Article Originally Posted On AZBigMedia On November 1, 2021
Mosaic Building Group, a construction technology platform for the residential development industry, today announced a $44 million Series B funding round from Peak State Ventures, Andreessen Horowitz, Starwood Capital, Founders Fund, Innovation Endeavors, and Building Ventures, among others, bringing Mosaic’s total funding to date to $68.75 million.
Mosaic’s platform and team serve as a tech-enabled general contractor for production-scale residential development projects. Much like cloud hosting providers such as AWS manage datacenter infrastructure to allow tech companies to focus on their core business, Mosaic manages construction infrastructure, allowing real estate developers to focus on the value-driving components of their core business, such as land acquisition, sales and marketing, and architecture. Mosaic’s platform aims to empower its team of in-house construction professionals to tackle the disparate sources of data and workflows across every step of construction, to deliver best-in-class service to its customers and the best experience to its trade partners. Further efforts include digitizing key aspects of the construction process to provide greater visibility into the job site, enable more individuals to perform skilled tasks, and serve as a platform for new construction methodologies.
“We’ve spent significant effort rolling up our sleeves alongside our partners — homebuilders, developers, trades, and everyone in between — in order to create solutions that will truly move the needle,” said Salman Ahmad, co-founder and CEO of Mosaic. “The industry’s most precious resource is the trade workforce. Too often construction trades are on the receiving end of all the ‘messiness’ in construction. Our technology and data platforms allow us to build tools to help them be more successful. Integrating technology and operations provides us significant advantages: faster iteration and more efficient, tailored solutions. We’ve been humbled at the positive reception from our trade partners so far.”
“We believe they have the potential to have a transformational impact on residential development and the built environment,” said Jason Freedman, Venture Partner at Peak State Ventures. “Mosaic has demonstrated their ability to deliver a powerful product, a dynamic technology platform, and desirable, quality homes. With housing prices and availability crippling families, communities and cities, Mosaic is providing a tangible tool to streamline cumbersome, expensive processes, and make a better product: quality homes that people love.”