French construction tech startup Teamoty raises €3 million in Serie A led by LBO France to expand in France and Europe
Paris, 27 September 2022 – Teamoty, a pioneer in the digitalisation of the supply chain for construction projects, has raised €3 million to accelerate the marketing of its software suite on the French and European markets. LBO France, a multi-specialist investment platform, is leading the round through NewStone, its impact fund dedicated to Proptech, together with Rise PropTech Fund and BTP Capital Investissement.
A new player in the sector for greater efficiency and positive impact on construction sites
Founded in 2018, Teamoty has developed a software suite capable of digitising site logistics and thus enabling construction professionals to better control costs and deadline management, to improve project productivity, and to reduce the environmental footprint of sites that are very high CO2 and waste emitters. Teamoty’s solutions meet an environmental challenge and have a particularly positive impact by limiting the number of deliveries, drastically reducing waste and promoting better recycling by optimising sorting management.
In the construction sector, nearly 80% of projects are delivered late or end up over budget due to management tools that are not adapted to the complexity of the sites. To overcome this problem, Teamoty was one of the first in France to use Lean Construction techniques, which optimise the management of construction sites using collaborative management tools. This approach has already convinced more than 100 construction companies, including major players such as Bouygues and Spie Batignolles in France and BPC Group in Belgium. Already translated into 5 languages and tested in more than 11 countries by more than 5,000 users, the software suite is now
ready for international deployment.
A digital offer to support the global transformation of the construction sector and to improve the attractiveness of the profession to young people
A software suite 100% dedicated to the planning and logistics of construction sites, Teamoty is not a simple digitalization solution, it also helps companies in the sector to transform themselves in a more global and sustainable way. Its solutions, which include two modules published in Saas mode, cover both upstream planning and real-time monitoring of the site, as well as logistics via supply management. They enable each of the trades to be coordinated in real time, to change the way they work together and ultimately to improve the performance of the sites. The aim is to create value and save resources: build faster, better and at lower cost. With this new tool, a real transformation of the sector is underway.
Furthermore, solutions such as those offered by Teamoty actively contribute to improving the image and attractiveness of a sector that is still poorly digitalised and still suffers from a lack of manpower and recruitment difficulties, particularly among young people.
Deployment and expansion strategy of the offer in Europe
With this first round of financing, Teamoty’s strategy is to continue to develop and support the transformation of the sector. The support of LBO France, Rise PropTech Fund and BTP Capital Investissement will enable the company to accelerate its commercial development in France and Europe and to continue to enhance its software suite. This strategy includes the rapid and significant recruitment of new skills.
The market on which Teamoty is positioned is developing rapidly due to the awareness of the players in the ecosystem and the regulatory requirements. The objective is to anchor its offer to various clients in new countries and to allow the use of the software suite on all types of projects, in new construction as well as in rehabilitation, for housing as well as for offices, and in the context of public works or civil engineering.
Fabien Font, Co-founder and CEO of Teamoty, says: “Over the past 3 years, we have proven that the way projects are planned and organised should and can change. With the help of our shareholders, we will be able to deploy our solutions more widely in Europe and accelerate their commercialisation. Our strategy is completely in line with the environmental challenges that are driving the construction industry to optimise resources on site while improving productivity and efficiency in the construction process.”
Stéphanie Casciola, Managing Director of LBO France and in charge of the real estate and proptech business, said: “With Teamoty, we are making our third investment in NewStone, our impact fund dedicated to Proptech. After ZePlug in the energy transition and Hosman in digital transactions, Teamoty addresses a key issue in the construction industry by enabling better resource tracking and supply chain optimisation. LBO France will mobilise all of its experience in impact and its broad knowledge of the real estate sector to accelerate the development of Teamoty, a promising investment that allows us to project ourselves into a sustainable future..”
Laura Panquet, Protech’s Investment Director, said: “We are particularly pleased to be leading this financing round and to support Teamoty in a new phase of growth. Through the development of its solution, Teamoty has the potential to bring about a real change in the way construction projects and site logistics are approached.“