Tag: Katerra
Despite the hype, construction tech will be hard to disrupt
David Ward Contributor David Ward is a 30-year tech industry veteran, entrepreneur and the CEO and founder of Safe Site Check In. From the outside looking in, the construction industry appears ripe for tech innovation. The industry represents 6.3% of the U.S. GDP. There are close to 1 million general…
Read MoreSoftBank-backed construction giant Katerra said to be shutting down after raising billions
After burning through more than $2 billion in funding, SoftBank-backed construction startup Katerra has told employees that it will be shutting down operations, according to a report in The Information. Last year, the company claimed it had more than 8,000 employees globally. Menlo Park-based Katerra had already been struggling to…
Read MoreAfter burning through $2 billion, Katerra gets a $200 million SoftBank lifeline to escape bankruptcy
SoftBank Group is reportedly investing $200 million to bail out Katerra, a startup that had hoped to remake the construction industry with a vertically integrated approach, according to a report in The Wall Street Journal. Katerra’s shareholders reportedly approved the new investment on Wednesday, with the new lifeline from SoftBank…
Read MoreHandle.com helps independent construction workers get paid on time
From long payment cycles to antiquated processes on how to bill workers, the hefty inefficiencies of the construction industry are long overdue for innovation. Enter startups such as the large venture-backed Katerra and recently public companies such as Procore. Still, independent contractors or workers from small family businesses often can’t…
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