Versatile builds CraneView, a crane-mounted AI and IoT system that captures production and process data on jobsites and analyzes thousands of data points to surface insights on materials, redundancies, progress and crane utilization. Since its 2019 launch, CraneView has been adopted by over 40% of the leading general contractors in North America. The company positions its technology to turn fragmented construction workflows into controllable, manufacturing-like processes, increasing productivity, predictability and safety. The recent funding will be used to accelerate growth, strengthen data-driven capabilities, and expand services to insurers and across the construction value chain. Versatile emphasizes fitting naturally into existing customer workflows to drive adoption and impact. The company is headquartered in Los Altos, CA. Versatile has developed a piece of hardware designed to be mounted to a crane that captures and analyzes data across construction sites. From that vantage point the system provides a picture of construction progress, tracks site materials, and targets potential redundancies. The product pairs hardware with AI-driven analysis to help turn job sites into controlled manufacturing with fast feedback loops, according to co-founder and CEO Meirav Oren. Versatile is an URBAN-X accelerator alum. Financially, the company announced a $20 million Series A and previously raised $8.5 million, including a $5.5 million seed in August of last year. The company says it will use the new funding to accelerate availability of its technology and to develop additional AI components for users.

Total raised

$100M

Funding rounds

2

Latest round

Series B

Latest activity

Sep 2021