Versatile Overview
Versatile addresses inefficiencies in construction, particularly with managing cranes and jobsite productivity, which can lead to delays, overtime, and suboptimal resource use. Versatile develops a hardware and software solution that collects data on crane activities, providing real-time insights to optimize crane usage, track site productivity, and improve decision-making.
Cumulative Funding Raised Over Time ($)
$5.5MAug 2019
$25.5MDec 2020
$26.5MFeb 2018
$28.5MFeb 2019
$108.5MSep 2021
Latest News
growth-positive
Contech startup Versatile appoints Eishay Smith as new CEO | CTech
Construction technology startup Versatile has appointed Eishay Smith as its new CEO, succeeding company founder Meirav Oren who will transition to the role of active chairman. Smith, who previously served as the companys General Manager in Israel and CTO, will oversee operations from Israel, while Oren will continue her chairmanship from Silicon Valley. This comes as part of a strategic organizational change that included the cancellation of activities in the U.S. and Israel, and the companys return to growth and recruitment in Israel. Versatile had previously secured $80 million in a Series B funding round led by Insight Partners and Tiger Global Management.
Management ChangesLayoffsExpand
growth-positive
Israeli AI construction optimization co Versatile raises $80m
Versatile, an Israeli AI construction optimization company, has completed an $80 million Series B financing round led by Insight Partners and joined by Tiger Global. The funds will be used to strengthen its data-driven capabilities and expand services to insurers and across the construction value chain. Versatiles leading product, CraneView, collects data on construction progress and process, providing insights on jobsite performance. Since its launch in 2019, CraneView has been adopted by over 40% of the leading general contractors in North America.
InvestmentExpand
growth-positive
With $20 Million Round Led by Insight Partners & Joined by London's Entree Capital, Meirav Oren's Versatile May Be Construction's Most Global Startup - BuiltWorlds
Versatile, a Construction tech AI Startup, has experienced growth-positive impact. The company has attracted international investors and raised significant funding rounds. In August 2019, Versatile secured a $5.5 million Seed round led by Robert Bosch Venture Capital and Conductive Ventures. In June 2020, the company was recognized as a Technology Pioneer by the World Economic Forum. This month, Versatile announced a $20 million funding round led by Insight Partners and joined by Entree Capital. The company has made inroads into the US Construction industry and has been praised for its predictive analytics capabilities. Versatile is positioning itself as a leading player in the global construction technology market.
PartnersInvestment
"תמיד מישהו מחכה למנוף": מירב אורן סגרה 20 מיליון דולר בסיבוב הראשון
growth-positive
AI construction startup Versatile raises a $20M Series A
San Francisco-based construction startup Versatile has raised $20 million in a Series A funding round led by Insight Partners and Entree Capital. The company has developed hardware that can be mounted to a crane to capture and analyze data across construction sites. With the funding, Versatile plans to accelerate the availability of its technology and develop additional AI components for users. The construction industry, which spends around $10 trillion annually, is ripe for investments that promise greater efficiency.
Investment
| Sector | Industrial Technologies |
Funding
| Total funding | $108.53M |
| Last funding | $80M |
| Stage | B |
| Rounds | 6 |
| Investors | 11 |
Team Members
6
Employees: 201-500
Web & Social Links
| Website | www.versatile.ai |
| Careers | Careers page |
Locations
Soncino St 3, Tel Aviv-Yafo, Israel
153 2nd Street, Los Altos, CA 94022, USA
Boca Raton, FL, USA
Photos & Videos
4 item(s)
Versatile Business
Business models
B2B
Product stage
Released
Employees
201-500
Sector
Industrial TechnologiesProcess Automation & Intelligence SystemsTarget Customer
Real Estate & ConstructionConstructionCore Technology
Data StorageCloudCommunicationsIOTArtificial IntelligenceMachine LearningTags (13)
saasartificial-intelligencebig-data-analyticssafetymachine-learningiotconstructionmanagement-solutionscloudreal-estateproductivityindustry-4.0sensorsGeographic Markets
North AmericaVersatile Financials
$108.53M
Total funding
Undisclosed
Capital raised
$80M
Last funding
B
Funding stage
6
Total rounds
11
Investors
Cumulative Funding Raised Over Time ($)
$5.5MAug 2019
$25.5MDec 2020
$26.5MFeb 2018
$28.5MFeb 2019
$108.5MSep 2021
Private Equity Funding
B Round
Sep 2021
$80M
Insight Partners (Lead)
,
Rob Phillpot, Entrée Capital, Conductive Ventures, Tiger Global Management, Robert Bosch Venture Capital, Leigh Jasper
A Round
Dec 2020
$20M
Insight Partners (Lead)
,
Robert Bosch Venture Capital, Root Ventures, Rob Phillpot, Conductive Ventures, Entrée Capital, Leigh Jasper
Seed
Aug 2019
$5.5M
Robert Bosch Venture Capital (Lead)
,
Leigh Jasper, Conductive Ventures, Rob Phillpot, Root Ventures
Pre-Seed
Feb 2019
$2M
Urban Innovation Fund, Lagziel family, Root Ventures
Pre-Seed
Feb 2018
$1M
Lagziel family, Urban Innovation Fund, URBAN-X
Non-Equity Funding
GrantEvent
Nov 2016
$33K
Versatile Lifecycle
Cumulative Funding Raised Over Time
$5.5MAug 2019
$25.5MDec 2020
$26.5MFeb 2018
$28.5MFeb 2019
$108.5MSep 2021
All Events
B Round
Sep 2021
$80M
Insight Partners (Lead)
,
Rob Phillpot, Entrée Capital, Conductive Ventures, Tiger Global Management, Robert Bosch Venture Capital, Leigh Jasper
A Round
Dec 2020
$20M
Insight Partners (Lead)
,
Robert Bosch Venture Capital, Root Ventures, Rob Phillpot, Conductive Ventures, Entrée Capital, Leigh Jasper
Seed
Aug 2019
$5.5M
Robert Bosch Venture Capital (Lead)
,
Leigh Jasper, Conductive Ventures, Rob Phillpot, Root Ventures
Pre-Seed
Feb 2019
$2M
Urban Innovation Fund, Lagziel family, Root Ventures
Pre-Seed
Feb 2018
$1M
Lagziel family, Urban Innovation Fund, URBAN-X
GrantEvent
Nov 2016
$33K
Versatile News
12 articles
growth-positive
Contech startup Versatile appoints Eishay Smith as new CEO | CTech
Construction technology startup Versatile has appointed Eishay Smith as its new CEO, succeeding company founder Meirav Oren who will transition to the role of active chairman. Smith, who previously served as the companys General Manager in Israel and CTO, will oversee operations from Israel, while Oren will continue her chairmanship from Silicon Valley. This comes as part of a strategic organizational change that included the cancellation of activities in the U.S. and Israel, and the companys return to growth and recruitment in Israel. Versatile had previously secured $80 million in a Series B funding round led by Insight Partners and Tiger Global Management.
Management ChangesLayoffsExpand
growth-positive
Israeli AI construction optimization co Versatile raises $80m
Versatile, an Israeli AI construction optimization company, has completed an $80 million Series B financing round led by Insight Partners and joined by Tiger Global. The funds will be used to strengthen its data-driven capabilities and expand services to insurers and across the construction value chain. Versatiles leading product, CraneView, collects data on construction progress and process, providing insights on jobsite performance. Since its launch in 2019, CraneView has been adopted by over 40% of the leading general contractors in North America.
InvestmentExpand
growth-positive
With $20 Million Round Led by Insight Partners & Joined by London's Entree Capital, Meirav Oren's Versatile May Be Construction's Most Global Startup - BuiltWorlds
Versatile, a Construction tech AI Startup, has experienced growth-positive impact. The company has attracted international investors and raised significant funding rounds. In August 2019, Versatile secured a $5.5 million Seed round led by Robert Bosch Venture Capital and Conductive Ventures. In June 2020, the company was recognized as a Technology Pioneer by the World Economic Forum. This month, Versatile announced a $20 million funding round led by Insight Partners and joined by Entree Capital. The company has made inroads into the US Construction industry and has been praised for its predictive analytics capabilities. Versatile is positioning itself as a leading player in the global construction technology market.
PartnersInvestment
"תמיד מישהו מחכה למנוף": מירב אורן סגרה 20 מיליון דולר בסיבוב הראשון
growth-positive
AI construction startup Versatile raises a $20M Series A
San Francisco-based construction startup Versatile has raised $20 million in a Series A funding round led by Insight Partners and Entree Capital. The company has developed hardware that can be mounted to a crane to capture and analyze data across construction sites. With the funding, Versatile plans to accelerate the availability of its technology and develop additional AI components for users. The construction industry, which spends around $10 trillion annually, is ripe for investments that promise greater efficiency.
Investment
growth-positive
The ConTechCrew 227: Hooked on Sensors with Meirav Oren from Versatile
The article is a transcript of an interview with Meirav Oren, the CEO of Versatile, a company that uses sensors on crane hooks to collect data from construction sites. The data collected helps to understand the load style and how it relates to the manufacturing process on a construction site. The company recently announced a partnership with the Crosby Group, which provides all of Versatiles load-bearing elements. Versatile has also raised funding from the co-founders of Aconex and Bosch.
InvestmentExpand
growth-positive
Versatile.ai Turns Your Crane into a Data Collecting Powerhouse Using AI - Construction Junkie
Versatile.ais hardware and software solution called CraneView collects data from cranes to make better business decisions in construction projects. The CraneView hardware measures load, weight, and motion, and is equipped with cameras and sensors. The collected data is compiled into meaningful charts and graphs using software. Turner Construction Company has used CraneView on some projects and has seen considerable productivity gains, reducing the project schedule by 17 days. The insights gained from the data have led to data-driven decisions that positively impacted productivity. Proactive use of the insights is necessary to gain real value from the technology.
CustomersPartners
Turner Construction Finds Major Productivity Gains in Sensor System for Cranes
growth-positive
Versatile's CraneView at Crosby's ConExpo booth - Cranesy
Versatiles CraneView™ loadbearing and measuring assembly will be exhibited at The Crosby Groups booth at ConExpo-Con/Agg. Versatile has partnered with The Crosby Group to deliver a platform that helps project teams make decisions in the field. The partnership integrates Versatiles CraneView™ with Crosby Straightpoints load monitoring technology and rigging hardware. The product provides real-time insights for cycle time, overtime, and crane demobilization. The Crosby Group will showcase a range of products at the exhibition. Versatiles previous client engagements have shown positive impacts on crane cycle time reduction, overtime reduction, and earlier crane demobilization. The product will be showcased at The Crosby Groups booth at ConExpo-Con/Agg.
Partners
growth-positive
Versatile Natures raises $5.5m to cut building site deaths
Israeli construction site data startup Versatile Natures has raised $5.5 million in a seed financing round led by Bosch Venture Capital. The companys AI and IoT sensor-based software platform for construction sites reduces inefficiencies and improves onsite safety. The platform provides detailed analysis on project status and delivers real-time actionable insights to construction managers. Versatile Natures aims to revolutionize the construction industry by increasing efficiency and empowering professionals on construction sites.
Investment
growth-positive
The startups that connect the bulldozers to the cloud
Israeli startup Versatile Natures has developed technology to make cranes smart, aiming to improve efficiency and safety in the construction industry. The companys software uses sensors in the cranes hook to identify the load, speed, and location on the building site, and can warn of potential collisions or dangers. Versatile Natures recently completed the proof of concept stage and is seeking investment. The construction industry has been slow to adopt digital methods, but there is growing interest among investors in construction technology. The field is in its infancy but has raised $800 million since 2012. Contractors are starting to show interest in investing in high-tech solutions to improve productivity and streamline processes.
InvestmentExpand
growth-positive
Meirav Oren: Our Woman Entrepreneur of the Month
Meirav Oren, co-founder and CEO of Versatile Ventures, is developing technology to bring the Internet of Things to construction sites. The Israeli startup aims to integrate construction cranes with a central server to improve efficiency. By connecting cranes to the internet, Versatile Ventures can collect and analyze data to provide real-time insights and alerts, potentially saving construction sites over $1 million. The company recently won a cash award from the MassChallenge accelerator program and is looking to raise $2 million in seed funding. Meirav Oren hopes to expand the company, bring in interns, and have more employees. Versatile Ventures aims to get its product to the market within 12 to 18 months.
Expand
Versatile Team
Employee Info
| Employees (range) | 201-500 |
| Exact count | 348 |
| Team members | 6 |
Similar Companies
Similar companies data is computed dynamically and not stored in the entity profile. This section requires implementing a similarity query (e.g. by classification overlap, sector, district).
This entity has 14 classification IDs that could be used for matching.
Versatile Internal
Recent Updates
No update log entries.
Note: Free-text notes visible in the original Finder "Internal" tab are not present in the imported profile data. Only the update audit log is available.
Admin Info
| Confidence | 99/100 |
| Missing | markets |
| BI Verification | Maor Perlov |
| Registrar ID | 515407690 |
| Crunchbase | versatile-natures |
| Last updater | Maor Perlov |
| Updater email | maor.perlov@sncentral.org |
| Last update | 2024-09-18T00:00:00.000Z |
| Created | 2016-08-18T00:00:00.000Z |
| Claimed | Yes |