LivSYT has just secured $2.5 million in seed funding from Silicon Valley Quad and Inventus Capital in a heartwarming success story for the construction management world. This financial milestone brings LivSYT’s total funding to an impressive $4.5 million, setting the stage for a bright future. With this infusion of capital, LivSYT is all set to embark on its journey to expand across the United States and delve into the exciting possibilities of artificial intelligence and machine learning within the construction industry.
Founded in 2021 by the enterprising Karthik Thumu, LivSYT has changed the game with its fresh approach to construction project management. The company’s software is like a trusty friend, designed to make life easier for modular manufacturers, contractors, and third-party inspectors. It’s all about streamlining project completion, offering real-time insights and control, and ensuring resources are used efficiently to boost job-site productivity.
With an annual recurring revenue (ARR) of $1 million, LivSYT is setting its sights high. The goal? To achieve an ARR of $5 million by November 2025. It’s an ambitious target, but LivSYT is committed to pushing the boundaries and transforming the construction management landscape.
LivSYT’s family of clients includes well-respected consulting and engineering firms like Systra, DRA, and Elemental Realty. They’ve all embraced LivSYT’s on-site construction management software, and the results speak for themselves: increased productivity and greater profitability on their construction projects.
In a competitive market, LivSYT faces off against formidable rivals like Onsite and Powerplay, which have secured substantial funding in recent rounds. Onsite, for example, raised $1.5 million, and Powerplay boasts an impressive $7.14 million in its latest funding round. However, LivSYT’s unique combination of user-friendliness, real-time control, and ambitious growth plans makes it stand out as a true industry game-changer. Watch out for LivSYT as it continues to make waves in construction management.
