Offsite prefabrication company Prescient raised $40 million from investors in a Series D funding round and $80 million since launching in 2012, according to The Denver Post.
The Arvada, CO–based firm, which makes modular structural systems for multifamily buildings of up to 16 stories, has built 3 million square feet of space in five states since 2013. It expects to construct an additional 3 million square feet in 2017.
The 300-person company is gearing up to add 75 more payroll positions this year. It doubled its Colorado footprint to 120,000 square feet last year and has plans to build a North Carolina facility.
Construction technology has perked the ears — and opened the wallets — of investors nationwide as a growing group of startups offers scalable digital solutions for everything from reducing the volume of paper used on the job site to managing project workflows on the go.
Last month, Menlo Park, CA–based construction tech startup Katerra announced that it had raised $130 million in a Series C funding round and reached a $1 billion valuation. The company was founded in 2015 and aims to streamline the design-bid-build process, with its current focus on multifamily projects.
Mobile project management systems have also attracted strong interest. In December 2016, software startup Procore Technologies completed a $50 million funding round to earn a $1 billion valuation, double what it was a year ago. And in 2015, mobile- and web-based construction project management software company Fieldwire said it raised $6.6 million in a series A funding round.
Seattle-based Pavia Systems raised $4 million earlier this year to help develop a digital platform for data collection and project documentation. The company was formed out of the University of Washington in 2005 as a training tool for transportation contractors but has since evolved to be more project-focused.