London AI start-up Disperse has raised $15m in a series A funding round.
Founded in 2015, the company’s technology captures and processes visual data from physical sites and removing manual steps from critical construction processes. It is designed to help contractors in uncovering and rooting out systemic bottlenecks, inefficiencies and sequence deviations.
Created out of a London School of Economics entrepreneurship incubator, the VC-backed company’s technology is now deployed across more than 14 million square feet of construction in the UK and the US, and has been selected as the solution of choice by executive leadership across developer and contractor portfolios including Meyer Bergman, Lodha, Mace and Canary Wharf Contractors.
The investment round will be used power expansion further into the North American market, and will help to speed up product research and development in conjunction with select customers.
“The most valuable asset that any company has is its people, and we want to free up those people to focus on more creative and strategic endeavors and equip them with the right solutions to rethink how construction is managed,” said Disperse CEO and co-founder Felix Neufeld.
“Northzone is exactly the type of partner we want in a venture capital firm, and we are thrilled to team up with such seasoned professionals who know how to build world-class technology companies. Our partnership with Northzone means we’ll be able to solve this industry’s biggest problems even faster.”
Michiel Kotting, Partner at Northzone, added: “Due to the strong product market fit and unique approach, Disperse builds deep partnerships with construction companies and delivers transformative ROI from day one and thus has strong momentum.
“Felix and his team impressed us with their ability to create a solution loved by everyone in the industry, from boardroom to project site. We’re excited to partner with them.”