Co-founded by Chloe Smith and Hogan Lee (pictured), Mercator AI is a real-time construction intelligence platform that enables business developers across construction, real estate, and manufacturing to find and qualify new opportunities faster.
By mining and analyzing millions of data points across commercial and industrial projects, Mercator AI is able to identify signals of early construction activity, reveal who’s involved, and tie this active project information back to rich company profiles.
“We are incredibly grateful for the support of our investors and to have had the opportunity to raise earlier than we planned. To be joined by such talented and influential industry leaders is a testament to the strength of our mission and the hard work of our team over the past 8 months,” said Chloe Smith, CEO and Co-founder of Mercator AI.
The newly-completed seed round also saw support from a consortium of other high-profile investors, including Standup Ventures and Zacua Ventures, with participation from The51, and Dustin DeVan (former CEO of Building Connected), alongside other notable angel investors.
With the newly raised funds, Mercator AI is poised to accelerate its expansion into US and Canadian markets in 2023. The funding will also allow Mercator AI to grow its team, thus accelerating the development of its platform to refine its current early project detection offering.
Mercator AI plans to broaden its solutions to business development, operations, and marketing professionals across construction, real estate, and manufacturing.
“The magic in construction happens when we collaborate early on, get stakeholder input at the onset, and optimize for the best outcome together. That’s what we enable with Mercator AI,” said Chloe Smith.
Over the next 24 months, Mercator AI will accelerate the development of their early project detection tool to support pre-construction teams with macro industry insights, competitive intelligence, and client monitoring tools.
Mercator AI has now raised a total of USD $4.46 million since its inception in October 2020.