Remato Raises $1.7M Seed Funding - Construction Management Platform

The Untapped Potential of Digitalization in Construction

A significant portion of the $1.6 trillion construction industry, particularly among small and medium-sized businesses (SMBs) in Europe and the United States, currently operates without the benefit of comprehensive digital platforms.

While established companies like Procore (NYSE: PCOR) cater to larger general contractors, a wave of emerging startups – including SiteMax, Sitemate, FieldLens, and Fieldwire – are specifically targeting this underserved SMB construction market.

Remato Secures Seed Funding

The Remato construction management platform is now entering this competitive landscape, having recently closed a $1.7 million seed investment round. This funding was spearheaded by London-based Passion Capital.

Beyond Passion Capital, the financing round saw participation from the founders and initial team members of Pipedrive. Several venture funds also contributed, namely Superangel, Lemonade Stand, Spring Capital, and Kaamos Group – a prominent property developer and general contractor.

This latest investment increases Remato’s total funding to $2.5 million. Currently, Remato provides its services to customers located in the Nordic and Baltic regions.

Platform Features and Growth

Established in 2018, Remato offers a platform designed to streamline operations for field contractors. It facilitates the planning and management of crucial elements such as budgets, labor resources, materials, and equipment, all within a single application.

The company reports consistent month-over-month growth of 10%-15%, driven by a mobile-first user experience. Remato currently boasts 1,700 daily active users.

Focus on User Experience

According to Co-founder and CEO Madis Lehtmets, “The construction industry is in need of simplicity and contemporary design to encourage widespread software adoption.”

He further emphasized the importance of user experience, stating, “We believe prioritizing this aspect is crucial, as successful implementation hinges on frontline worker acceptance. This will help the historically less technologically advanced industry to fully embrace digital solutions.”

Passion Capital’s Perspective

Eileen Burbidge, a partner at Passion Capital, expressed enthusiasm for the partnership with Remato. “Their progress to date demonstrably confirms the demand for intuitive digital experiences and platforms within the substantial construction sector,” she noted.

Burbidge added, “Representing 10% of the global economy, the construction industry presents a significant opportunity. We are eager to support the team as they expand their reach into the U.K., throughout Europe, and into North America.”