TraceAir Secures $25 Million Series B Funding to Drive Innovation in Land Development

TraceAir, a provider of site intelligence software for homebuilders and land developers, announced the completion of a $25 million Series B funding round. The round was led by PeakSpan Capital with participation from Flashpoint Venture Capital and other existing investors. TraceAir's platform offers builders and developers a visual and collaborative construction management tool designed to provide data-driven insights, aimed at reducing costs, improving efficiency, and minimizing errors and delays.

Founded in 2015 by Maria Khokhlova, Dmitry Korolev, Alexander Solovyev, and Nikita Ushakov, TraceAir has grown to serve the top thirty homebuilders across more than 40 states and Canada. The company counts industry leaders such as DR Horton, Howard Hughes, and Lennar among its clients. TraceAir is focused on addressing the complex business needs of builders and land developers with its innovative technology solutions.

The construction technology market is expected to grow significantly, with predictions of exceeding $24 billion by 2033, up from $5 billion in 2023. This growth is anticipated to be driven by private equity investments in proptech and related sectors, as the industry grapples with challenges such as workforce shortages, supply chain issues, inflation, and evolving regulations. To date, TraceAir has raised a total of $36.9 million in funding over seven rounds.