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Construction-focused startup PlanGrid, fresh from the Y Combinator incubator, has raised $1.1 million in seed funding.
Plangrid brings blueprints to iPads, eliminating the need for large paper blueprints. The company graduated from Y Combinator in April of this year and debuted at YC’s Demo Day.
Noted investors from Google, Box, and Loopt participated in the seed round. The full press release is below.
Sunnyvale, CA – May 29, 2012 – PlanGrid, a construction-focused startup and alumnus of Y Combinator, announced today that it has raised $1.1 million in seed funding. The company plans to expand its team, build new features and accelerate its overall growth in delivering advanced solutions to an industry in dire need of innovation.
A number of well-known angel investors contributed to the seed round including: Suleman Ali, founder and CEO of TinyCo, Sam Altman, founder of Loopt, Paul Buchheit, creator of Gmail, Matt Cutts, head of Google’s Webspam team, and Ray Levitt, Director of Stanford University’s Construction Engineering department. Organizations including 500 Startups, Box’s Box Innovation Network (/bin), Navitas Capital and Y Combinator also participated in the round.
PlanGrid provides a cloud-based service to store, view and manage blueprints on the iPad. Hundreds of the worlds most innovative construction companies use PlanGrid’s technology to effectively and affordably manage their building plans. Since launching in early March, PlanGrid’s userbase has grown 25X and is now being used on more than 2900 construction projects across the World.
“PlanGrid is revolutionizing the way the construction industry plans, designs and builds, said Ryan Sutton-Gee, co-founder and CEO of PlanGrid. “We’ll use this round of funding to rapidly scale our service and build our team to capture the massive market opportunity in this space.”
PlanGrid is a venture-backed startup that aims to revolutionize the construction industry by allowing field workers to store, view, and communicate with construction blueprints on the iPad. Headquartered in Sunnyvale, CA PlanGrid was founded in December 2011 by two construction engineers and two software engineers and publicly launched its mobile app on March 2nd 2012.
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