The BuiltWorlds 2022 Top Deals 50 is a list of the largest venture deals, VC funds raised, and acquisitions in the built world over the course of 2022. Since 2017, BuiltWorlds has tracked venture deals, VC funding, and M&A activity in the construction and broader real estate ecosystem with a global purview.
This year’s list is broken down into 5 disparate sections. BuiltWorlds Venture program is broken out into 3 categories ConTech, Building Tech, & Infrastructure Tech, with the top 10 deals from each of these classifications representing 30 of the 50 deals recognized on this list.
For a better understanding of how these 3 categories are differentiated → Click Here
The 10 largest/most consequential M&A deals of 2022 are depicted on this list. Lastly, the 10 largest built worlds-focused VC/CVC fund launches in 2022 are represented, something that BuiltWorlds' Venture team has just recently begun tracking in recent months.
The intent of this top deals list is to illustrate the breadth of activity in this slow-to-adopt industry and the continued acceleration of innovative financing to develop real-estate tech ventures for years to come.
Want To Learn More About BuiltWorlds Investment Data?
BuiltWorlds venture research tracks deals via primary data collection and publicly sourced deal flow made in the built world ecosystem. Deals include a wide variety of innovative solutions that augment design, estimating, procurement, and construction of vertical & horizontal assets, as well as post-build technologies involved in operations, monitoring, and maintenance of built-world assets.
To see a full breakdown of all the deals tracked within the BuiltWorlds VC ecosystem, a further delineation of where this capital is being put to work, and insights into investment themes and trends, checkout BuiltWorlds 2023 Annual Venture Report.
The 2023 Venture West Conference is Quickly Approaching
Venture West 2023 is taking place in San Francisco March 20-22. At this conference leading built-world venture capitalists, strategic investors, and startups will meet to take the pulse of the industry’s startup ecosystem at the BuiltWorlds Venture Conference.
Check out our conference landing page where you can see a preliminary agenda and who's speaking. Members can also see who else will be attending the event. For more information use the link below:
$400M | Series D | March 1st, 2022 | United States
Veev is a building technology company that develops/manufactures homes.
Veev’s advanced technologies optimize every stage and square inch, powering our ability to create cutting-edge home experiences with unparalleled efficiency.
Lead Investor(s): Bond
Other Investor(s): LenX, Zeev Ventures, Fifth Wall, JLL Spark
$185M | Series B | February 18th, 2022 | United States
ICON develops advanced construction technologies that advance humanity. Using proprietary 3D printing robotics, software, and advanced materials, ICON is shifting the paradigm of homebuilding on Earth and beyond.
Lead Investor(s): Tiger Global
$181M | Series B | January 12th, 2022 | Columbia
Tul is one of the largest solutions in Latin America to find construction materials and hardware for the hardware, industrial, and construction sectors. Through their app, Tul offers products and services from multiple leading brands -- with a range of over 4000 products from 8000+ stores offering delivery within 24 hours.
Lead Investor(s): 8VC
Other Investors(s): Avenir Growth Capital, Coatue, Tiger Global, and SoftBank Latin America Fund
$142M | Series B | February 1st, 2022 | Canada
RenoRun is a leading e-commerce platform for construction and building materials that are disrupting the construction industry. We enable construction, contracting, and renovation professionals to build the world around us using technology.
RenoRun was born in 2017 with the insight that contractors and their employees spend too much time away from their job sites procuring materials. This startup has set out on a crusade to better serve contractors and to revolutionize the construction industry.
Lead Investor(s): Tiger Global
Other Investor(s): Sozo Ventures, SE Ventures, BDC Capital's Women in Technology and Growth Venture Co-Investment Funds, Fifth Wall, Desjardins Capital, Nicola Wealth, Export Development Canada, and TriplePoint Capital
$102M | Series D | March 2nd, 2022 | United States
OpenSpace is on a mission to bring new levels of transparency to construction. The company combines simple off-the-shelf 360° cameras, computer vision, and AI to make it incredibly easy to capture a complete visual record of a jobsite, share it via the cloud, and track progress remotely. Customers have used the platform to capture over four billion square feet of active construction projects around the world. OpenSpace is based in San Francisco, California.
Lead Investor(s): PSP Growth
Other Investor(s): BlackRock, Alkeon Capital Management, Menlo Ventures, and JLL
$96M | Venture | January 24th, 2022 | United States
Highwire is leading the Partner Elevation movement for builders and owners of capital projects. The world's most admired organizations — including Skanska, Merck, and Bond Brothers — use Highwire to ensure their contracting partners deliver great work, on budget and on schedule, by collaborating with them to dynamically mitigate safety, financial, quality and sustainability risks throughout every project lifecycle. Originally started as an internal risk assessment system at Harvard University, Highwire is now an independent company championing the Partner Elevation movement. Highwire is backed by global growth equity investor Summit Partners. The company is headquartered in Burlington, Massachusetts, with employees across the United States.
Lead Investor(s): Summit Partners
$69M | Series B | January 20th, 2022 | Austria
PlanRadar is an award-winning digital SaaS platform for documentation, task management, and communication in construction and real estate projects. The business operates across the globe, currently in over 60 markets.
PlanRadar services all markets across real estate and construction, adding value to every person involved in the building lifecycle, from contractors and engineers to property managers and owners. Our platform digitizes all daily processes and communication, enabling time savings, cost savings and allowing projects to be completed to a higher quality.
Lead Investor(s): Insight Partners and Quadrille Capital
$66M | Later Stage | September 28th, 2022 | United States
The only full lifecycle platform designed by project managers; delivering real-time collaboration, powerful automated reports, and accurate forecasting.
SiteTracker's mission is to power the successful deployment of critical infrastructure. Sitetracker, Inc. powers the successful deployment of critical infrastructure. As the global standard for managing high-volume projects, the Sitetracker Platform enables growth-focused innovators to optimize the entire asset lifecycle. From the field to the C-suite, Sitetracker enables stakeholders to optimize how they plan, deploy, maintain, and grow their capital asset portfolios.
Market leaders in the telecommunications, utility, smart cities and energy industries rely on Sitetracker to manage millions of sites and projects representing over $23 billion of portfolio holdings globally.
Lead Investor(s): Energize Ventures
Other Investor(s): H.I.G. Growth Partners, National Grid Partners, Clearvision, NTT Docomo Ventures, Kingfisher Investment Advisor, and The Raine Group
$260M | Series C | October 19th, 2022 | Sweden
H2 Green Steel (H2GS AB) was founded in 2020, with the ambition to accelerate the decarbonization of industry using Green Hydrogen. Steel is the company’s first industry vertical due to its technological and commercial maturity when it comes to CO2 reduction possibilities.
H2 Green Steel accelerates the decarbonization of the European steel industry, one of the largest carbon dioxide emitters. H2 Green Steel is headquartered in Stockholm, Sweden, with its first plant under development in Boden, northern Sweden.
Lead Investor(s): AMF, GIC, Schaeffler, Altor
Other Investor(s): Hitachi Energy, Kobe Steel, Kinnevik
$175M | Series D | May 5th, 2022 | United States
Material Bank® is a marketplace for design professionals and brands in the architecture and design industry, providing the fastest and most powerful way to discover and sample materials. The revolutionary platform powers complex searches across hundreds of brands in seconds. Samples ordered by midnight (ET) are delivered in a single box by 10:30 AM the next day—always free for design professionals. With a rapidly growing community of members, Material Bank is the easiest way for brands to connect with thousands of vetted design professionals in the specification process.
Lead Investor(s): Brookfield Growth
Other Investor(s): Fifth Wall, SoftBank Vision Fund 2, and RXR
6. Carbon Clean
$150M | Series C | May 16th, 2022 | United Kingdom
Carbon Clean is an established global leader in industrial carbon capture solutions helping essential, but hard-to-abate, industries decarbonize. Our innovative solutions significantly reduce the costs and environmental impacts of carbon capture compared to conventional technologies. Technology to achieve 'net zero'.
1. Emerson Climate Technologies acquired by Blackstone
$14B Valuation | Acquisition | October 31st, 2022 | United States
Emerson has entered into an agreement to sell a majority stake in Climate Technologies to private equity funds that are managed by Blackstone. Climate Technologies provides innovative HVACR solutions for residential and commercial properties. Blackstone is a global investment firm that manages the private equity firms that are acquiring Climate Technologies from Emerson.
2. Ambuja Cements & ACC (Holcim India) acquired by Adani Group
$10.5B Valuation | Acquisition | September 16th, 2022 | India
Adani Group, an Indian multinational conglomerate, has pledged a 63.15% stake in Ambuja Cements and a 56.69% stake in ACC -- acquiring both companies from Holcim India. Ambuja Cements and ACC are two of the leading cement and concrete producers in India.
3. Equans acquired by Bouygues Construction
$6.2B Valuation | Acquisition | October 4th, 2022 | France
Bouygues Construction, one of the leading construction companies in France, has bought out 100% of the shares from Engie in Equans -- another construction company based in France. Bouygues hopes that this acquisition will allow the employees at both companies to better achieve their goals of meeting the challenges associated with the digital, environmental, and industrial transitions in the AEC industry.
4. Ahern Rentals acquired by United Rentals
$2B Valuation | Acquisition | November 14th, 2022 | United States
United Rentals, one of the largest AEC rental companies in the world, has acquired Ahern Rentals, the largest independently operated rental company in the United States. Together, they plan to expand their rental capabilities to all sizes and types of contractors and clients.
5. Transporeon acquired by Trimble
$1.98B Valuation | Acquisition | December 12th, 2022 | Germany - United States
Trimble, aiming to better connect the physical and digital world, has acquired Transporeon, a cloud-based transportation management software platform. This acquisition will enhance the productivity and sustainability solutions for customers of both companies, while also allowing Transporeon's solutions to be scaled further.
$1.2B Valuation | Acquisition | February 25th, 2022 | United States - Sweden
Hexagon, a global information technology company, has acquired ETQ, a compliance and risk management software that has use cases in the AEC industry. This acquisition expands Hexagon's grasp over software services.
Undisclosed Valuation | Acquisition | June 7th, 2022 | France
Bien'ici, one of the leading real estate research companies in France, has acquired Habiteo -- a company that is digitizing solutions for the real estate industry. This acquisition will allow Bien'ici to expand its reach within real estate.
9. Streetlytics acquired by Teralytics
Undisclosed Valuation | Acquisition | July 26th, 2022 | United States - Switzerland
Swiss company Teralytics has acquired Streetlytics from Bentley Systems. Streetlytics data analytics solutions will allow Teralytics to provide better digital twin solutions of cities and countries for its clients.
Undisclosed Valuation | Acquisition | December 16th, 2022 | United States
Oracle has acquired Newmetrix -- expanding the company's ability to provide analytics solution in construction. With this acquisition, customers of Oracle/Newmetrix will see more risk reduction in the plan, build, and operating lifecycle of their built world projects.
VC/CVC Fund Raising
Fund III | $866M | December 13th, 2022
Founded in 2016, Fifth Wall, a Certified B Corporation, is the largest venture capital firm focused on technology-driven innovation for the global real estate industry. With approximately $3.0 billion in commitments and capital under management, Fifth Wall connects many of the world’s largest owners and operators of real estate with the entrepreneurs who are redefining the future of the Built World. This fund is Fifth Wall's first hybrid fund, comprised of both early-stage and late stage-vehicles.
2. SE Ventures
Fund II | $500M | November 17th, 2022
SE Ventures is a 1 billion EUR venture capital fund based in Menlo Park, CA created in close partnership with Schneider Electric -- recognized as the world’s most sustainable company in 2021 by Corporate Knights Global 100 Index. SEV provides risk capital to big ideas and bold entrepreneurs who can benefit from Schneider’s energy and industrial expertise, global reach and ready customer access. Fund II will begin deployment in January 2023, doubling down on SE Ventures’ track record of success as an accelerant for category-defining companies in climate-tech, industrial AI, mobility, prop-tech, and cybersecurity.
3. Camber Creek
Fund IV | $325M | February 23rd, 2022
Camber Creek is a venture capital firm providing strategic value and capital to operating technology companies focused on the real estate market. According to a managing partner at Camber Creek, "real estate has always been one of the most networked industries, and as we have continued to scale our platform, we have found that these network effects can be harnessed to create value for industry stakeholders willing to embrace innovation while driving outsized investor returns."
Fund II | $300M | April 21st, 2022
Construct Capital is an early stage venture capital firm founded in 2020. We invest in extraordinary founders building technology to transform the most foundational industries of our economy — from manufacturing and supply chain to food and transportation — that drive half our economy’s GDP yet are failing to meet customer expectations. Fund II includes $225M for early-stage companies and $74M for later-stage opportunities.
5. CRH Ventures
Fund I | $250M | December 15th, 2022
CRH Ventures is the venture capital unit of CRH, the global leader in building materials solutions. They partner with and invest ambitiously and strategically in ConTech and ClimateTech start-ups across the entire construction value chain. CRH Ventures will also focus on early-stage minority investments in digitization, industrialization, marketplace-enablement, decarbonization, and next-gen products.
6. Builders VC
Fund II | $250M | January 25th, 2022
Builders believes it takes more than great technology to fix an antiquated industry. To truly make impactful change, Builders backs entrepreneurs who combine courage, technical acumen, and operational expertise. Fund II will focus on antiquated industries such as agriculture, food, supply chain, industrial, and logistics.
Fund I | $100M | August 15th, 2022
Suffolk Technologies is a leading built environment venture capital firm investing in startups transforming the construction and real estate sectors. Suffolk Technologies leverages Suffolk’s tech-forward construction business ($5B annual), innovation testbed/job sites, domain expertise and trade networks to accelerate development of new technology products and to scale their adoption across the ecosystem.