SWAPP – a leading provider of automation software for architectural construction documents – announced the successful closing of an $11.5 million Series A funding round. And with this funding round, the company has raised a total of $18.5 million since it was founded. This investment will enable the company to further develop its innovative platform and expand its global presence in the architectural market.
SWAPPs AI-driven platform streamlines the creation and management of architectural construction documents, enabling architects to save time and resources while maintaining high-quality output. Launched by serial entrepreneurs, Eitan Tsarfati, Noam Gat, and Adi Shavit, the company is based in Tel Aviv with offices in Houston, TX, with a customer base that spans multiple verticals, including architecture firms focusing on education facilities and multi-family projects.
The Series A funding round was led by Eurazeo, a global investment firm with a track record of partnering with innovative early and growth-stage companies. And participating in the round was existing investor Entrée Capital, a venture capital firm specializing in early-stage investments in disruptive technology companies. The new investors joining the round included Activum SG Ventures, the venture investing arm of European real estate private equity fund, Activum SG, and XTX Ventures, the investment arm of leading algorithmic trading company XTX Markets.
KEY QUOTES:
“We are thrilled to have the support of our investors as we continue to transform the way architectural construction documents are created and managed. The product we developed at SWAPP tackles the unfairness I faced as an architect on a daily basis – the excessive amount of time spent on creating intricate plans, rather than concentrating on the design aspect, and the lack of compensation for the many hours I spent on each project. Our main goal is to help our customers become more productive from the moment they start using our platform”
— Eitan Tsarfati, Co-founder and CEO of SWAPP
“SWAPP has already made a significant impact in the architecture space, and we believe their innovative platform has enormous potential to drive further growth and efficiencies. We’re excited to support this team in their ambitious plans for global expansion.”
— Alice Besomi, Investment Director at Eurazeo
“We at Entrée Capital are proud to have led SWAPP’s Seed round. SWAPP’s founders possess a unique combination of deep technology knowledge and a solid understanding of their market and clients’ needs. Their success in raising the round during such a challenging macro period is a testament to the company’s outstanding performance. The SWAPP team is making a significant impact on the real estate and construction industries, and we are excited to support their continued growth.”
— Eran Bielski, General Partner at Entrée Capital
