From pen and paper designs to more “advanced” apps and databases, infrastructure projects have yet to adopt more modern methods and technologies, despite being extremely expensive and complex. But the bottom line is that many infrastructure companies just don’t have access to a single platform that can seamlessly maneuver information throughout the complex network of these colossal construction projects.
The Locusview platform allows users to manage and optimize the processes of infrastructure capital projects - from planning to revenue - with complete visibility, while upgrading operational security, smart resource management, and regulatory compliance. Last week, the Israeli digital construction management company announced the closing of a massive $64 million Series A funding round. The investment was led by Israel Growth Partners (IGP), with participation from Leumi Partners, Clal Insurance, Discount Capital, and existing investors.
A single platform
Locusview developed a platform that enables digital information flow, through which all aspects of a given project can be managed: Planning, Construction, and Close-Out. While talking to Geektime, Shahar Levi, CEO and co-founder, tells that the company’s product has solved 3 main issues for its customers: Improving data quality and credibility; Real-time visibility and time management of on-site activity; scheduling; and optimizing processes. The first market to enjoy the company’s technologies is the U.S. natural gas industry, which suffers from vulnerabilities due to old infrastructure that needs to be replaced.
According to Levi, neither of the company’s competitors can offer what Locusview can: “Existing solutions on the market are actually system applications that have already been implemented at its customer, for example: GIS, ERP or MWM systems. The big problem with these applications is that they collect data only relevant to a specific system, and this becomes a burden for decision makers and mostly for personnel in the field, which are required to work with a number of different apps; interfering with workflow and slowing down construction.”
Locusview was founded in 2015 by CEO Shahar Levi, and has raised $80 million to date. The company has reported annual revenue in the tens of millions of dollars and is headquartered in Tel Aviv and Chicago. The company has 120 employees across 5 global offices, with plans to double its staff by year-end.
“Nearly $500 billion is invested annually into energy and telecom infrastructures, spotlighting the massive market potential for Locusview. In less than three years, Locusview has been able to become a trusted partner for +20 of the largest utility companies in the US and to support them with the digitization of the most critical aspects of their business,” said Assaf Harel, General Partner at IGP.