Autodesk Part of Newmetrix's $7M Series A Funding Round

Construction Dive, 7/19/2017

Construction Dive

Dive Brief:

Cambridge, MA–based construction software startup Newmetrix raised $7 million in Series A funding from investors including Autodesk, Borealis Ventures and existing partners, according to Engineering News-Record.

The company uses artificial intelligence and machine learning to improve safety reporting on the job site by scanning images and videos of crews at work. 

Autodesk’s investment also gives Newmetrix access to its construction image files to help the startup hone its image-recognition software.

Dive Insight:

Newmetrix and Autodesk have met before. The startup’s services are already integrated with Autodesk’s BIM 360 Field, a cloud-based field reporting tool, and its founder and CEO, Josh Kanner, was previously the head of cloud and field reporting software provider Vela Systems. Autodesk bought Vela in 2012 and used that product as the basis for Field.

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Topics: News Coverage

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