OpenSpace, a startup that develops technology for the construction industry, raised $102 million in a new funding round that the company said gives it a valuation of $902 million. Penny Pritzker’s PSP Growth led the round, San Francisco-based OpenSpace said. Other participating investors include BlackRock Inc., Alkeon Capital Management, Menlo Ventures and a unit of…
How General Contractors and Owners Enable Virtual Collaboration
Before recent events, the construction industry was characterized as being slow to adopt new technologies. Increasingly, general contractors and owners are using cloud-based platforms and virtual collaboration tools, with no intention of going back to the old ways of business.
The rise of construction technology, and the ways in which GCs and owners have adapted to new working conditions in the COVID era, was the focus of a recent webinar hosted by AGC of California, the state’s largest construction trade association. Below, we recap some of the top insights from the webinar.