Building Radar secures $7.2M in funding to revolutionize construction industry sales with AI

The construction industry is one of the largest in the world but still lacks modern IT infrastructure. Even in 2024, it continues to rely on outdated, person-to-person sales networks. This challenge prompted Munich-based tech startup Building Radar to step in to help sales teams in the construction sector identify promising leads and implement targeted outreach strategies, all powered by AI and actionable insights

Today, Building Radar announced it closed $7.2 million in a funding round led by Socii Capital to fuel the company’s product development and market expansion.

Founded in 2015 by Paul Indinger and Leopold Neuerburg, Building Radar offers an AI-driven sales enablement platform specifically for the construction industry. The platform helps sales teams secure high-margin projects by providing data insights that uncover new revenue streams. Its services include revenue engineering, sales execution solutions, and scalable sales pipeline management.

Building Radar’s growth comes at a pivotal time, especially in the UK, where a potential housing boom could reshape the market. The newly elected Labour government is considering reclassifying parts of the protected ‘green belt’ into a ‘grey belt’ to develop 1.5 million homes over the next five years.

Co-founder Paul Indinger highlighted the industry’s shift, saying, “The construction sector is facing a transformation with trends like sustainability and digital planning. This changes how products and services are assigned to projects. Our collaboration with Socii brings us closer to matching every global construction project with the best solutions.”

So far, Building Radar’s platform has supported over 150 companies, including well-known names like Schindler and Holcim, and contractors such as Eiffage. The company has driven over $2.6 billion in sales pipelines and improved sales conversion rates for its clients.

Leopold Neuerburg, co-founder, emphasized their commitment to expanding AI capabilities, saying, “We aim to become the go-to platform for sales teams in construction, helping them grow revenue and win rates. Our goal is to generate €100 billion in revenue for our customers by 2030.”

Building Radar’s user-friendly platform and comprehensive sales insights have spurred organic growth, especially across Europe. With Socii Capital’s backing, the startup is eyeing further expansion into the UK, US, Canada, and other key markets.

Yuan Chen, co-founding partner at Socii Capital, praised the company’s leadership and growth potential, stating, “We are excited to partner with Building Radar. Their platform is poised to reshape the construction sector, and we’re eager to contribute both our capital and support.”

With over 5,000 new sales opportunities detected daily for its clients and nearly 700 customized sales processes in place, Building Radar is making a major impact on the industry.

Building Radar Founders