L-R: Veyor COO and CFO Stephen Rockett, CTO Anil Roychoudhry and CEO Richard Fifita.
In a venture capital market obsessed with artificial intelligence, Australian construction tech firm Veyor has proved the biggest money is in solving the “boring” problems.
The company just raised $US7.5m ($10.6m), valuing it at up to $75m, to fix a logistics flaw costing the construction industry thousands of dollars per hour.
The round was led by international venture capital firm Marbruck Investments, with participation from CoAct and returning investors Investible and SpringCapital. This follows a $2.75 million pre-Series A round in 2024.
What Veyor Does
Veyor builds operational software that digitises site logistics and materials coordination. The company says this is an area of construction that is still frequently managed through email chains and spreadsheets.
The platform functions as a real-time system of record for deliveries and material flows, bringing together contractors, suppliers, tenants and operators across complex projects and assets.
After pricing the model in Oz , Veyor’s CEO and co-founder Richard Fifita says the Vision is to become the system of record for site logistics globally.
The US now accounts for more than 30% of its revenue and is growing at more than 150% year on year. The company supports more than 60 customers across 30-plus US states and expects the US to exceed 50% of total revenue within 12 to 24 months.
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