The investment round was led by Insight Partners, with e.ventures and existing investors Cavalry Ventures, Berliner Volksbank Ventures and aws Gründerfonds also participating.
The capital will be used for strategic expansion into nine new territories worldwide and deepening the company’s foothold into its already established markets.
The investment could fuel further global savings and promises to help scale the model worldwide.
- DFT roundtable: What areas of property development finance finance are most underserved?
- PlanRadar reveals plans to boost digitisation in UK construction industry
- How the rise of contech will benefit investors and project teams
Sander van de Rijdt, co-founder and co-CEO at PlanRadar, said: “The sector has always suffered a reluctance to modernise on-the-ground communication, so an investment like this from such renowned investors is an indication of real belief in what we’ve created with PlanRadar.”
Thomas Krane, principal at Insight Partners, added: “Our investment underscores the confidence we have in PlanRadar’s category-leading technology, and we look forward to supporting them as they scale up and continue their global expansion.”