Katerra set out to remake the construction industry with a vertically integrated approach combining design, manufacturing and on-site construction. The company has raised multiple rounds from SoftBank since its 2015 launch, including an $865M financing in 2018. Katerra has struggled with project delays, cost overruns and discovered irregularities in accounting practices, and the COVID-19 pandemic slowed other projects. Management says the company is on track for revenue between $1.5 billion and $2 billion this year. The company reportedly burned through roughly $2 billion of capital prior to the latest financing. Shareholders approved a new rescue investment that aims to keep the company out of bankruptcy. Katerra operates a vertically integrated building-services platform that combines architecture, engineering, material supply, manufacturing and construction driven by a proprietary software platform that links BIM and computational design to its supply chain. The company integrates factories and jobsites to deliver just-in-time, pre-manufactured components that increase precision, productivity, and quality control. Katerra emphasizes a design approach that balances product standardization with customization to capture manufacturing efficiencies without sacrificing design freedom. It has opened a manufacturing facility in Phoenix and plans multiple additional domestic factories, including breaking ground on a mass timber factory in Spokane. The company says the new funding will support continued manufacturing expansion and increased R&D investment. Operating metrics cited in the article include more than $1.3 billion in bookings and a global team of over 1,300 people; Katerra was founded in 2015 and is based in Menlo Park, California. Katerra provides a technology platform that connects Building Information Modeling (BIM) tools and computational design to an ERP global supply chain to facilitate material ordering, manufacturing, tracking, and delivery. The solution is designed to help industry players optimize building development, design, and construction. While currently focused on multi-family housing in the U.S., the company plans to bring its global supply chain, project management, and design services to every sector of the construction industry. Founded in 2015 by Michael Marks and based in Menlo Park, CA, Katerra has a global team of more than 550 people. In April 2017 it raised $130M in Series C funding and intends to use the proceeds for R&D, factories, and other general corporate purposes. Investors backing the round were not disclosed.

Total raised

$1.2B

Funding rounds

3

Latest round

Equity

Latest activity

Dec 2020