Snaptrude Secures $14 Million in Series A Funding to Revolutionize Building Design and Construction Process
- ByStartupStory | November 10, 2023
Snaptrude, a New York-based building design startup, has successfully raised $14 million in a Series A funding round, with leading contributions from Foundamental VC and Accel Partners. The company plans to utilize this funding to reinforce its go-to-market strategy and expand its reach to architecture firms in search of innovative solutions. This funding round comes only a year after Snaptrude secured a $6.6 million seed round.
Snaptrude, with a mission to simplify the complex construction design process, offers a seamless, interoperable, cloud-based tool for architects and designers. The platform distinguishes itself by providing a fully browser-based approach, facilitating real-time collaboration, and automatically generating critical project information, including cost estimates, quantity takeoffs, project schedules, and climate studies.
Altaf Ganihar, Founder and CEO of Snaptrude, expressed his vision, stating, “When I set out to build Snaptrude, I wanted to improve the broken and complex construction design journey by creating a seamless, interoperable, cloud-based tool that could support architects and designers to focus more on what they do best instead of grappling with legacy tools. With over 20,000 users across the world, we’re making great strides to democratize good design, and this new funding will support us in continuing to build the software and tools to continue to transform the AEC industry for the better.”
Snaptrude’s goal is to develop a modern operating system for the design-construction process, commencing with a robust browser-based collaborative 3D design tool. The platform is often likened to Figma for building design, embracing innovative conceptual design methodologies and gaining significant momentum in the market.
Prashanth Prakash, Partner at Accel, expressed Accel’s support for Snaptrude’s transformative vision in the AEC (Architecture, Engineering, and Construction) sector. He stated, “Snaptrude’s innovative conceptual design methodology, paired with its impressive market momentum, firmly establishes it as a pioneer in catalyzing transformation within the AEC sector. We wholeheartedly embrace their vision and are excited to remain steadfast in our support for their journey of expansion and innovation.”
Shubhankar Bhattacharya, General Partner at Foundamental, praised Snaptrude’s role in creating the next-generation design stack for the AEC industry. He added, “Snaptrude has emerged as the global front-runner in creating the next-generation design stack for the AEC industry. We’re delighted to be doubling down on our partnership with Altaf and Snaptrude and look forward to seeing how the platform grows to tackle this urgent challenge.”
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