Monograph, a startup providing a cloud-based platform for architecture and design professionals to manage their projects, announced today that it has raised $20 million in its Series B funding round. New investor Tiger Global led the round, with participation from Tishman Speyer and existing investors Index Ventures and Homebrew Ventures.
The round brings Monograph’s total funding raised to $29.3 million since it was founded in 2019. Monograph last raised in May 2021, bringing in $7.4 million for its Series A.
Three design technologists started the company — Robert Yuen, Moe Amaya and Alex Dixon — all of whom have a background in architecture. Its software helps architectural practices manage many different aspects of their operational systems, including timesheets, budgets, human resources and invoicing; $500 million worth of projects have been executed on the platform to date.
The San Francisco-based company has grown to 33 employees after beginning 2021 with just eight, CEO and co-founder Robert Yuen told TechCrunch in an email. The new funding will be used to further grow the product and engineering teams.
The pandemic has accelerated growth among smaller design firms as the demand for new residential renovations and construction grows, Yuen wrote. As hiring in the industry picks up pace, Monograph is building a virtual community of professionals in the field through sharing content and job openings, on top of investing in its core software product.
Yuen highlighted Monograph’s budgeting solution, which allows project managers to view project-level finances in real time, as particularly unique given the industry’s reliance on spreadsheets. According to Yuen, the typical project manager who does not use Monograph would have to wait an average of one month to understand whether they were under or over budget on a project.
John Curtius, partner at Tiger Global, was closely involved in the firm’s investment in Monograph.
“Monograph is built for architects by architects, which is why it excels at providing a solution to minimize the time spent managing a project,” Curtius said in an email to TechCrunch.
Source: New feed