Remato Raises $1.7 Million to Accelerate Industry Productivity Increase Estimated in Trillions

This is the first round of funding for Remato to simplify frontline construction management.

FREMONT, CA: Remato, a technology firm aimed at streamlining frontline construction management, announces a $1.7 million seed round headed by Passion Capital of London.

Additional investors in the round include Pipedrive's founders and early team members and venture capital firms Superangel, Lemonade Stand, Spring Capital, and Kaamos Group, a regional property developer and general contractor with a long history. Rematos now has total funding of $2.5 million.

Eileen Burbidge, Partner at Passion Capital, says, “We’re very excited to be working with Remato. Their traction to date clearly validates the need for digital user experiences and platforms for the massive construction sector, which comprises 10 percent of the global economy. We look forward to supporting the teams’ ambitions in the UK, across the rest of Europe, and North America.”

What publicly traded Procore is for large general contractors. Remato is for small and medium-sized businesses (SMBs) that perform 95 percent of work on-site and account for 80 percent of the worldwide construction market. The startup, founded in 2018, is easing the construction industry's shift from analog to digital. Field contractors may plan and manage budgets, personnel, materials, and equipment with Remato's software, which serves as a single source of truth. The program improves situational awareness by facilitating real-time cooperation between offices, field personnel, and client reps.

In Europe and the Americas, there are millions of constructions SMBs, all of which confront similar issues in terms of performance, administration, and timelines. The majority of them remain mainly undigitized or use fragmented software for specialized functions. This is a massive opportunity for the industry to boost productivity, estimated at $1.6 trillion, providing room for thousands of construction tech unicorns to drive the shift.

Remato is growing at a steady rate of 10-15 percent month over month, thanks to a team with worldwide technology experience from companies like Wise, Booking.com, and Glia. With a mobile-first user experience that prioritizes ease of use, the Remato platform attracts the $13 trillion global construction sector. As its 1700 daily active users attest, Remato's holistic approach sets it apart from competitors.

Co-founder and CEO Madis Lehtmets comments, “The construction industry needs simplicity and modern design to achieve the mass adoption of software. We believe that user experience should be much more of a priority, as frontline adoption depends on it. It helps the traditionally low-tech industry to go fully digital.”

Remato serves hundreds of businesses across the Nordics and Baltics. This new financing round has accelerated the company's ambitions to penetrate the 2.7 million-strong UK construction sector. Remato is on track to achieve 2-3 times growth by the end of the year with the assistance of a UK-based industry growth manager, Simon Gibbons. With the platform's development, the founding team anticipates a marketplace for collaboration, bidding, and leasing labor, materials, and equipment for its customers.