# Versatile

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/versatile

- Industry: Software
- Headquarters: Los Altos, US
- Website: www.versatile.ai
- Total disclosed funding: $89M
- Latest round: Series B (Sep 14, 2021)
- Investors on record: 8

## About

Based in the US, Versatile, Inc. operates as a technology company that streamlines construction site operations using advanced hardware and software solutions for data collection and analysis.Founded in 2016 and headquartered in Los Altos, US, Versatile, Inc. specializes in providing construction technology solutions. The company was established by founders Barak Cohen, Danny Hermann, Meirav Oren, and Ran Oren. With a focus on enhancing operational efficiency in construction, Versatile has successfully raised USD 60.00 mn in SERIES B funding on September 14, 2021, led by Insight Partners, which included participation from other notable investors such as Tiger Global Management. This recent funding round has brought the total amount raised by the company to USD 60.00 mn, with a current valuation of USD 477.73 mn.Versatile offers an innovative hardware and software solution designed to streamline construction site operations by collecting and analyzing valuable jobsite production data. Their core product, Versatile®, provides real-time insights into crane usage, helping clients optimize crane pick efficiency, reduce unnecessary overtime, and enhance overall site productivity. The solution generates daily reports from numerous data points throughout the pick cycle, empowering construction teams to make informed decisions that positively influence safety and task efficiency. Versatile primarily serves top construction firms in North America, aiding end users such as project managers, site supervisors, and contractors in gaining actionable insights through tools like Versatile Insights and the Procore integration.Revenue for Versatile is structured around a subscription model that grants clients access to its comprehensive suite of tools and data analytics. The company engages in B2B transactions, partnering with construction firms that utilize the Versatile solution for improved operational efficiency. Clients benefit from high-precision crane usage reports and insights generated through the platform, which are seamlessly integrated into their existing project management software. The revenue model encompasses tiered pricing plans based on the scale of usage or number of cranes monitored, allowing firms to tailor their subscriptions to match their operational demands. Flagship services include the Versatile Insights and Procore integration, which enhance daily logging and reporting functionalities, ensuring that clients can maximize the value of their investment in the Versatile platform.In September 2021, Versatile, Inc. raised USD 60.00 mn in SERIES B funding to support its rapid growth and strengthen its data-driven capabilities, with the goal of expanding its services to insurers and across the construction value chain. The company plans to launch new products aimed at improving operational efficiencies within construction sites, although specific release dates for these products are currently not disclosed. Additionally, Versatile is focused on expanding into new geographic regions, targeting market opportunities in Europe and Asia by 2023.

## Funding rounds

- Series B, Sep 14, 2021, $60M — Insight Partners, Tiger Global Management, Robert Bosch Venture Capital, Entree Capital, Root Ventures, Conductive Ventures
- Series A, Nov 19, 2020, $20M — Insight Partners, Robert Bosch Venture Capital, Entree Capital, Root Ventures, Conductive Ventures
- Seed, Aug 21, 2019, $5.5M — Robert Bosch Venture Capital, Root Ventures, Conductive Ventures
- Seed, Feb 27, 2019, $2M — Root Ventures, Third Sphere
- Seed, Feb 24, 2018, $1M — Third Sphere, Urban-X

## Investors

- Third Sphere (https://capitalatlas.ai/funds/third-sphere) — Seed
- Urban-X (https://capitalatlas.ai/funds/urban-x) — Seed
- Root Ventures (https://capitalatlas.ai/funds/root-ventures) — Seed, Series A, Series B
- Robert Bosch Venture Capital (https://capitalatlas.ai/funds/robert-bosch-venture-capital) — Seed, Series A, Series B
- Conductive Ventures (https://capitalatlas.ai/funds/conductive-ventures) — Seed, Series A, Series B
- Insight Partners (https://capitalatlas.ai/funds/insight-partners) — Series A, Series B
- Entree Capital (https://capitalatlas.ai/funds/entree-capital) — Series A, Series B
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series B