Room to grow: 12 VC firms funding construction’s future

A great idea isn’t worth much if you don’t have the resources to make it a reality.

That’s a problem venture capital firms solve. They invest in young companies with high growth potential, and often can provide guidance to help them succeed. Recent years have seen many firms rise up with a specific focus on fostering innovation in the construction sector, highlighting how much opportunity exists.

Be sure to take note of the companies on this list as there is a decent chance construction’s next big tech breakthrough comes from one of them.

Ironspring Ventures

Based in Austin, Texas, Ironspring Ventures focuses on companies across the industrial supply chain, including construction, manufacturing, transportation & logistics, and alternative energy. Founded in 2020, they’ve raised over $160 million across two funds to invest in Seed and Series A rounds. They look for companies with the potential to improve productivity and solve challenges in these industries through automation and technology. They partner with their portfolio companies by leveraging their network of industrial experts and strategic investors.

Notable investments:

• ICON
• Fast Radius (Exited)
• Harbinger
• Plus One Robotics
• OneRail
• Assignar

Brick & Mortar Ventures

Brick & Mortar Ventures is a venture capital firm headquartered in San Francisco, California, founded in 2015. They focus on investing in early-stage companies that develop innovative software and hardware solutions for the industries that make up the built world. This includes Architecture, Engineering, Construction, and Facilities Management (AEC/FM). They aim to disrupt the traditional methods used in these industries by backing entrepreneurs who are creating new technologies. Brick & Mortar Ventures has a notable track record with past investments in companies like PlanGrid, BuildingConnected, and BuildZoom. Their funding comes from institutional investors, and they have a dedicated team with experience in both venture capital and the AEC/FM industries.

Notable investments:

• PlanGrid
• BuildingConnected
• BuildZoom
• Fieldwire
• Levelset (formerly Zlien)
• Rhumbix

Builders VC

Founded in 2014, Builders VC is another San Francisco venture capital firm specializing in early-stage investments. They target tech startups aiming to modernize established industries (construction included). Builders VC focuses on Seed and Series A funding rounds, but also participates in later stages. Their sweet spot lies in Enterprise Applications and high-tech solutions, although they also invest in sectors like healthcare, sustainability, and food & agriculture technology. For their efforts in the construction world, they have brought on venture partners with deep construction industry experience. Steve Dell’Orto, formerly a senior executive at Clark Construction, joined Builders VC to leverage his expertise and guide construction investments.

Notable investments:

• Fieldwire
• Modumate
• Camino Technologies
• DOZR
• Mercator.ai
• Foresight
• Bowery

HOLT Ventures

As the investment arm of HOLT Cat, the largest Caterpillar tractor and engine dealer in the U.S., HOLT Ventures aims to be an engine that powers construction innovation. in early-stage technology companies that can benefit the industrial and manufacturing sectors, particularly those that can optimize and improve the services offered by Holt CAT. This includes areas like construction technology, manufacturing process improvement, rental/distribution solutions, business productivity software. Their team primarily focuses on Seed and Series A funding rounds. They look for companies with innovative solutions that address challenges faced by their parent company, Holt CAT, and its customers. They also have active partnerships with many others on this list, including Ironspring, Building Ventures and Blackhorn Ventures

Notable investments:

• Document Crunch
• Skillit
• PLNAR
• Streamline
• Suppli
• RodRadar
• Voze
• Camp Six
• Document Crunch

Fifth Wall

Fifth Wall is one of the world’s leading venture capital firm dedicated to propelling the real estate industry forward through technology. Based in Los Angeles, they focus on innovative companies tackling critical challenges that impact the built environment. Climate change, aging infrastructure, inaccessible housing markets, and unreliable supply chains are just a few areas they address. Fifth Wall is backed by a global mix of more than 100 strategic limited partners from more than 15 countries, including BNP Paribas Real Estate, British Land, CBRE, Cushman & Wakefield, Hilton, Host Hotels & Resorts, Kimco Realty Corporation, Lennar, Lowe’s Home Improvement, Marriott International, MetLife Investment Management, MGM Resorts, Related Companies, Starwood Capital, Toll Brothers, and others.

Notable investments:

• Aurora Solar
• ICON
• SPAN
• VTS
• SOLARCYCLE
• NZero
• SPAN
• Soly
• Pacaso

MetaProp

Founded in 2015, MetaProp’s investment team has invested in over 150 technology companies across the real estate value chain. They claim to be the world’s largest early-stage PropTech portfolio. The firm manages funds for both financial and strategic real estate investors that represent a pilot- and test-ready sandbox of 20+ billion square feet across every real estate asset type and global market. Their partners include construction gians like Bosa Properties and Altus Group. They also run the MetaProp Bridge at Columbia University program. Each year, between six and eight of the best technology-driven real estate industry ideas are selected to participate in intensive education, mentorship, and growth hacking programs, culminating in exclusive Graduation Defense panels, Roadshows, and Demo Days for partners, investors, VCs, and media. 

Notable investments:

• Skillit
• Briq
• AirWorks
• Trestle
• BuildOps
• OnsiteIQ
• TracFlo
• Urbint
• Mapped
• Kwant

Building Ventures

Building Ventures is a venture capital firm with a specific focus on the built environment. More specifically, they target companies that develop solutions that impact how we design, build, operate, and experience our physical surroundings. This could include anything from construction technology to sustainable building materials. Building Ventures doesn’t just want cookie cutter companies. They say they prioritize companies that have the potential to create a transformative impact.

Notable investments:

• Work & Mother
• SmartPM Technologies
• Dandelion Energy
• Measurabl
• Built Robotics
• Mosaic
• SKILLIT
• SmartPM
• Blokable

Formwork Labs

Formwork Labs, a collaborative accelerator program, has a simple goal: to be the foundation for entrepreneurship and innovation for the construction industry. Their team focuses on nurturing early-stage startups in the Architecture, Engineering, and Construction (AEC) industry. Launched by Brick & Mortar Ventures and BuiltWorlds in 2022 as the first accelerator of its kind, they provide funding, mentorship, and industry connections to help these young companies refine their products and go-to-market strategies. Recently, they announced the launch of their third cohort, selecting five promising startups from a pool of over 70 applicants.

Current cohort:

• Flowlly
• MatBook
• Pivla
• Silo-in
• TerraScape AI

EllisDon ConTech Accelerator

EllisDon’s ConTech Accelerator acts as a launchpad for innovative construction technology startups. The program identifies promising young companies with solutions that address challenges in the construction industry. These startups receive mentorship, potential funding, and industry connections from EllisDon to help them refine their ideas and develop go-to-market strategies. Successful participants may even collaborate with EllisDon on real-world construction projects to test and improve their solutions, accelerating their growth and impact on the industry.

2023 program finalists:

• SiteLink
• The Link
• Provision

Blackhorn Ventures

Founded in 2017 in Denver, Colorado, Blackhorn Ventures is a venture capital firm that invests in early-stage companies using software solutions to improve efficiency and decarbonize industrial sectors like energy, construction, and transportation. They target companies that leverage digital tools to minimize resource use and environmental impact while aiming for strong financial returns. Just this month they announced the close of their third fund, Blackhorn Ventures Industrial Impact Fund II, LP (IIF II) which garnered $150 million in new commitments. The fund’s focus is seed and Series A stage investments into capital-efficient software solutions, vertical SaaS companies, and AI applications that address the urgent need for industrial resource efficiency and decarbonization at scale.

Notable investments:

• Aperia Technologies
• EcoWorks
• Briq
• Agorus
• Amperon
• Circuit Mind
• Datch
• QuoteToMe
• Hyperframe

Shadow Ventures

Founded in Atlanta, Georgia in 2017, Shadow Ventures is a venture capital firm focused on seed-stage startups that bring innovation to the built environment. They target companies using technology to tackle challenges in real estate and construction, with a specific interest in sustainable solutions. Their investments aim to transform how we design, build, and operate buildings. They recently announced their new $34 million Seed Fund II. This fund aims to continue their mission of financing ambitious entrepreneurs with frontier technologies for the global infrastructure sector.

Notable investments:

• Okibo
• Constructn.ai
• BotBuilt
• jet.build
• Green Badger
• Ecobot
• billy
• Rabbet
• Aren
• ICON
• Konstru
• Hummingbird Kinetics

Energize Capital

Formerly Energize Ventures, this firm wants to make the world a healthier place. A leading climate software investor, Energize Capital partners with with innovators to accelerate the sustainability transition. Their team has decades of experience in the climate technology space, and they leverage that deep industry and operational expertise to guide a research-based, proactive and thorough investment approach. They support companies at various stages of maturity by helping them scale and realize their full potential, from early commercialization to the public markets. They have several areas of focus: renewable energy, industrial operations, electrification/mobility, infrastructure resilience and decarbonization

Notable investments:

• Amperon
• Urbint
• Sitetracker
• Aurora Solar
• Handle
• PVcase
• SINAI