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New-York based construction project marketplace Architizer raises $2M in seed funding
Architizer, an architectural construction project online marketplace, has secured $2 million in seed funding. According to co-founder Marc Kushner, the newly-raised capital allows the New York-based firm to pursue an international construction supplies market worth $200 billion, wrote VentureBeat.
The seed financing was led by Gaspar Global Ventures, Alessandro Piol, and Joanne Wilson. Private investors who did not want to be revealed also contributed to the round, the report stated.
Architizer was launched in 2009 after it raised $1 million from Kushner's family members and friends. Recently, New York City awarded $250,000 to the firm to help it transfer to lower Manhattan, the report added.
The architectural marketplace currently employs 15 people in its team. The company allows different companies to upload photos, videos, and other information about their construction projects. Architizer makes money by charging construction suppliers a monthly fee within the range of $95 to $600 to connect them to builders and products, the report explained.
Kusher said: "We've become huge in the institutional and construction space. Architecture is the last frontier. It acts as a portal for access to the consumer architecture marketplace."