Construction tech startup Cosuno raised $30 million in Series B led by U.S. growth equity firm Avenir Growth where Spark Capital and Cherry Ventures also participated. Cosuno now claims a valuation of $150 million.
Cosuno fosters collaboration among all construction stakeholders by mapping the processes from planning to payment. Subcontractors are involved in the planning process from the start and can pay using the software platform. According to the startup, planning stages can be reduced by up to 60% and profit margins can be increased by 18% on average. According to the company, the platform has already processed more than $4 billion in construction volume. Cosuno intends to improve the product and expand in Europe with their 140 people team.