Boston – Building Ventures, an early-stage venture capital firm, announced the closing of its $95 million Fund II. The new capital will be used to invest in 18-20 seed to series A construction and real estate tech startups focused on improving every stage of the full building lifecycle.
General Partners Jesse Devitte and Travis Connors co-founded Building Ventures in 2017. “Real estate and construction are notoriously slow moving, change resistant industries,” said Devitte. “However, society has progressed to hold higher expectations for our built environments, from the quality and origin of materials used, to the overall environmental impact, from construction process to daily operation. We’re investing in the founders and technologies at every stage of the building cycle that are ultimately making spaces we use healthier, more practical and less wasteful.”
Over the last five years Building Ventures has funded 20 startups, including Dandelion, a geothermal company; Measurabl, an ESG platform for commercial real estate; Canoa, a design platform enabling sustainable office design; and Join.build, a decision-making platform for preconstruction.
Building Ventures began investing from Fund II in early 2022 and has deployed capital investments in:
- Animated Insights: a provider of digital twin technology solutions across industry and infrastructure.
- Extracker: provides financial transparency to the construction industry by making change orders collaborative.
- Skillit: a recruiting platform that provides construction companies access to a growing network of qualified workers.
“We invest in founders who are in love with the problem they’re trying to solve, and we continue to do so in Fund II,” said Connors. “While it’s easy to be enamored with cutting edge technology or a really clever sales motion, we have to believe deeply in the capability of the founders we partner with to build a large scale business that can have the industry impact our world needs.”
