Cavalry x PlanRadar
PlanRadar, Europe’s leading digital field management platform for construction and real estate projects, today announced a EUR 60 million fundraising round co-led by Insight Partners and Quadrille Capital. The third-largest Series B in Austrian history and the largest-ever for a B2B company, the round also drew substantial participation from existing investor Cavalry Ventures. Additional participants included returning investors Headline, Berliner Volksbank Ventures, and aws Gründerfonds, along with new investors Proptech1, Russmedia, and GR Capital.
Key to success: Sustainable expansion
Having initially invested in 2017 during the Seed round we couldn’t be happier about this fantastic funding round and the overall development of PlanRadar. Since launching in Vienna, Austria, in 2013, PlanRadar has swiftly established itself as Europe’s leading PropTech solution, with a full-service construction and real estate management platform known for adding value at every stage of the building lifecycle. In the 18 months since its EUR 30 million Series A round, PlanRadar has seen revenue increase by over 250% and has more than doubled its customer base. Its innovative solution is now trusted by 14,500 customers and used daily by 100,000 industry professionals in over 60 countries to drive project efficiencies and ensure high quality completion.
PlanRadar’s rapid growth has been enabled by a commitment to global expansion, including launching in 10 new markets across Europe and Russia since 2020. The company’s diverse team of 200+ employees serves customers in over 20 languages from offices in Vienna, London, Amsterdam, Moscow, Paris, Madrid, Milan, Zagreb, Warsaw, and Bucharest. The company’s growing footprint also reflects a commitment to innovating its core platform, including the recent addition of reporting, integrations, and BIM technologies.
What’s next for PlanRadar?
The new funding will support PlanRadar as it doubles down on international expansion and technological development. New offices are set to open in the United States, Australia, the Gulf Cooperation Council (GCC), Southeast Asia, and Latin America. The company will also boost R&D investment, creating a new tech hub and a dedicated product innovation team to bring sector-defining new technologies to its game-changing SaaS platform. In total, PlanRadar will create over 200 new jobs, nearly doubling its global headcount over the coming 12 months.
Our warmest congratulations go to Sander van de Rijdt, Ibrahim Imam, Domagoj Dolinsek, Clemens Hammerl, Constantin Köck and the whole team! To five more years — and then some!
In view of the occasion, Stefan Walter, Managing Partner at Cavalry, sat down with Sander van de Rijdt, PlanRadar Co-Founder and Co-CEO at PlanRadar. They talk about the funding round and which strategic decision has ensured PlanRadar’s long-term growth. Enjoy!