Seattle-based startup TraceAir recently secured a $25 million Series B funding round aimed at enhancing its project management software utilized by home builders and land developers. Founded in 2015, TraceAir’s main focus is on improving efficiency and automation by employing drones to survey project data, which can then be analyzed through their software platform. The funding round was led by PeakSpan Capital, with additional participation from Flashpoint Venture Capital and other existing investors. The company was co-founded by Maria Khokhlova, Dmitry Korolev, Alexander Solovyev, and Nikita Ushakov, with Korolev, the CEO, having previously been involved in a facilities monitoring company.
The use of drones in surveying project data provides TraceAir with a unique advantage in the realm of project management software. By utilizing this technology, the company is able to gather accurate and up-to-date information about the progress of construction projects, ultimately leading to increased efficiency and automation within the industry. This innovative approach has garnered the attention of investors such as PeakSpan Capital and Flashpoint Venture Capital, who see the potential for growth and development within this sector. The expertise and experience of the co-founders also play a key role in the success of TraceAir, with Korolev’s background in facilities monitoring adding to the company’s overall capabilities.
The $25 million Series B funding round will enable TraceAir to further enhance its project management software and expand its reach within the home building and land development sectors. With a focus on improving efficiency and automation, the company aims to revolutionize the way projects are managed and monitored in these industries. By leveraging the power of drones and their software platform, TraceAir is able to provide clients with accurate, real-time data that can be used to make informed decisions and streamline the construction process. This funding round will allow the company to continue developing these innovative solutions and solidify its position as a leader in the field.
PeakSpan Capital’s leadership in the Series B funding round highlights the confidence that investors have in TraceAir’s potential for growth and success. With additional support from Flashpoint Venture Capital and other existing investors, the company is well-positioned to take advantage of emerging opportunities in the market. The funding will also enable TraceAir to invest in research and development, further enhancing its technology and capabilities. By leveraging these resources, the company can continue to drive innovation in project management software and stay ahead of the competition.
The co-founders of TraceAir bring a wealth of knowledge and experience to the table, with backgrounds in various areas of technology and business. Maria Khokhlova, Dmitry Korolev, Alexander Solovyev, and Nikita Ushakov have played integral roles in the company’s success, each contributing their unique skills and expertise. With a shared vision for revolutionizing project management in the construction industry, the co-founders are well-equipped to lead TraceAir to new heights. By working together and leveraging their collective strengths, they have been able to secure significant funding rounds and position the company for future growth and expansion.
Overall, TraceAir’s recent Series B funding round represents a significant milestone for the company and underscores the potential for growth in the project management software industry. With a focus on efficiency, automation, and innovation, TraceAir is well-positioned to disrupt traditional approaches to construction project management. The support of investors such as PeakSpan Capital and Flashpoint Venture Capital further validates the company’s vision and potential. By continuing to develop and enhance their technology, TraceAir is poised to become a leader in the field, offering cutting-edge solutions that drive progress and efficiency in the construction industry.
