BOSTON--(BUSINESS WIRE)--Suffolk Technologies, Suffolk’s built environment venture capital firm, has been named the number one most active construction tech VC investor, outpacing 15 of its competitors in the latest market research from global tech-focused investment bank AGC Partners. The insights provide a glimpse into how the construction industry is welcoming new solutions and continues to evolve through the implementation of technologies post pandemic. Topping the AGC list of active investors between 2018 and 2022, Suffolk is credited with 21 investments, notably its $14M 2019 investment in OpenSpace.
Founded in 2019 – one year into the five-year data set reviewed by AGC research – Suffolk Technologies has made a demonstrable and measurable impact in construction technology. With a broad network of over 2,000 startups, investors, trade partners and strategic partners, the company is accelerating new solutions to ecosystem-wide adoption to drive the pace of change in the industry.
“This ranking further validates Suffolk’s commitment to supporting built world innovation and our leadership in the venture capital landscape,” said John Fish, Chairman and CEO of Suffolk. “Suffolk Technologies remains firmly rooted in Suffolk’s mission to connect high potential startups with industry resources to accelerate modernization and innovation in construction.”
The platform invests in early and growth-stage startups transforming the built world across real estate and development, architecture, engineering and construction, property management, and smart cities. Since 2019, it has backed companies across automation and robotics, supply chain marketplace, sustainability, financial technology, and smart building themes.
Key to Suffolk Technologies’ industry influence is its BOOST program, an intense 6-week program to help promising startups develop digital solutions to address labor, supply chain, design, sustainability and automation goals. It is an integral part of advancing innovation within the company, its network and across the industry more broadly. Since the inaugural program kicked off three years ago, past cohorts of Suffolk Technologies’ BOOST program – which include startups such as Moxion, WINT, CANVAS and Flexbase – have collectively raised more than $325 million of venture funding after participating in the program, fueling innovation across the industry. The 2021 cohort alone has raised more than $100 million in capital to accelerate their growth plans.
To learn more about Suffolk Technologies, please visit www.suffolk-tech.com.
AGC Partners’ 2023 Construction Technology Market Update covers key trends and challenges in the market and includes a listing of recent M&A, private placement and IPO activity. To view the full report and learn more, please visit the AGC Partners website, here.
About Suffolk Technologies
Suffolk Technologies is the venture capital investment arm of innovative construction enterprise Suffolk. Suffolk Technologies invests in early and growth-stage startups transforming the built world across real estate and development, architecture, engineering and construction, property management, and smart cities. Leveraging Suffolk’s expertise and partner networks, Suffolk Technologies partners with visionary founders to accelerate industry-wide adoption of breakthrough innovations ranging from pre-product to scaled go-to-market. Suffolk Technologies is ranked by AGC as the “#1 Most Active Construction Tech Investor” from 2018-2022. For more information about Suffolk Technologies strategy and investments, visit Suffolk-Tech.com
Suffolk is a national company with $5.0 billion in annual revenue, 2,600 employees and main offices in Boston (headquarters), New York, Miami, West Palm Beach, Tampa, Estero, Dallas, Los Angeles, San Francisco, and San Diego. Suffolk serves clients in every major industry sector, including healthcare, science and technology, education, gaming, transportation/aviation, and commercial. Suffolk is privately held and is led by founder, chairman and CEO John Fish. Suffolk is ranked #23 on the Engineering News Record list of “Top 400 Contractors.” For more information, visit www.suffolk.com and follow Suffolk on Facebook, Twitter, LinkedIn, YouTube, and Instagram.