Construction management startup Capmo receives $30 million in funding

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

Proptech Capmo has raised $30 million in its Series B funding round. The round is led by private equity firm Bessemer Venture Partners, which invests primarily in cloud and SaaS-based solutions and has participated in funding 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 as a digital partner to the construction and real estate industry," says co-founder Florian Biller, pleased with the investment. Capmo plans to use the money to expand its platform, also tap into new markets and expand its team to 200 employees by the end of 2022. Currently, 60 employees work for the Munich-based start-up. Founded in 2018, the company says it has implemented over 10,000 construction projects using Capmo's software. In doing so, the proptech relies on holistic and digital construction management in which all parties are involved.

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 joy is mutual, as Capmo CEO Biller tells us: "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."