GreenLite, a New York-based construction technology firm, has raised $49.5 million in a Series B round.
The investment was led by Insight Partners, with participation from Energize Capital and existing backers Craft Ventures, LiveOak Ventures, and Chicago Ventures.
The company plans to direct the capital toward expanding its go-to-market operations and entering new business segments. Targeted areas include lodging, industrial and logistics, clean energy infrastructure, and residential development. GreenLite also intends to strengthen its AI-driven platform.
Founded in 2022 by James Gallagher and Ben Allen, GreenLite develops LiteTable, a digital plan review platform. The tool uses artificial intelligence to process construction plan sets, flag compliance issues, identify code requirements, and provide guidance drawn from a library of jurisdiction-specific comments.
GreenLite reports adoption by nearly 100 Fortune 500 clients, spanning retailers, real estate investment trusts, quick-service restaurants, industrial developers, and homebuilders. The company aims to broaden its presence this year into lodging, logistics, multifamily housing, and other verticals.
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By Proptechbuzz
By Ravi Kumar