FinTechFunding

TraceAir: Raises $3.5M in Series A Funding

  • TraceAir, a Redwood City, Calif.-based construction site development acceleration platform, completed a $3.5M Series A funding round
  • The round, which brings the total capital raised to $7M, led by XTX Ventures, joined by Liquid 2 Ventures, GEM Capital, GPS Ventures, and Andrew Filev (CEO Wrike)
  • The company also intends to use the new capital to grow marketing & sales and to accelerate the development of new product features
  • TraceAir also provides a collaborative platform that allows users to identify and solve problems, reducing delays, and accelerating decision making
  • Tools like Haul Road automatically find the most efficient route to move dirt and materials, saving in equipment and fuel expenses
  • The company is currently working with seven of the top twenty-five homebuilders in the US
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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