Private
8 months ago
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VERSATILE

AI Business
Los Altos, California, USA
funded over $100 million

Category

AI Business

Versatile, founded in 2016, specializes in enhancing construction site efficiency through its AI-powered platform, CraneView®. This innovative solution attaches to cranes, collecting and analyzing data on load weights, motion, and operational times. By providing real-time insights, it enables construction managers to optimize workflows, improve safety, and reduce costs.

The company has attracted significant investment from a diverse group of investors. Notable backers include Insight Partners, Tiger Global, Robert Bosch Venture Capital GmbH, Entrée Capital, Root Ventures, and Conductive Ventures. In September 2021, Versatile raised $80 million in a Series B funding round led by Insight Partners and Tiger Global.

What sets Versatile apart is its seamless integration of AI and Internet of Things (IoT) technologies to transform traditional construction processes. By converting cranes into smart devices that monitor and analyze site activities, Versatile addresses challenges such as project delays, safety hazards, and inefficiencies, providing actionable data that enhances decision-making and project outcomes.

In the artificial intelligence landscape, Versatile operates within the category of AI-driven construction technology. Their platform applies machine learning algorithms to data collected from construction sites, facilitating predictive analytics and process optimization in the construction industry.

For more information, please visit versatile.ai.

 

 

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