Investors Boost Snaptrude a cloud-based architecture, engineering, and construction (AEC) design startup, raised $14 million in a Series A round 10 months after announcing its seed funding.
The six-year-old firm raised $21.8 million in Series A led by Foundamental and Accel, including the $6.6 million seed round in January.
Snaptrude is a modern, cloud-based software suite for architects, designers, developers, and contractors to collaborate and build buildings in real time. The business stated this differs from older technologies like Autodesk’s Revit and AutoCAD, which lack controls and features for collaboration and interoperability.
Investors Boost Snaptrude a platform that runs design and construction workflows like Figma does for designers. Snaptrude is a rare New Age firm giving a full-fledged alternative to established methods, even though designers, architects, and other stakeholders in building information modeling (BIM) know and record the problem.
Snaptrude can handle design drafts from Revit, Rhino, SketchUp, or PDF files. The business also claims designers may transfer Snaptrude designs to Revit without losing data.
Snaptrude, founded in 2017, launched its platform out of beta this year after thousands of global users tested and provided feedback. The startup wants to grow.
“We now have dozens of firms worldwide working with us closely to drive adoption due to the product development velocity. The global awareness of what Snaptrude is set to do has been affected by that, said creator and CEO Altaf Ganihar in an interview.
It claims its user base has grown from over 6,000 to over 20,000 since January. Users come from over 30 nations, including the U.S., U.K., and India.
Snaptrude’s platform is freemium like others in its category. Many of its early enterprise customers are increasing their accounts and upgrading from free to premium. The startup now has a few dozen enterprise customers worldwide, including Hines, WeWork, and Square Yards.
Snaptrude added Sketch to BIM to attract more customers and boost platform retention. As its name implies, the upgrade lets users create 3D BIM models from the earliest sketch phase of a construction project, giving them more design control and an improved data stack. Users can ditch their design tools and consider Snaptrude the best option.
“We have actually proven with dozens and dozens of global firms that were able to replace it and work in their ecosystem — not just for test use cases but for their actual production use cases where they designed real buildings using the platform,” Ganihar stated
To boost efficiency, Snaptrude is incorporating AI. Since designing and architecture entail copyrights, the startup is leveraging LLaMAs and GPTs on top of organizations’ heritage knowledge to integrate AI and protect data.
Ganihar said corporations leverage legacy expertise in their ventures. The startup will use AI to retrieve such knowledge via text-based prompts.
“That data is enough for firms to decide. All of things are standard, so you can reuse them in other designs, he told TechCrunch.
The AI integration would allow enterprises to ask precise inquiries, such as cost changes in the last few design iterations, or wider prompts, like drafting a residential structure in a metropolis, and get immediate replies from the platform.
Snaptrude has attracted investors twice in less than a year, when funding is difficult even for late-stage ventures. Market response to the recent updates is unknown. Ganihar said the business attracted more financing despite raising a fair seed amount during the recession because of its reliable product.
We know where to go from here and our foundations work, making it easy. We only need to dig deeper. “We are not trailblazing,” he said.
It’s a capital-intensive industry and requires time to establish IP. Even back then, Autodesk required 8-10 years to release a dominant product. That phase allows us to accelerate many of these efforts.”
Snaptrude hopes to increase its 53-person product and technical teams with the new cash. It also wants to globalize its go-to-market strategy.
Snapprude is leading the AEC industry’s next-generation design stack. We’re excited to expand our cooperation with Altaf and Snaptrude and watch how the platform expands to address this pressing issue, said Foundamental general partner Shubhankar Bhattacharya.
Snaptrude, based in Bengaluru, concentrates on the U.S., followed by the U.K. and Europe. It will concentrate on these markets to grow.
Snapprude’s innovative conceptual design technique and strong market momentum make it a leader in AEC transformation. We fully back their expansion and innovation, said Accel partner Prashanth Prakash.