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We are ecstatic to announce that TraceAir has successfully secured $25 million in Series B funding, a landmark achievement that marks the beginning of an exciting new chapter in our journey! This funding round was led by PeakSpan Capital, with enthusiastic participation from Flashpoint Venture Capital and our existing investors.
This significant investment will fuel the development and market roll-out of new products designed to enhance land development and homebuilding workflows with predictive analytics. Our expanded offerings will cover every stage of the project lifecycle—from land acquisition and planning through construction—delivering unmatched value to top builders and establishing TraceAir as the indispensable partner for any developer aiming to excel in the competitive land development market.
Maria Khokhlova, Co-Founder of TraceAir, expressed her excitement: "We are thrilled to embark on this next chapter of TraceAir's journey with the support of PeakSpan Capital and Flashpoint Venture Capital. This funding will enable us to accelerate our mission of transforming the land development and homebuilding industries through radical transparency and a visual, data-driven approach, as well as by empowering essential workflows with innovation and technology."
Since TraceAir's founding in 2015, Co-Founders Maria Khokhlova, Dmitry Korolev, Alexander Solovyev, and Nikita Ushakov have grown TraceAir to serve the top thirty homebuilders across 40+ states and Canada. Trusted by industry leaders such as DR Horton, Howard Hughes, Lennar, and more, TraceAir is dedicated to meeting the complex business needs of builders and land developers worldwide.
Dmitry Korolev, Co-Founder of TraceAir, added: "Our vision is to empower construction professionals with intelligent and easy-to-use tools that drive efficiency and sustainability. With this investment, we are poised to deliver even greater value to our customers and partners."
The construction technology market is forecasted to exceed $24 billion by 2033, a significant increase from $5 billion in 2023. Private equity investments in PropTech and adjacent sectors are expected to fuel this growth, addressing industry challenges such as workforce and supply chain shortages, inflation, and dynamic regulation.
Phil Dur, Co-Founder and General Partner at PeakSpan Capital, highlighted: "TraceAir has demonstrated exceptional growth and innovation in an industry ripe for disruption. We are excited to partner with Maria, Dmitry, and the entire TraceAir team as they continue to pioneer advancements in construction technology."
Tony Fedorov, Partner and Head of US Operations at Flashpoint Venture Capital, added: "TraceAir's commitment to leveraging AI and machine learning to address critical challenges in land development and homebuilding aligns perfectly with our investment thesis. We look forward to supporting TraceAir as they scale their transformative solutions."
This investment is a powerful endorsement of our innovative approach and the transformative impact we are making in the industry. We look forward to continuing to push the boundaries of innovation and set new standards in the land development and homebuilding industries. Thank you for being part of our journey. Stay tuned for more updates as we embark on this new chapter of growth and transformation!