TraceAir, a leading provider of site intelligence software for homebuilders and land developers, announced a $25 million Series B funding round led by PeakSpan Capital, with participation from Flashpoint Venture Capital and other existing investors. TraceAir offers builders and developers a visual/collaborative construction management platform that empowers businesses with data-driven insights to lower costs, improve efficiency, and reduce the risk of errors and delays.
This investment will support the development and market roll-out of new products to boost land development and homebuilding workflows with predictive analytics and to set the industry on a new level of efficiency and automation. And TraceAir’s expanded offerings will encompass the entire lifecycle of land development and homebuilding projects: from land acquisition and planning up through construction— offering unparalleled value to top builders, proving that TraceAir is the must-have partner for any developer to compete in the land-development market.
Since launching TraceAir in 2015, co-founders Maria Khokhlova, Dmitry Korolev, Alexander Solovyev, and Nikita Ushakov have grown the company to serve the top thirty homebuilders in 40+ states and Canada. Trusted by leaders like DR Horton, Howard Hughes, Lennar, and more, TraceAir is committed to meeting the complex business needs of builders and land developers worldwide.
The construction technology market is expected to exceed a market size of $24 billion by 2033, which is a major increase from $5 billion in 2023. Private equity investments in PropTech and adjacent sectors are poised to fuel this market growth in response to industry challenges like workforce and supply chain shortages, inflation, and dynamic regulation.
KEY QUOTES:
“We are thrilled to embark on this next chapter of TraceAir’s journey with the support of PeakSpan Capital and Flashpoint Venture Capital. This funding will enable us to accelerate our mission of transforming the land development and homebuilding industries through radical transparency and visual data-driven approach as well as through empowering essential workflows with innovation and technology.”
- Maria Khokhlova, co-founder of TraceAir
“Our vision is to empower construction professionals with intelligent and easy-to-use tools that drive efficiency and sustainability. With this investment, we are poised to deliver even greater value to our customers and partners.”
- Dmitry Korolev, co-founder of TraceAir
“TraceAir has demonstrated exceptional growth and innovation in an industry ripe for disruption. We are excited to partner with Maria, Dmitry, and the entire TraceAir team as they continue to pioneer advancements in construction technology.”
- Phil Dur, co-founder and general partner at PeakSpan Capital
“TraceAir’s commitment to leveraging AI and machine learning to address critical challenges in land development and homebuilding aligns perfectly with our investment thesis. We look forward to supporting TraceAir as they scale their transformative solutions.”
- Tony Fedorov, partner and the Head of US operations at Flashpoint Venture Capital
