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TraceAir Technologies
Empowering the Least Tech-Savvy People with Tools and Data On Construction Sites
Dmitry Korolev, Founder & CEOTo help its clients, TraceAir Technologies undertakes a three-pronged approach. First, the company leverages drone data to create a topo by scanning a construction site. Following this, they make a comparison of the drone data with design documentation. “And then, magic happens. Combining multiple levels of information with cuttingedge machine learning algorithms, our software provides clients’ project teams a holistic view of their construction site and the data-backed insights for the best decisions to be made. This ultimately becomes the key-driver of better planning,” says Maria Khokhlova, Co-founder and Chief Product Officer of the company. Apart from providing a comprehensive site understanding, TraceAir Technologies’ platform brings every member of its clients’ team on the same digital space ensuring better communication—such transparency builds trust and confidence among team members as well. Most importantly, it provides easy accessibility of information from any device and place with a single click.
By sharpening its efficiency, TraceAir Technologies has added several renowned clients to its list. For instance, The New Home Company faced problems on their Russell Ranch residential community project.
Maria Khokhlova, Co-Founder & Chief Product OfficerWith such unique instances of client success, TraceAir Technologies has carved a niche in the construction space. In this context, Maria shares the story of firstgeneration GPS devices for surveyors, which failed to hit the mark due to the improper goto- market strategy. Ultimately, these devices reached the hands of grading contractors who had complex daily usage requirements and became popular. She believes that TraceAir Technologies’ solution too strikes on the needs of efficient daily decision making. This transparent and thoughtful goto- market strategy is the key reason behind the success of the company. “The backbone of such an unconventional approach is the ability to stop guesstimating and let all the project team members make the data-based decisions fast right in the field,” Maria posits. Apart from this, the company’s core engineering team whets the company’s capability of growing in tune with market needs, and Korolev’s long-standing passion for exploring new horizons propels every member of TraceAir Technologies’ team remain ever enthusiastic and dedicated.
Striding ahead, TraceAir Technologies has plans to polish its solutions to ensure a seamless experience for its clients. Also, it will expand within the U.S. market to serve a diverse clientele and hone its problem-solving skills. “Addressing the daily requirements of our clients and helping them overcome complicated situations, we have become a trusted name in the market,” concludes Korolev.
TraceAir Secures $25 Million Series B Funding to Drive Innovation in Land Development and Homebuilding
Thursday, May 30, 2024
SEATTLE - TraceAir, announced a $25 million Series B funding round led by PeakSpan Capital, with participation from Flashpoint Venture Capital among other existing investors. TraceAir offers builders and developers a visual and collaborative construction management platform that empowers businesses with data-driven insights to lower costs, improve efficiency, and reduce the risk of errors and delays.
The investment will support the development and market roll-out of new products to boost land development and homebuilding workflows with predictive analytics and to set the industry on a new level of efficiency and automation. TraceAir's expanded offerings will encompass the entire lifecycle of land development and homebuilding projects—from land acquisition and planning up through construction—delivering unparalleled value to top builders, proving that TraceAir is the must-have partner for any developer to compete in the land-development market.
"We are thrilled to embark on this next chapter of TraceAir's journey with the support of PeakSpan Capital and Flashpoint Venture Capital," said Maria Khokhlova, co-founder of TraceAir. "This funding will enable us to accelerate our mission of transforming the land development and homebuilding industries through radical transparency and visual data-driven approach as well as through empowering essential workflows with innovation and technology."
Since founding TraceAir in 2015, co-founders Maria Khokhlova, Dmitry Korolev, Alexander Solovyev, and Nikita Ushakov have grown the company to serve the top thirty homebuilders in 40+ states and Canada. Trusted by industry leaders including DR Horton, Howard Hughes, Lennar, and more, TraceAir is committed to meeting the complex business needs of builders and land developers worldwide.
"Our vision is to empower construction professionals with intelligent and easy-to-use tools that drive efficiency and sustainability," added Dmitry Korolev, co-founder of TraceAir. "With this investment, we are poised to deliver even greater value to our customers and partners."
The construction technology market is predicted to exceed a market size of $24 billion by 2033, a considerable increase from $5 billion in 2023. Private equity investments in PropTech and adjacent sectors are poised to fuel this market growth in response to industry challenges such as workforce and supply chain shortages, inflation, and dynamic regulation.
"TraceAir has demonstrated exceptional growth and innovation in an industry ripe for disruption," said Phil Dur, co-founder and general partner at PeakSpan Capital. "We are excited to partner with Maria, Dmitry, and the entire TraceAir team as they continue to pioneer advancements in construction technology."
"TraceAir's commitment to leveraging AI and machine learning to address critical challenges in land development and homebuilding aligns perfectly with our investment thesis," added Tony Fedorov, partner and the Head of US operations at Flashpoint Venture Capital. "We look forward to supporting TraceAir as they scale their transformative solutions."
Company
TraceAir Technologies
Management
Dmitry Korolev, Founder & CEO and Maria Khokhlova, Co-Founder & Chief Product Officer
Description
A software solution that helps construction teams better communicate and collaborate in order to monitor, track quantities, plan and manage jobsite
