Veev Group Inc., a San Mateo, Calif.-based integrated real estate developer, raised $97m to date and closed its Series B funding round.
The round was co-led by Zeev Ventures and Lennar Ventures.
The funding includes $85M in equity and $12M in debt and will be used to accelerate the development of the Veev panelized building system, as well as to scale the business.
Additional participants in funding to date include Eclipse Ventures, Green Spring Associates and Khosla Ventures with Western Technology Investment as the debt provider.
Led by Amit Haller, CEO, Chairman and Co-founder, Veev provides integrated real estate solutions to create living experiences for all.
Key components of the Veev panelized building system include the use of light gauge steel (LGS) for framing; high performance acrylic (HPA) for surfaces and millwork; radiant climate control systems; and a digital home ecosystem. The company is focused currently on high-performance multifamily and accessory dwelling unit (ADU) products for the San Francisco Bay Area. The current development pipeline totals more than 230 units and 620,000 gross building square feet.
Originally established in 2008, the company consolidated its group of subsidiaries in 2019 to accelerate the pace of innovation in the residential housing market. Veev has more than 260 team members with its headquarters and fabrication facility located in the San Francisco Bay Area and an office in Tel Aviv.
FinSMEs
28/02/2020