PRESS RELEASE FROM ALICE TECHNOLOGIES
Construction technology leader ALICE Technologies today announced a $30M funding round led by Vanedge Capital. Additional new investors include Bouygues, Gaingels, GRIDS Capital, JLL Spark, and MetaPlanet, which joined the round along with existing investors Future Ventures, Merus Capital, and Rising Tide. ALICE Technologies' construction optioneering platform helps large contractors plan, bid and build complex infrastructure and commercial projects more efficiently and with reduced risk.
Large general contractors worldwide – companies such as Bouygues, Kajima, and Skanska – use ALICE to help them plan and manage complex projects such as bridges, tunnels, high speed rail systems and mixed-use towers.
"Rooted in generative construction and powered by AI, the ALICE platform is bringing capabilities to general contractors that traditional solutions simply cannot match," said ALICE Founder and CEO René Morkos. "This Series B funding round will fuel the aggressive hiring, global growth, continued product innovation, and sales and marketing expansion required to make ALICE an industry standard."
"In an industry that accepts major cost and schedule overruns as the norm, ALICE Technologies is poised to transform the way the world builds,"Managing Partner at Vanedge Capital
ALICE customers use the platform on key projects from preconstruction through project delivery. During preconstruction, contractors use ALICE for "optioneering" – to explore the scenarios that make the most efficient use of project resources (labor, equipment, and materials) and to test the impact of changes in key variables on project outcomes. For example, a manager might use ALICE Precon to determine if it makes sense to add a third crane to a project. The rigorous use of ALICE to create and test options enables customers to submit the precise, well-tested bids they need to win profitable business. During the execution phase, contractors then use ALICE Manage to keep their projects on time and on budget. If circumstances change – as they inevitably do on most construction projects – customers can then use ALICE to quickly update project plans and recover from project delays.
"In an industry that accepts major cost and schedule overruns as the norm, ALICE Technologies is poised to transform the way the world builds," said Paul Lee, Managing Partner at Vanedge Capital. "The ALICE platform gives general contractors the ability to easily explore construction choices and chart a path that best balances risk, time and cost. This is a distinctive, high-growth business led by a uniquely qualified team, and we're excited to support ALICE's growth and success."
In 2021, ALICE Technologies grew its ARR by 270%. It acquired notable new customers, such as Bouygues Construction and Skanska, and expanded its business with existing customers, such as Kajima and Shimizu. ALICE also grew its team both in the U.S. and abroad.
In describing his company's work with ALICE, Chris Baze, Senior BIM Manager at Hawaiian Dredging Construction Company, said, "By enabling us to create and evaluate numerous different ways in which to build our projects, ALICE gives our team the ability to find creative building solutions and quickly pivot when 'planned' and 'actual' start to differ. We're confident that ALICE will have a big impact not only on HDCC, but on our industry as a whole."
Read the press release on PRNewswire here.