nPlan secures £13.4m Series A investment led by GV to scale its platform.
The funding round was led by GV and will be used to expand the company assurance platform and launch insurance products.
nPlan develops artificial intelligence solutions for the construction sector, using extensive schedule data to forecast and mitigate project risks. The company operates from London and serves major infrastructure and energy clients worldwide.
London-based forecasting technology provider nPlan has secured £13.4m in Series A funding. The investment round was led by GV, with participation from LocalGlobe, Pentech, Entrepreneur First and Sir Ian Davis. The capital will be deployed to scale the company platform and launch a novel category of insurance designed to protect against project overruns.
From the founder
"At a time of ongoing uncertainty, our goal is to provide confidence in a sector notorious for struggling to stick to deadlines or budgets. By using some of the most powerful machine learning capabilities in the world to analyse what worked and what didn’t in past projects, we can help our customers work out what’s going to derail their own initiatives, and stop problems happening before they even appear."
Dev Amratia
CEO and Co-Founder at nPlan
Investor perspective
"Through due diligence, we spoke to a range of customers and prospects, ranging from infrastructure owners like Network Rail or the largest tech companies to contractors such as SNC Lavalin. In all cases, we were blown away that those responsible saw the benefit of applying modern machine learning techniques to such a difficult analogue problem,"
Tom Hulme
General Partner, GV
Use of funds
- 01Continue product development
Investors
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About the company
nPlan
nPlan provides predictive artificial intelligence software to forecast and mitigate risks in global construction and infrastructure projects.