Planera, a leading innovator in construction CPM scheduling and planning, has announced the successful completion of a $13.5 million Series A funding round. The round was led by Sierra Ventures, with significant contributions from Sorenson Capital, Brick and Mortar Ventures, Prudence VC, and Firebolt Ventures. This investment will accelerate Planera’s development of its advanced collaborative and visual planning tools, addressing critical needs in the construction sector.
The construction industry is transitioning from outdated legacy systems to more modern, cloud-based solutions. Planera is uniquely positioned to fill the gap left by traditional platforms, offering innovative tools that support collaborative work and visual planning. This shift reflects a broader industry move towards more flexible and intelligent applications.
Nitin Bhandari, CEO and co-founder of Planera, highlighted the significance of the funding: “This achievement brings us closer to our goal of providing teams with state-of-the-art technology for effective planning, scheduling, and collaboration. The funding will enable us to enhance features such as quality checks, performance analytics, and AI tools tailored for construction, addressing complex project challenges more effectively.”
Bhandari, a serial entrepreneur with two successful exits, is joined by CTO Erik Swenson, his co-founder from a previous venture, and Saif Lodhi, who brings over 30 years of construction industry experience. Their combined expertise is expected to propel Planera to new heights in the construction technology sector.
Shashank Saxena, managing partner at Sierra Ventures, praised Planera’s approach: “Planera’s innovative use of SaaS technology in construction illustrates the transformative potential of intelligent applications. The company is well-positioned to lead the industry’s shift towards collaborative, cloud-based, and visually-driven solutions.”
Troy Thompson, COO at Big-D Construction, a top GC, commented on the platform’s impact: “Planera’s unique solution has enabled our teams to effectively develop, maintain, and optimize project schedules, leading to better project outcomes.”
Editorial Insight
The successful Series A funding round for Planera highlights the company’s potential to redefine construction project management. As the industry moves away from outdated legacy systems, Planera is well-positioned to drive this transformation with its focus on collaborative, cloud-based, and visually-oriented tools.
Planera’s approach not only addresses current industry challenges but also sets new benchmarks for efficiency and collaboration in construction. With a strong leadership team and substantial investor backing, Planera is poised to significantly impact project management practices, enhancing both project outcomes and overall industry standards.
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