounds.
The funding was led by Insight Partners and Quadrille Capital with participation from existing investor Cavalry Ventures. Additional participants included returning investors Headline, Berliner Volksbank Ventures, and aws Gründerfonds, along with new investors Proptech1, Russmedia, and GR Capital.
Launched in Vienna in 2013, PlanRadar has quickly positioned itself as a leading proptech solution in Europe. The startup offers a full-service construction and real estate management platform known for adding value at every stage of the building lifecycle.
In March 2020 the company raised €30 million and since then has grown strength to strength – PlanRadar saw revenue increase by over 250% and has more than doubled its customer base. Its innovative solution is now trusted by 14,500 customers and used daily by 100,000 industry professionals in over 60 countries to drive project efficiencies and ensure high-quality completion.
The proptech startup’s rapid growth has been enabled by a commitment to global expansion, including launching in 10 new markets across Europe and Russia since 2020. The company’s diverse team of 200+ employees serves customers in over 20 languages from offices in Vienna, London, Amsterdam, Moscow, Paris, Madrid, Milan, Zagreb, Warsaw, and Bucharest.
Ibrahim Imam, PlanRadar co-Founder and co-CEO, said: “We’re on a mission to make construction and building operations easier to manage, and we’ve proven there’s a huge global appetite for our technology.”
The new funding will support PlanRadar as it doubles down on international expansion and technological development. New offices are set to open in the United States, Australia, the Gulf Cooperation Council (GCC), Southeast Asia, and Latin America. The company will also boost R&D investment, creating a new tech hub and a dedicated product innovation team to bring sector-defining new technologies to its game-changing SaaS platform. In total, PlanRadar will create over 200 new jobs, nearly doubling its global headcount over the coming 12 months.
Co-founder and co-CEO, Sander van de Rijdt, said: “By growing PlanRadar into the world’s leading PropTech platform, we’re transforming an industry that has historically been reluctant to go digital. We’re showing that if you give customers an intuitive platform that makes their jobs easier, and combine it with gold-standard support services, then they are eager to embrace cutting-edge solutions. It really is as simple as that.”