Menlo Park-based ALICE Technologies, a construction technology company, announced Monday it raised $30 million in Series B funding led by Vanedge Capital. Several new investors also subscribed to the round, including Bouygues, Gaingels, GRIDS Capital, JLL Spark and MetaPlanet, as well as existing investors Future Ventures, Merus Capital and Rising Tide.
ALICE’s “construction optioneering” platform allows contractors to virtually test out various project resources and scenarios before construction even starts. For example, a site manager could see the impact of adding a third crane to a project and make decisions based on how it could improve the project or affect the budget. This makes the pre-construction phase of projects more efficient and reduces costs down the line, according to ALICE.
“In an industry that accepts major cost and schedule overruns as the norm, ALICE Technologies is poised to transform the way the world builds,” Paul Lee, a managing partner at Vanedge Capital, said in a statement. “The ALICE platform gives general contractors the ability to easily explore construction choices and chart a path that best balances risk, time and cost. This is a distinctive, high-growth business led by a uniquely qualified team, and we’re excited to support ALICE’s growth and success.”
This new funding comes after a year of impressive growth. In 2021, ALICE said its ARR increased by 270 percent. The company also expanded its business with new customers like Bouygues Construction and Skanska and grew its team both in the U.S. and abroad.
Currently, ALICE is hiring for 12 positions across departments at its U.S. and international offices. More positions may also open up soon as the company puts its new funds to use to attract additional talent.
“Rooted in generative construction and powered by AI, the ALICE platform is bringing capabilities to general contractors that traditional solutions simply cannot match,” ALICE Founder and CEO René Morkos said in a statement. “This Series B funding round will fuel the aggressive hiring, global growth, continued product innovation and sales and marketing expansion required to make ALICE an industry standard.”
