Construction firm JE Dunn co-led a $190m funding round yesterday for US-headquartered architectural services provider Prescient with investment firm Eldridge.
Prescient has built a digital platform that combines architectural design and modelling software with engineering, manufacturing and construction services. The integrated approach serves to streamline the process and make separate parts easier to integrate.
Eldridge led a $50m series E round for the company in 2018 at a $650m pre-money valuation, following $45m in funding from undisclosed investors the previous year. Prescient identified JE Dunn as an existing backer in the latest round.
JE Dunn chairman Tim Dunn, also a board member at Prescient, said: “We see great value in the advanced technology and innovative application of Prescient in the construction industry.
“We are equally excited to have clients and partners fully realise the potential of the Prescient system for their buildings in the future.”
Prescient CEO Magued Eldaief added: “The support of Eldridge and JE Dunn is indicative of the strength of our technology, the progress we have made in getting market acceptance for our product, our business strategy and the significant growth opportunity ahead of us.
“We look forward to working with both teams in this next phase of growth to provide even greater benefits to our clients, suppliers and employees.”
