Construction tech startup Agora Raises $33 Million in Series B

by Kay Aloha Villamor in August 13th, 2021

Agora, a startup that built a materials management platform for contractors, has raised $33 Million in a Series B round of funding led by Tiger Global Management.

8VC, Tishman Speyer, Yahoo co-founder Jerry Yang, Michael Ovitz, DST, LeFrak, and Kevin Hartz also participated in the financing, which brings the startup’s total raised since its 2018 inception to about $45 million.

Company: Agora Systems, Inc.

Raised: $33.0M

Round: Series B

Funding Month: August 2021

Lead Investors: Tiger Global Management

Additional Investors: 8VC, Tishman Speyer, Jerry Yang, Michael Ovitz, DST, LeFrak, and Kevin Hartz

Company Website: https://www.helloagora.com

Software Category: Construction tech

About the Company: Maria Rioumine and Ryan Gibson founded Agora with the mission of making it easier for commercial trade contractors to order and track materials, automate manual data entry, and give everyone involved in the procurement process a single platform by which they can communicate with each other. Agora’s annual recurring revenue has grown 760% year over year and its customer base is up 6x during the same time frame. It has also tripled its headcount to 45 people and today is processing $140 million in annualized materials volume for its customers.

Source: https://techcrunch.com/2021/08/12/construction-tech-startup-agora-raises-33m-in-tiger-global-led-round-amid-760-yoy-arr-growth/

 



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