Construction tech startup Alice Technologies raises $30m

WCN Editorial Team 15 Jun 2022 NORTH AMERICA BUILDINGS

California-based construction tech startup Alice Technologies has raised $30m through a Series B funding round, reported TechCrunch.

This round was led by Vanedge Capital and has seen participation from Bouygues, Gaingels, Access Partners, GRIDS Capital, JLL Spark and MetaPlanet.

Alice Technologies CEO René Morkos plans to use the proceeds from the funding round on hiring and product development.

Founded in 2013, the California-based firm develops software to help construction firms plan projects including bridges, tunnels, high-speed rail systems and mixed-use towers.

Alice provides tools designed to help with planning stages, right from pre-construction phase through project delivery.

Its software helps firms explore scenarios to make efficient use of project resources such as labour, equipment and materials and test their impact on project outcomes.

During the phase of execution of a project, Alice’s software enables to update project plans and help prevent delays.

Currently, its software is used by firms including Skanska, Bouygues Construction, Kajima and Shimizu.

Morkos was quoted by the website as saying: “The Alice platform is now used by large general contractors worldwide to reduce project risk, increase profitability and digitize their ‘means and methods’ of construction.

“As inflation increases, general contractors are looking for ways to build more efficiently. The Alice platform can help them to do this by optimizing schedules, protecting their margins in difficult times. During tough times, competition for new projects increases. General contractors using the Alice platform have a distinct competitive advantage in bidding, as it enables them to maximize their odds of winning profitable business.”

Vanedge Capital managing investor Paul Lee was quoted by the media outlet as saying: “In an industry that accepts major cost and schedule overruns as the norm, Alice is poised to transform the way the world builds. The Alice platform gives general contractors the ability to easily explore construction choices and chart a path that best balances risk, time and cost. This is a distinctive, high-growth business led by a uniquely qualified team, and we’re excited to support Alice’s growth and success.”

Alice employs over 50 people and intends to hire 20 more by the end of 2022.

So far, the company has raised $76.2m in venture capital.

 

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Image: Alice provides tools designed to help construction firms in planning stages, right from pre-construction phase  through project delivery. Credit: giovanni gargiulo from Pixabay.

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