LivSYT, a construction management software provider, has raised $2.5 million in a seed round from Silicon Valley Quad and Inventus Capital.
The proceeds, which pushes the overall sum raised to $4.5 million, will help LivSYT expand into the US market and explore new artificial intelligence and machine learning use cases.
Founded by Karthik Thumu in 2021, LivSYT is a self-service, self-adopting software for modular manufacturers, contractors, and third-party inspectors to expedite project completion. It provides granular real-time operations visibility and controls, allowing for coordinated resource mobilisation to increase job-site productivity.
The company, currently claims to be at the scale of annual recurring revenue (ARR) of $1 million, aims to achieve $5 million in ARR by November 2025.
LivSYT’s portfolio of clients include consulting and engineering firms such as Systra, DRA and Elemental Realty. It services them with its on-site construction management software that helps boost productivity and profitability at projects.
It competes with Onsite and Powerplay which raised $1.5 million and $7.14 million in their latest round respectively.