Funding

PlanGrid raises $40M in Series B

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What does PlanGrid do?

PlanGrid, is a company which digitized the construction industry. It is a cloud based app which allows users for storing blueprints and construction documents on their iPhone and iPad. The company was creates for saving contractors their valuable time. With this company all project drawings are stored in the cloud so there are no more tracking down plan sets and leafing in changes. Users can publish once on the web and update everyone. The service is free up to 50 storage sheets with web access and iPad. There are also monthly fees which users have to bear.

How much PlanGrid was funded?

PlanGrid raised $40M in Series B funding on November 18th, 2015 from the investors Northgate Capital, Y Combinator,  Founders Fund, Sequoia Capital and Tenaya Capital.

Previous funding

  • $1.1M seed funding on May 29, 2012 from Y Combinator, Suleman Ali, Sam Altman, Paul Buchheit, Matt Cutts, Erik Moore, 500 Startups, Alexis Ohanian, Ray Levitt, Aaron Iba and ACE & Company, Base Ventures.
  • $18M in Series A funding on May 13, 2015 from Sequoia Capital, David Sacks and Ron Conway

What is next for PlanGrid?

PlanGrid has raised a total of $59.1M in 3 rounds to date. The company’s CEO Tracy Young says that they took the money, even though most of the money from the latest funding remains in the bank, as consumers have been demanding for a new functionality to be added to the product. The money will help the company in beefing up the development team to do it. The company has plans to expand their company to 300 or 350 employees by the end of 2015.
More about PlanGrid

PlanGrid was founded on January 16, 2012 by Ralph Gootee, Tracy Young, Ryan Sutton-Gee and Kenny Stone. It has its headquarters in San Francisco, California.

 

 

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