SWAPP raises $11.5 million Series A to help architects with AI platform
SWAPP raises $11.5 million Series A to help architects with AI platform
The Israeli startup’s solution streamlines the creation and management of architectural construction documents
SWAPP, which has developed automation software for architectural construction documents, announced on Wednesday the closing of an $11.5 million Series A funding round. With this funding, the company has raised a total of $18.5 million since it was founded.
The Israeli startup’s AI driven platform streamlines the creation and management of architectural construction documents, enabling architects to save time and resources while maintaining high-quality output.
Founded by serial entrepreneurs, Eitan Tsarfati, Noam Gat, and Adi Shavit, the company is headquartered in Tel Aviv with offices in Houston.
The Series A round was led by Eurazeo, a global investment firm, and included participation from existing investor Entrée Capital. New investors joining the round included Activum SG Ventures, the venture investing arm of European real estate private equity fund, Activum SG, and XTX Ventures, the investment arm of leading algorithmic trading company XTX Markets.
"The product we developed at SWAPP tackles the unfairness I faced as an architect on a daily basis - the excessive amount of time spent on creating intricate plans, rather than concentrating on the design aspect, and the lack of compensation for the many hours I spent on each project," said Eitan Tsarfati, Co-founder and CEO of SWAPP. “Our main goal is to help our customers become more productive from the moment they start using our platform."
