Disperse Raises $16 Million in Funding Led by 2150
NEW YORK & LONDON --(BUSINESS WIRE)--
Disperse, a leading provider of building productivity systems in the construction industry, has raised $16 million of additional funding, with 2150 as lead investor and participation from existing investors including Northzone and Kindred Capital. Disperse's technology allows project stakeholders to make informed decisions with actionable insights and an accurate status of their building project, by generating reliable as-built records and analyzing data to reduce risk and drive productivity. Using Disperse systems, project teams are freed from repetitive administrative tasks and protected against unchecked construction errors and costly rework.
Disperse was founded in 2015 out of a London School of Economics entrepreneurship incubator. By 2019 the company had expanded into the US market, and since then has formed strategic relationships with customers like Gilbane and Urban Atelier Group (UAG). Notably, with the exception of 2020 at the height of the COVID-19 pandemic in New York City, Disperse has reliably grown US revenue by 2x every year since entering the market. The firm has also continued growing with market-leading builders and developers in the UK and Ireland including Hines, Mace, Sir Robert McAlpine, John Sisk & Son, and Multiplex.
“2150 is the ideal partner, and we are proud to have their backing,” said Felix Neufeld, CEO and founder of Disperse. “In the past few years we’ve seen a lot of VCs investing in construction tech without really understanding construction, whereas 2150 has deep real estate development and construction experience. They are focused on investing in solutions that actually move the industry, and creating long term impact, rather than investing in short-sighted narratives. Their approach is very much in line with our mission to unlock the future of building.”
“Our mission is to invest in technology companies that will make urbanization sustainable,” said Jacob Bro, Partner at 2150. “As part of accomplishing that we invest in entrepreneurs with real potential to drive step-changes in the real estate and construction industries. Disperse is addressing the construction industry’s biggest productivity challenges at their roots by using data, computation, and software engineering to unlock massive efficiency gains while also laying the foundation for decarbonization and resilience of the sector.”
The additional investment will be used for the dual purposes of continuing to drive product advancements and expanding the go-to-market function in the Americas. Disperse’s product organization is helmed by recently-appointed Chief Product Officer, Harsh Vardhan Singh, who joined the company from a senior product leadership role at Amazon. Under Harsh, the product and tech organization is focused on delivering value to site teams facing the realities of a recessionary environment, volatility in labor and materials markets, and the near-constant operational issues that are endemic to construction projects.
“Technology has always played a key role in evolving processes within the AEC industry. Construction project management innovation has radically transformed over the past 5-7 years, and to facilitate safer and more productive projects, we are constantly exploring new technologies. Disperse has allowed us to innovate and provide our team with solutions that streamline our daily workflows. Through Disperse, our workflow is automated, and we now have a centralized way to monitor and track field progress and daily activities more efficiently. Clearer tracking of productivity and key rate of change metrics allows us to understand our workforce needs, enabling us to deliver projects that realize our client’s visions.” - Urban Atelier Group.
Disperse is a building productivity provider on a mission to unlock the future of building.
Disperse captures the state of construction projects and provides actionable insights in a way that is scalable, accurate, and reliable so that project teams can focus on getting things done. Disperse products combine artificial intelligence and human expertise to empower project teams with insights from data that allows them to make better decisions with an objective project status, minimize risk with reliable as-built records, and improve stakeholder communication.
Founded in 2015, Disperse has worked on over 100 projects across the UK and the US and captured millions of images across residential, commercial, mixed use, and healthcare sectors. Learn more at disperse.io