Lowenstein Sandler represented PeakSpan Capital as lead investor in a $25 million Series B funding round in TraceAir, a Seattle, WA-based provider of site intelligence software for homebuilders and land developers.
Other participants included Flashpoint Venture Capital, among other existing investors.
TraceAir is a provider of construction site analysis and management solutions for land development and homebuilding. Its platform captures 3D project data and empowers construction teams by saving time and reducing the risk of errors and delays.
The company intends to use the funds for the development and market roll-out of new products to boost land development and homebuilding workflows with predictive analytics and to set the industry on a new level of efficiency and automation.
PeakSpan Capital is a growth equity firm based in New York City and San Mateo. Having partnered with over 40 high-growth software businesses and with $1.5B+ in AUM, PeakSpan's mission is to be the partner of choice for growth-stage entrepreneurial teams who are building amazing software targeted at business buyers of all sizes. PeakSpan combines deep domain expertise within a select number of themes with a proprietary technology platform providing visibility into company and market performance to help disruptive entrepreneurs drive resilient, risk-adjusted value creation.
In the last two years, Lowenstein Sandler has represented PeakSpan as lead investor in SOCRadar, a leading provider of enterprise-grade, end-to-end threat intelligence and brand protection; Nectar, a culture platform specializing in employee recognition and rewards; Abre, K-12's #1 modern data solution; Arist, a unique platform that helps employers deliver on-demand learning through popular messaging tools; and Konnecto, an Israeli startup and artificial consumer intelligence platform.
The Lowenstein deal team included Anthony O. Pergola, Doreen M. Edelman, Mark P. Kesslen, Christian C. Contardo, Sarah Gore, Brianne L. Polito, Adam Dickson, and Chynara Tolubaeva.
