Planera, a pioneering construction-tech startup known for its innovative scheduling and planning software aimed at commercial construction projects, has successfully garnered $13.5 million in a fresh round of funding.
General contractors have historically relied on legacy software like Oracle Primavera P6 for managing complex commercial construction projects. These platforms, although sophisticated, often lack user-friendliness and require in-depth technical know-how. For smaller-scale projects, solutions such as Microsoft Project are sometimes utilized, despite not being tailor-made for the construction sector’s specific needs.
Based in San Jose, Planera stands out by blending the best features of both worlds. It presents a unique software platform that simplifies the scheduling and planning of both long-term and short-term projects through a digital whiteboard-like interface, facilitating real-time collaboration. Effective scheduling is vital in this field due to the high risk of incurring liquidated damages and the need to comply with strict contractual obligations, including meeting interim milestones.
The platform enables contractors to work cohesively with other project stakeholders via a singular interface, streamlining project execution.
“The essence of Planera goes beyond mere planning; it acts as a powerful platform for seamless communication,” highlighted Nitin Bhandari, co-founder and CEO of Planera, in an exclusive interview.
Planera empowers general contractors to draft, analyze, optimize, and schedule their construction projects in alignment with contract specifications and requirements. Furthermore, it integrates smoothly with widely utilized platforms such as AutoDesk and Procore, allowing for the seamless synchronization of schedules.
Bhandari revealed to TechCrunch his ambitions to extend the software’s services to subcontractors, recognizing the frequent collaboration between general contractors and subcontractors in areas like electrical and mechanical works.
“As the construction industry embraces modernization across various business operations, the spotlight is now on updating critical functions like scheduling and planning,” Bhandari remarked.
Despite the crowded landscape of construction-related startups, Planera’s founding team brings a proven track record of success. Before founding Planera in November 2021, Bhandari had co-founded the mobile browser company Skyfire and the screen time app ZenScreen, which were both acquired by Life360.
The inception of Planera was inspired by Bhandari’s meetings with Saif Lodhi, a veteran in the general contracting field with approximately 30 years of experience at California Engineering Contractors. Identifying a glaring inefficiency in the industry’s scheduling processes, Bhandari, alongside Erik Swenson (former CTO at Skyfire), embarked on establishing Planera to address this issue.
Currently, Planera serves an expanding clientele, supporting over 500 live projects with its software.
The Series A funding round for Planera, entirely equity-based, was led by Sierra Ventures, with contributions from Sorenson Capital, Brick and Mortar Ventures, Prudence VC, and Firebolt Ventures.
Focused on growth, Bhandari plans to allocate 60% of the fresh capital towards bolstering sales and marketing efforts to accelerate market penetration, while the remaining 40% will fuel R&D and product development initiatives, including the integration of construction-specific AI to optimize scheduling and planning practices.
“We are set to introduce our own data models and assistant-like functionalities, expected to roll out by the end of this year and into the next,” Bhandari shared.
While the exact revenue figures remain undisclosed, Bhandari is optimistic about achieving a 5–8X growth compared to the last quarter of the previous year. Planera, embracing a remote working culture, currently boasts a 30-person team across various markets, including Bengaluru, India, with plans to expand its workforce significantly in the forthcoming months.