GreenLite, a construction technology company making permitting faster and more predictable for builders, developers, and municipalities, announced a Series A funding round of $28.5 million, led by Craft Ventures with participation from 53 Stations, Trust Ventures, and LiveOak Ventures. This new funding round is taking place less than a year after GreenLite’s launch from stealth.
The funding will enhance its technology platform and Private Plan Review offering, expand into new markets and customer segments, and deepen its work with local government agencies.
The traditional construction permitting processes entail complicated applications and extremely unpredictable timelines for builders, developers, business owners, cities, and residents. And the pandemic aggravated this issue, with local governments focusing on more pressing priorities, leaving permit applications on the back burner while costing the economy billions of dollars a year.
GreenLite’s technology and Private Plan Review service standardize and automate the entire permitting process (not just the permit application) across all jurisdictions, reducing the time and labor required for plan review by 75% per project. And as the only software-first Private Provider in the market, this full-stack approach ensures that developers and cities benefit from modern tools that facilitate faster, more organized, and more predictable construction permitting.
GreenLite’s platform is unique as it integrates construction drawings, zoning and use data, local building code, and expert compliance markup in one database. And the digital combination allows GreenLite to surface recurring local compliance patterns, saving time for reviewers and developers alike by catching non-compliance more efficiently and providing both sides with automated insights that feed earlier into the design process.
GreenLite works with various Fortune 500 retailers, quick-service restaurants, developers, and production home builders today. Its Private Plan Review service produces important code compliance data at the local level and has generated tens of thousands of individual compliance comments to date. The Private Provider industry has grown upwards of 700% over the past five years and will continue to mature as companies like GreenLite expand their support of the public and private sectors.
KEY QUOTES:
“Across the U.S., there are 20,000 different jurisdictions with 500,000 different forms and application processes for building permits. This is cumbersome because 95% of applicable building code across jurisdictions is the same. As a Private Provider, we consolidate these administrative differences and give developers the opportunity to work with one privatized regulatory agency – in this case GreenLite. Our approach accelerates development timelines, saves customers millions, and better serves the needs of city and county governments when compared to other construction permitting workflow software out there.”
-James Gallagher, Co-Founder and CEO of GreenLite
“The most passionate and driven founders have lived through the pain of the problem they’re solving for – this is the case with GreenLite founders James and Ben. They care deeply about our country’s ability to build quickly and safely, whether it be infrastructure, commercial projects, or housing developments. GreenLite is an ally and partner to both the commercial sector and regulatory authorities. We support their mission to modernize the collaboration between developers, builders, and governments, with the ultimate goal of accelerating America’s ability to build.”
-Bryan Rosenblatt, Partner at Craft Ventures
“Timely delivery of new units across our family of brands is table stakes and permitting regularly presents huge challenges. GreenLite continuously helps us open new units ahead of schedule by delivering meaningful predictability and speed to a notoriously opaque and slow phase of real estate development.”
-Sumaia Alamoudi, Senior Director of Design and Project Management at Driven Brands
