GreenLite, a rapidly growing construction technology company, has announced that it has raised 49.5 million dollars in a Series B funding round. The round was led by Insight Partners, a global software investor, with additional support from Energize Capital and existing backers Craft Ventures, LiveOak Ventures, and Chicago Ventures.
The construction industry is facing significant challenges as demand for new projects continues to rise. Many local building departments are struggling with labor shortages, outdated processes, and growing backlogs of permit applications. These delays can slow down development and increase costs for builders and developers. To address this, more attention is being given to new technologies and policies that can expedite permitting. One of the most promising solutions is called Private Plan Review, or PPR. In this system, qualified third-party experts review building plans for code compliance, rather than relying solely on city officials. Over the past three years, nearly a quarter of U.S. states have passed legislation supporting PPR as a way to reduce delays and streamline construction.
GreenLite is currently the only company in the United States that combines regulatory expertise with artificial intelligence to deliver Private Plan Review at a national scale. Its flagship product, LiteTable, is an AI-powered digital plan review tool. LiteTable can quickly process large sets of building plans, identify potential compliance issues, and highlight relevant code requirements. It also draws from GreenLite’s extensive library of comments and guidance, which are tailored to the specific rules of different jurisdictions. This makes the review process not only faster but also more accurate and consistent.
The company has already earned the trust of nearly one hundred Fortune 500 customers. These include major retailers, real estate investment trusts, quick service restaurant chains, industrial developers, and large-scale home builders. By using GreenLite’s technology, these organizations have been able to move projects forward more quickly and reduce the time it takes to secure permits. With the new funding, GreenLite plans to expand its services into additional sectors such as lodging, logistics, and multifamily housing, further broadening its impact on the construction industry.
GreenLite was founded in 2022 by James Gallagher and Ben Allen, both of whom previously worked as executives at Gopuff. In just a short time, the company has grown to employ fifty full-time staff members. It is continuing to expand its team and is actively hiring across engineering, product development, sales, marketing, operations, and executive leadership.
How the funding will be used: This new funding will enable GreenLite to expand its reach into new industries, including lodging, industrial and logistics, clean energy infrastructure, and residential development. It will also help the company continue to enhance its artificial intelligence platform, which is designed to streamline the permitting process and make it faster and more efficient.
KEY QUOTES:
“The permitting backlog is holding back America’s ability to build at the scale and speed we need. By combining a growing database of proprietary compliance comments with advanced automation, we’re catching violations faster and providing builders, developers, and jurisdictions with the predictability and transparency they need to move projects forward, dramatically transforming the plan review and construction code compliance process.”
James Gallagher, Co-Founder and CEO of GreenLite
“GreenLite’s full-stack Private Plan Review approach delivers building permits in days, not months, and is driving growth in America’s local communities and economies. We’re thrilled to back GreenLite as it continues to partner with the commercial sector and local governments to power the future of construction permitting.”
Jeff Horing, Co-founder and Managing Director at Insight Partners
