reebuild Raises 3 Million Euros for AI Automation in the Construction Industry

The Vienna-based PropTech company reebuild has closed a seed funding round of 3 million euros. The round was led by Fortino Ventures, with Rise PropTech and CuriosityVC also participating. The company is developing an AI platform that automates invoice verification, cost control, and materials management for construction companies. reebuild plans to use the capital primarily to expand its business in Germany and enter additional European markets.

The construction industry is one of the sectors where numerous business processes still rely on manual document processing. Invoices, delivery notes, order confirmations, and project costs are often managed across different systems, spreadsheets, and paper documents. The Vienna-based company aims to consolidate these processes using software developed specifically for the construction and real estate industries and to automate them to a large extent.

More than 530 million euros in invoice volume processed

According to the company, reebuild now serves more than 120 companies in Germany and Austria. To date, more than 345,000 documents with an invoice volume exceeding 530 million euros have been processed via the platform. According to the company, the software is used at more than 8,200 construction sites and projects. Clients include the Kratzert Group, Rödl & Herdegen, Pittel+Brausewetter, and the 3SI Immogroup, among others.

The processed invoice volume describes the scope of documents handled via the platform and should not be equated with reebuild’s revenue.

AI Checks Invoices and Delivery Notes

The platform focuses on the automated processing of business documents. The software can read electronic invoices as well as PDF files, scanned documents, and photos. The information contained therein is captured at the line item level, structured, and reconciled with other documents.

“We have firsthand knowledge of the industry’s challenges and are developing reebuild in close collaboration with our customers, keeping a strong focus on real-world applications.”

Alexander Kornell, CEO and founder of reebuild

For example, invoice line items can be compared with delivery notes and order confirmations. If discrepancies are found, the system can calculate corrections and prepare the document for further processing. Information can also be captured directly on construction sites. If an employee takes a photo of a delivery note using the app, the document is imported into the platform and can then be assigned to the relevant transaction.

The actual approval remains part of a defined workflow. While AI agents handle recurring verification and reconciliation tasks, the responsible employees continue to make the final decisions.

E-Invoicing Increases the Pressure to Digitize

Document automation is gaining additional significance due to the gradual introduction of electronic invoicing in Germany. Starting in early 2025, companies must, in principle, be able to receive electronic invoices. Transitional regulations apply to the mandatory issuance of electronic invoices, and these will be phased out gradually.

Nevertheless, the document landscape remains diverse, particularly in the construction industry. In addition to structured e-invoices, PDF documents, photographed delivery notes, and scanned documents continue to be processed. reebuild therefore relies on uniform data processing regardless of the original file format.

According to the company, the platform supports, among other things, the EN 16931 and ZUGFeRD invoice standards as well as GoBD-compliant workflows. The software is developed in Vienna and hosted in Germany.

Invoice processing is set to become seven times faster

reebuild highlights significant time savings for its customers. According to the company, the time required to process an invoice is reduced from more than 20 minutes to about three minutes. The time between invoice receipt and approval is also expected to drop from an average of five days to one and a half days. Furthermore, according to the startup, customers report savings of up to 20 percent in procurement costs.

These figures are based on company data and customer feedback. The press release does not provide details on the number of companies surveyed or the methodology used for the measurements. In construction projects, however, faster review processes and more up-to-date cost data can have significant economic implications. Delayed approvals, undetected price variances, or missed discount deadlines have a direct impact on project costs.

Founder Team Combines Construction Experience with AI Development

Behind reebuild is a four-person founding team. CEO Alexander Kornell and CRO Matteo Cimadom bring practical experience from the construction industry through their family businesses. Together with CTO Luca Papay and COO Nicolaus Lederer, the team combines industry knowledge with experience in software development and artificial intelligence.

The company currently employs 25 people at its Vienna location. According to Kornell, the software is developed in close collaboration with customers. The goal is to map the actual business processes on construction sites and within construction companies, rather than simply digitizing existing administrative processes.

Expansion into Germany and Other European Markets

The 3 million euro funding round is intended to advance reebuild in three areas. One focus is on expanding the business in Germany. The company already has clients there and aims to further increase its market presence. In addition, the company plans to enter other European markets where, according to the company, initial development partnerships are already in place.

Second, the platform is to be expanded functionally. Additional AI modules are planned to cover business processes ranging from cost estimation to accounting. In the long term, reebuild is pursuing the development of a so-called “Agentic Backoffice,” in which AI agents prepare and process recurring administrative tasks largely on their own. Third, the company plans to expand its team, which currently consists of about 25 people.

Fortino Ventures Leads Seed Round

With Fortino Ventures, reebuild has secured a European investor that also operates out of Munich. Rise PropTech is expected to provide support, particularly in gaining access to decision-makers in the real estate and construction industries outside the DACH region. CuriosityVC is also participating in the funding round.

For reebuild, the focus is now on scaling its existing business model to a larger customer base. With more than 120 customers and a processed invoice volume exceeding 530 million euros, the startup says it already has a foundation for further expansion.

Time will tell whether the promised efficiency gains can be replicated across different company sizes and project structures. With the new funding, reebuild plans to expand both its technology and its sales activities to achieve this.