GR Capital participates in the largest B2B Series B round in Austria
PlanRadar, a cloud-based SaaS data sharing and document management solution for construction and real estate projects, has raised a $69 million funding round, GR Capital told AIN.UA.
The round was led by Insight Partners and Quadrille Capital. This is the third-largest Series B in the history of Austrian businesses and the largest for B2B companies. Cavalry Ventures, the company’s existing investors, participated in this round. GR Capital was among the new investors.
“By investing in PlanRadar, we are aiming for profit, which is logical since we make venture capital investments. But it is equally important to support the growing business that is bringing innovation to the construction and real estate sectors,” commented Max Filippov, Managing Partner at GR Capital.
PlanRadar will direct the funds toward strengthening its international expansion and technological development. The company will open new offices in the US, Australia, Gulf Cooperation Council countries, Southeast Asia, and Latin America. In total, PlanRadar will create over 200 new jobs, almost doubling its global workforce in the next 12 months.
The company will also increase research and development funding by creating a new technical center and a dedicated team for innovative product development.
Sander Van de Rijdt, co-founder and co-CEO of PlanRadar, said, “Working on the development of PlanRadar, we are transforming the industry that has historically been reluctant to go digital. We have shown that if you provide customers with an easy-to-use, intuitive platform and combine it with gold-standard support services, they’re more than willing to use advanced solutions. It really is that simple.”
- Since its founding in Vienna, Austria, in 2013, PlanRadar has achieved the status of the world’s leading PropTech company.
- In the 18 months since its $34 million Series A round, PlanRadar has increased its revenue by more than 250%.
- The service has 14,500 customers and is used daily by 100,000 industry professionals across more than 60 countries.
- PlanRadar has offices in Vienna, London, Amsterdam, Paris, Madrid, Milan, and other cities.
About GR Capital
- GR Capital was launched in 2016 and is headquartered in Kyiv.
- According to Forbes, the fund’s ticket size is one of the largest in the market and is over $5 million.
- GR Capital focuses on growing foreign businesses with annual revenue of more than $10 million.
- GR Capital’s portfolio includes international delivery services, Glovo and Deliveroo, the electric scooter rental service Lime, and others.