Ecobot, a US-based construction software company driving the digitisation of environmental permitting, has raised an additional $2.81m (c.£2m) in funding.
Ecobot is a cloud-based platform that optimises mandatory pre-construction environmental permitting and enables customers to leverage field data to streamline mitigation banking and civil engineering.
The round was led by Cultivation Capital, in partnership with Cofounders Capital and Runway Venture Partners, with participation from Charlotte Angel Fund, SaaS Venture Capital, Shadow Ventures, and Stout Street Capital.
Lee Lance, CEO of Ecobot, said: “We’re excited to bring these new partners together. This latest funding round and the collective expertise of our investors support our vision to expand Ecobot, allowing us to bring our transformative platform to more stakeholders throughout the architecture, engineering, and construction industry.”
Cliff Holekamp, cofounder and general partner of Cultivation Capital, commented: “Ecobot is an ideal opportunity for Cultivation Capital. We are excited to lead this round and to be part of a stellar group of value-add investors, many of which we have partnered with before.”
This new investment round will allow Ecobot to widen its scope of environmental permits and build additional project management tools into the platform, the company said.
As part of this expansion, Ecobot also look to provide more integrated ways for engineers to leverage field data into a digital twin to improve the resilience of the built environment.
Tim McLoughlin, Ecobot board member and partner at Cofounders Capital, said: “This capital will allow Ecobot to continue to execute on its plan while adding new talent to this already amazing team.”
Anna Garcia, partner at Runway Venture Partners, added: “The Ecobot team’s expertise and execution to date were amplified by the customers we spoke with during diligence.
“The stated urgent need for the Ecobot platform and its impact on clients’ bottom-line results in a clear endorsement of Ecobot as the unequivocal leader in this space. We’re delighted to include them in our startup portfolio.”
To date, Ecobot customers have generated over 45,000 pre-construction environmental analysis reports.
In November 2021, former vice-chairman of AECOM and former board member at WSP Global, Grant McCullagh, joined Ecobot’s board to lend his expertise in the AEC space as Ecobot broadens its platform.
Image credit: Ecobot
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