Reflecting a growing interest from the investment community in emerging construction technologies, crane-mounted sensor and jobsite intelligence startup Versatile announced on Sept. 14 that it has secured $80 million in Series B funding. The funding round, led by Insight Partners with support from Tiger Global, comes on the heels of a $20 million Series A funding round secured in December 2020.
Versatile’s system is built around CraneView, a camera and sensor package that hangs off of a crane hook, just above the load. This wireless device serves as the data-gathering point for activity on the jobsite, tracking work progress and tempo based on crane lifts and cycles. Versatile uses this data to generate regular reports and updates for project team members, offering both fine-grained and high-level views into what is actually getting done on the jobsite.