AI-powered construction transformation system Disperse has raised $15 million at a Series A funding round led by Northzone.
Disperse was founded in 2015 out of a London School of Economics entrepreneurship incubator and grew rapidly through co-innovation with strategic customers in the UK.
The company’s solutions capture and process visual data from physical sites and deliver actionable insights, freeing project teams from repetitive administrative tasks and providing management with the resources and digital capabilities to fundamentally change the way their companies operate.
Disperse is deployed across more than 14 million square feet of construction in the UK and the US, and has been selected as the solution of choice by executive leadership across industry-leading developer and contractor portfolios in London including Meyer Bergman, Lodha, Mace and Canary Wharf Contractors.
The Series A investment will be used to fuel further expansion into the US market, and to accelerate product R&D in conjunction with select customers.
Felix Neufeld, founder and CEO of Disperse said: “The big problem in our industry is that as soon as things start going wrong, everybody starts looking for someone to blame; developers blame general contractors and general contractors blame subcontractors, but the finger pointing and subjectivity only causes more productivity loss. The truth is, the weaknesses are systemic.
“The most valuable asset that any company has is its people, and we want to free up those people to focus on more creative and strategic endeavours and equip them with the right solutions to rethink how construction is managed.
He continued: “Northzone is exactly the type of partner we want in a venture capital firm, and we are thrilled to team up with such seasoned professionals who know how to build world-class technology companies. Our partnership with Northzone means we’ll be able to solve this industry’s biggest problems even faster.”
Michiel Kotting, Partner at Northzone added: “We see industries that have traditionally been slower to innovate, increasingly being disrupted by technology. If applied in the right way, AI can strongly accelerate this momentum.
“As the construction industry has a trillion dollar productivity gap, we have been on the look-out for bold entrepreneurs that address this challenge. Due to the strong product market fit and unique approach, Disperse