Equipment Management Technology Deals in Overdrive, As Investors Converge on Sector

Project Collaboration Software seems to get all the attention in the world of construction technology, and not without merit. Companies like Aconex, Bentley, Plangrid, and PROCORE continue to grab headlines with valuations for the category pushing closer and closer to the $10 billion dollar range.  Despite all the headlines around digitization of project management workflows, investment in construction equipment technology in areas such as equipment marketplaces, equipment management, and autonomy may actually garner more investment this year. The sector has been heating up with big players like Caterpillar, Command Alkon, ITOCHU, Momenta Ventures, and Ritchie Brothers making investments in the sector. With the advances being made, we may yet find that the key to advancing construction productivity in this century, as in the prior century, lies in better, smarter, and more technology-enabled construction machinery.

While Other Areas Grab Headlines, Equipment Grabs Investment Dollars

BuiltWorlds tracks investments in construction technology (members can access our Venture Dashboard for the complete list), and after project management, a sector bolstered by PROCORE's $150 million private placement in May of 2020, the next two biggest categories for investment were in equipment technology, as the chart below shows. Out of more than 60 deals in the construction technology sector we tracked this year, two of the top company types garnering investment were in the equipment sector.

2020 investment activity by category

Notable Deals This Year in the Construction Equipment Tech Sector (See our Deal Dashboard for more):

Although it may be more difficult to leverage advanced machinery to drive productivity in the construction industry than in other sectors where manufacturers can maintain a consistent and controlled environment, contractors have always loved their tools and equipment, knowing full well that along side the best plan for the project and the best labor, the best tools and equipment make the job.  As we indicated in a briefing this past August (Equipment Management Software Becomes Table Stakes; Four Key Factors and 20 Leading Players In the Sector Now), solutions continue to pour into this part of the industry's technology sector. Also, as we discussed in our recent Analyst Call with Milwaukee Tool and Autodesk, companies are also forming alliances and integrations to drive more value in the sector. The challenge is being met from many angles, but as investment continues to pour into the sector, and new solutions continue to become more robust, it is increasingly clear that the 21st century will bring radical change to construction equipment, and to how that equipment is managed.





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