Avvir has raised $13.2M in total across 3 funding rounds.
Avvir's investors include Bessemer Venture Partners, Qualcomm Ventures, Tekfen Ventures, 43, Better Tomorrow Ventures, Calm/Storm Ventures, Chapter One Ventures, Crosslink Capital, Kindred Ventures, Kleiner Perkins, Nyca Partners, Urban Innovation Fund.
Avvir is a technology company that builds an automated construction platform leveraging computer vision and AI to create digital twins of building sites by comparing laser scans and photographs to building information models (BIM). It serves construction professionals by enabling real-time monitoring, mistake detection, and automated BIM updates, thereby reducing costly rework and improving project accuracy and efficiency. Founded in 2017 and headquartered in New York, Avvir has demonstrated growth momentum culminating in its acquisition by Hexagon in 2022, reflecting its strong position in construction digitization[1][2][3].
Avvir was founded in 2017 by a team with expertise in construction technology and AI, emerging from the need to streamline building compliance and progress tracking through weekly scans of construction models. Early traction was marked by successful funding rounds and rapid adoption of its reality analysis platform, which uniquely closes the loop by automatically updating BIMs, allowing users to focus on solving issues rather than finding them. The company’s rebranding and scaling efforts prior to acquisition highlighted its technological edge and growth trajectory in the construction tech space[1][3].
Avvir rides the growing trend of digital transformation in construction, particularly the adoption of AI, machine learning, and digital twins to improve project outcomes. The timing is critical as the construction industry increasingly demands precision, efficiency, and real-time data to reduce delays and cost overruns. Market forces such as rising labor costs, the need for sustainability, and the push for smart infrastructure favor Avvir’s solutions. By automating BIM updates and integrating reality capture, Avvir influences the broader ecosystem by setting new standards for construction monitoring and digital project management[1][2].
Looking ahead, Avvir is positioned to expand its impact by deepening AI capabilities, enhancing integration with other construction management tools, and scaling adoption globally through Hexagon’s platform. Trends such as increased use of IoT sensors, augmented reality, and predictive analytics will likely shape its evolution. Avvir’s influence may grow as construction firms seek comprehensive digital twins and automated workflows to meet tighter project deadlines and sustainability goals, reinforcing its role as a key enabler of construction’s digital future[1][2][3].
Avvir has raised $13.2M across 3 funding rounds. Most recently, it raised $10.0M Series A in March 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Mar 1, 2021 | $10.0M Series A | Bessemer Venture Partners, Qualcomm Ventures, Tekfen Ventures | |
| Jul 1, 2019 | $3.0M Seed | 43, Better Tomorrow Ventures, Calm/Storm Ventures, Chapter One Ventures, Crosslink Capital, Kindred Ventures, Kleiner Perkins, Nyca Partners, Urban Innovation Fund, Y Combinator, Jeff Morris, Louis Beryl | |
| Mar 1, 2019 | $200K Seed | Blackhorn Ventures, BP Ventures, MetaProp Ventures, Pareto Holdings, Stacked Capital, Tekfen Ventures, Aaron Block, Evan Moore |
