Homebuilding AI startup Higharc bags $90M in Series C funding
Homebuilding artificial intelligence startup Higharc said today it has raised $95 million in a Series C round of funding to transform the way construction projects are planned and run.
Today’s round was led by Insight Partners, and saw participation from a host of other venture capital firms, including Wellington Management, Fifth Wall, Spark Capital, Lux Capital and SE Ventures, the investment arm of Schneider Electric SE.
Higharc says it’s trying to use AI algorithms to bring order to the chaotic process of homebuilding, which requires tons of organization and planning before the first foundation trench is even dug. Architects have to produce designs, engineers have to check them against local codes, and then estimators pour over those plans to count each piece of two-by-four, drywall and all of the window frames and everything else that goes into it. There are permits and utility connections to consider.
The entire process typically takes up to a year before actual construction work begins, and even then, much of the planning goes out of the window, with cost overruns being so common that most developers budget for them. It’s this organizational mess that Higharc is trying to rein in with its specialized AI models, which are designed to automate complex workflows across building design, 3D modeling, estimating costs, sales and construction documentation.
