# Canvas Construction

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/canvas-construction

- Industry: Construction
- Headquarters: San Francisco, US
- Website: www.canvas.build
- Total disclosed funding: $24M
- Latest round: Series B (Aug 24, 2023)
- Investors on record: 7

## About

Canvas Construction, Inc. specializes in robotic drywall finishing solutions, enhancing productivity and quality for contractors in the construction industry. Their innovative products address critical labor shortages and consistency challenges in large-scale projects.Founded in 2013 in San Francisco, US, Canvas Construction, Inc. offers robotic drywall finishing solutions. The company, co-founded by Adam Gefkovicz and Tariq Meyers, is led by CEO Haris Arshad. As of August 2023, the company has successfully completed 3 deals, including a recent Series B funding round where they raised USD 24.00 mn from investors such as Menlo Ventures and Alumni Ventures Group, bringing their total funding to the same amount.Canvas specializes in robotic drywall finishing solutions, particularly their flagship product, the Canvas 1200CX, designed to enhance productivity in drywall finishing. This advanced machine operates with precision to deliver Level 4 and Level 5 finishes, improving quality and speed while ensuring affordability and safety. Targeted end users include construction companies and contractors facing labor shortages and the need for consistent quality in large-scale projects. By automating repetitive tasks, Canvas effectively addresses these industry challenges and markets its solutions across North America and select international regions.Canvas generates revenue through the direct sales of its advanced robotic drywall finishing machines, including the Canvas 1200CX. The transaction structure typically involves B2B sales, where clients may purchase machines outright or enter service agreements for ongoing support. Pricing plans are tailored to the specific needs and scale of clients, reflecting the complexity of the machines. Additionally, partnerships with construction firms allow for customized solutions, enhancing their value proposition in the industry.In August 2023, Canvas Construction, Inc. raised USD 24.00 mn in Series B funding to support their growth initiatives. The company plans to launch new products specifically designed for expanded market needs and is targeting growth in North America and select international markets by the end of 2024. The recent funding will aid in enhancing product development and marketing efforts, facilitating the introduction of innovative solutions to improve drywall finishing processes.

## Funding rounds

- Series B, Aug 24, 2023 — Alumni Ventures Group
- Series B, Apr 15, 2021, $24M — Menlo Ventures, Innovation Endeavors, Obvious, Alumni Ventures Group, Brick & Mortar Ventures, Grit Ventures, Grit Ventures, Suffolk Construction

## Investors

- Menlo Ventures (https://capitalatlas.ai/funds/menlo-ventures) — Series B
- Innovation Endeavors (https://capitalatlas.ai/funds/innovation-endeavors) — Series B
- Obvious (https://capitalatlas.ai/funds/obvious) — Series B
- Alumni Ventures Group (https://capitalatlas.ai/funds/alumni-ventures-group) — Series B
- Brick & Mortar Ventures (https://capitalatlas.ai/funds/brick-mortar-ventures) — Series B
- Grit Ventures — Series B
- Suffolk Construction — Series B