AI SaaS platform for monitoring Real Estate, Reconstruct secured $17.3 Million

Reconstruct, a California based provider of AI-powered remote quality control and progress monitoring software platform for construction and real estate, has now secured $17.3 million in a Series B funding round.

Reconstruct is founded by the Zak MacRunnels. It provides a Visual Command Center, which brings together reality capital, schedule, and design to provide construction and real assets remote quality control and progress tracking.

The company provides its software to clients ranging in complexity from 7-Eleven and McDonalds to some renewable energy and pharmaceuticals companies.

Reconstruct’s CEO, Zak MacRunnels, said, "It’s exciting to see these major AEC-affiliated companies value the transformational uniqueness of our SaaS platform. Their investment enables us to deliver our multi-patented automated detection offering that adds significant efficiencies to the workflow delivered by general contractors to owners. In addition, this will facilitate the rapid acquisition of new customers in the enormous market segments of commercial development, tenant improvements, and industrial engineering."

Jon Elliott, CEO of Bluebeam and Nemetschek Group Executive Board Member, said, "Reconstruct is unique in that they have developed a real-time platform used for small projects that use only floorplans that can also expand to meet the needs of the globe’s most sophisticated multi-billion-dollar industrial and infrastructure projects with their reality-enabled 3D and 4D Visual Command Center™. Our due diligence revealed that Reconstruct’s application of AI and computer vision is best-in-class. They are tackling some of the industry’s biggest challenges, and we are excited to fuel the company’s growth through this investment and by connecting them with our open partner ecosystems of Bluebeam and other Nemetschek brands."

The Nemetschek Group led the Series B funding round. Other participating investors include Thornton Tomasetti, Asia Pacific Land, STO Building Group, Romulus Capital, SHoP Architects, Syska Hennessy, and Cultivation Capital.

The company, as of now, has plans to use the new funds to integrate with software like Bluebeam and accelerate global expansion. The AI company also intends to use funds to acquire new customers in different market segments such as commercial development, industrial engineering, and tenant improvements, notes the announcement.