LivSYT, a leading provider of SaaS-based construction management software, announced successfully raising $2.5 million in its seed round of funding, making a total fund rise of $4.5 million till date
Published Date – 05:00 PM, Thu – 9 November 23
Mr. Karthik Thumu, CEO, LivSYT.
Hyderabad: LivSYT, a leading provider of SaaS-based construction management software, announced successfully raising $2.5 million in its seed round of funding, making a total fund rise of $4.5 million till date. This seed round of investment ($ 2.5 million) comes from SV Quad and Inventus Capital based out of USA, setting the stage for LivSYT’s expansion into the US market and its exploration of new AI/ML use-cases.
With this infusion of capital, LivSYT is well-positioned to capitalize on the tremendous growth potential in the global construction industry. LivSYT’s software solutions have already contributed to an impressive annual recurring revenue of $1 million, with infrastructure projects worth a remarkable $6 billion already utilizing their software.
Commenting on the successful fundraise, CEO, Karthik Thumu of LivSYT, said, “we are excited to embark on this new journey, leveraging the expertise and support of our investors to further our mission of transforming construction management.”
The funds will primarily be used to support the expansion of LivSYT’s presence in the US market, where it aims to address the growing demand for technology-driven solutions in construction management. Additionally, LivSYT will invest in the development of its current product infrastructure, making it even more resilient and exploring new use-cases within the construction management domain.
Brajesh Bhanj Deo, CFO, further said, LivSYT want to achieve $5 million in annual recurring revenue within the next 24 months
