Construction management start-up Capmo receives 30 million US dollars

Capmo wants to digitize an industry that is still struggling to do so. The proptech has now received 30 million US dollars in its financing round, with Bessemer Venture Partners as the main investor.

Proptech Capmo has raised 30 million US dollars in its Series B financing round. The round was led by investment company Bessemer Venture Partners, which primarily invests in cloud and SaaS-based solutions and was involved in financing rounds for Linkedin and Shopify, for example. The Capmo round also includes existing investors Capnamic Ventures and UVC Partners.

"With this investment, we can continue our strong growth trajectory and serve the construction and real estate industry as a digital partner," says co-founder Florian Biller, who is delighted with the investment. Capmo intends to use the money to expand its platform, open up new markets and expand its team to 200 employees by the end of 2022. The Munich-based start-up currently has 60 employees. Founded in 2018, the company claims to have implemented over 10,000 construction projects with Capmo's software. The proptech focuses on holistic and digital construction management that involves all parties.

This also convinced investor Bessemer Venture Partners: "The Capmo team is at the forefront of construction software in Germany. We are excited to partner with Capmo on their long-term journey to modernize the construction industry in Europe," says Bessemer Partner Brian Feinstein. The pleasure is mutual, as Capmo CEO Biller explains: "We are proud to have gained a strong partner in Brian Feinstein and Bessemer Venture Partners, who combine expertise in SaaS and construction technology like no other."