Attentive AI secures $30.5M in Series B funding led by Insight Partners

Attentive.ai, a Delaware-based SaaS startup focused on AI-powered solutions for the construction and field-services industries, has successfully raised $30.5 million in its Series B funding round. The round was led by Insight Partners, with additional participation from Vertex Ventures, Tenacity Ventures, and Info Edge Ventures.

Expanding AI Innovations and Market Reach

The company plans to use the newly secured capital to accelerate the development of its next-generation AI products and expand its presence in international markets. The funding will also be directed toward enhancing its proprietary construction-focused platform, Beam AI, which automates the traditionally manual takeoff and bidding processes.

"With this funding, we’re accelerating our AI model development and product innovation across the entire preconstruction lifecycle", said Attentive.ai’s cofounder and CEO, Shiva Dhawan.

Transforming the Preconstruction Process

Founded in 2017 by Shiva Dhawan and Sarthak Vijay, Attentive.ai specializes in automating key preconstruction tasks, particularly through its flagship product, Beam AI. The platform enables contractors, landscapers, and outdoor-service firms to streamline manual measurements, effectively doubling their bid capacity and boosting growth.

For context, the takeoff phase in construction involves analyzing project costs and estimating the required materials and labor. By automating this crucial phase, Attentive.ai has helped over 1,200 contractors and suppliers improve cost estimations, increase productivity, and reduce manual effort. To date, Beam AI has powered more than 1,000 construction firms, serving 3,500 active users and processing over 4.4 million acres of project sites with more than 365,000 automated takeoffs.

Addressing a Growing Market Demand

The majority of Attentive.ai’s clientele consists of small businesses across the United States, including companies like PCC, US Lawns, Juniper, Clean Scapes, and Sunrise Landscapes. This latest funding round brings the startup’s total funding to $48 million, following its $12 million Series A round raised nine months ago, which was led by Tenacity Ventures with participation from Vertex Ventures, Peak XV Partners, and Info Edge Ventures.

Attentive.ai is competing in the global construction automation space alongside established players such as Procore, PlanGrid, and Bluebeam. The demand for such solutions is on the rise, with Deloitte research projecting the global construction market to reach $16.11 trillion by 2030.

By leveraging its AI-native solutions and fresh funding, Attentive.ai aims to solidify its position as a transformative player in the construction technology sector, driving efficiency and innovation for its growing base of clients.

Read the source