Veev Group, Inc. announced a preferred-stock financing on March 22, 2021 that generated aggregate gross proceeds of $106,277,481.3326. The company issued 169,913,325 Series C preferred shares at $0.619 per share (gross proceeds $105,176,348.175) and 2,223,613 Series C-1 preferred shares at $0.4952 per share (gross proceeds $1,101,133.1576). The Series C and Series C-1 shares carry non‑cumulative fixed dividends of $0.03095 and $0.02476 per share per annum, respectively. Both series are convertible into common shares at fixed conversion prices of $0.619 and $0.4952 per share, respectively. The round was raised at a post‑money valuation of $153,728,394 and included participation from More Investment House Ltd., Migdal Insurance and Financial Holdings Ltd., Psagot Investment House Ltd., Shavit Capital and other investors. The company has raised nearly $200,000,000 in funding to date. Veev Group develops integrated real estate solutions centered on its Veev panelized building system, which uses light gauge steel framing, high-performance acrylic surfaces and millwork, radiant climate control, and a digital home ecosystem. The company is focused on high-performance multifamily and accessory dwelling unit (ADU) products for the San Francisco Bay Area. Its current development pipeline totals more than 230 units and 620,000 gross building square feet. Veev employs more than 260 team members and operates a headquarters and fabrication facility in the San Francisco Bay Area, with an additional office in Tel Aviv. The company was originally established in 2008 and consolidated its subsidiaries in 2019 to accelerate innovation in residential housing.

Total raised

$307M

Funding rounds

4

Latest round

Series C

Latest activity

Mar 2021