Austin, USA-based, the AI-powered autonomous construction progress tracking and quality control platform AI Clearing raised USD 14 million in Series A financing. The company announced the investment on October 2, 2023. Prudence led the financing for the company. In addition, FJ Labs, as well as existing investors such as Tera Ventures, Inovo, and Innovation Nest, provided the investment.
As a part of the deal, Jordan Viniar, Partner at Prudence, will join AI Clearing’s Board of Directors.
Purpose of financing for AI Clearing
With the latest proceeds from Series A, AI Clearing seeks to ramp up its hiring operations. It has plans to fund expansion of its sales and client success teams across the regions such as the United States, Western Europe, and the Gulf region.
What the company’s officials have to comment
Michael Mazur, CEO and Co-Founder of AI Clearing, said, “This funding round positions us to capitalize on the digital transformation of construction project management. In the past 12 months, we have achieved 15x revenue growth. This new financing enables us to expand our sales and client success teams across the United States, Western Europe, and the Gulf region. We are enthusiastic about our collaboration with Prudence, an investor who has demonstrated a deep understanding of both our technology and industry and who shares our vision of becoming the category leader in autonomous project control.”
In addition, Adam Wisniewski, CTO and Co-founder of AI Clearing, said, “Our AI is proprietary and unique. This has allowed us to build the best technology in the industry, provide real-time insights, and drive strong operational efficiencies for our customers. From the napkin idea phase, we knew that industry-specific, daily data combined with the ability to ingest and compare against project designs and schedules would be fundamental for us to build our AI. We spent three years building and optimizing our technology to ensure it was right. Our large and unique training data and proprietary AI engine enable us to achieve unparalleled accuracy and processing time – both critical to our customers.”
What the lead investor has to remark
Jordan Viniar, Partner at Prudence, joining the Board of Directors, said, “Owners and contractors on large infrastructure projects face large potential liabilities due to project delays or poor quality leading to reworks. These issues can lead to tens of millions of dollars in cost overruns and disputes. AI Clearing has developed the best-in-class and most technical solution to a problem that is unsolvable with people and processes. The construction industry is actively adopting solutions to these significant and unmet needs. Hence, AI Clearing has earned the trust of many of the industry’s largest and most sophisticated companies.”
About the company
Adam Wisniewski and Michael Mazur launched the company in 2020. AI Clearing operates as an innovative AI company. It seeks to transform the construction industry through the power of artificial intelligence.
For more extensive analysis and Market Intelligence reports, feel free to approach us.
We try our best to fact-check and bring well-researched as well as non-plagiarized content to you. Please let us know
if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover
–what information you are looking for in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
