Tech startup Mercator AI will use its $3.75M USD seed funding to accelerate its growth
Real-time construction intelligence platform Mercator AI, based in Calgary, Alberta, announced a $3.75 million seed round that was oversubscribed and successful.
Real-time construction intelligence platform called Mercator AI helps business developers in the building, real estate, and manufacturing industries locate and qualify new prospects more quickly.
Millions of data points from commercial and industrial projects are mined and analyzed by the platform, which then identifies signs of early construction activity, identifies those participating, and links this active project information to detailed corporate profiles.
“We are incredibly grateful for the support of our investors and to have had the opportunity to raise earlier than we planned. To be joined by such talented and influential industry leaders is a testament to the strength of our mission and the hard work of our team over the past 8 months,”
said Chloe Smith, CEO and Co-founder of Mercator AI
Freestyle Ventures and Builders VC jointly led the round with backing from a group of other well-known investors, including Standup Ventures and Zacua Ventures, with participation from The51, Dustin DeVan (former CEO of Building Connected), and other illustrious angel investors.
With the recently acquired capital, Mercator AI will hasten its entry into the US and Canadian markets in 2023.
The money will also help Mercator AI expand its staff, speeding up the creation of its platform and improving its current early project identification service. Additionally, Mercator AI intends to expand its solutions to business development, operations, and marketing specialists in the manufacturing, real estate, and construction industries.
The creation of Mercator AI’s early project detection tool will be accelerated over the following 24 months with the goal of providing pre-construction teams with macro industry insights, competition information, and client monitoring tools.
The first industry intelligence platform for the construction sector, Mercator AI, analyzes millions of construction activities from planning to completion. When it comes to commercial and industrial projects, Mercator AI can spot signs of early construction activity, identify those engaged, and present its users with individualized, lucrative prospects as they arise.
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