Investors Throw Money at Pre-Fab Designer Veev Group
Posted on 03/01/2020
San Mateo-based Veev Group Inc. is a real estate developer that has pivoted to toward becoming a maker of building pre-fabricated materials for property developments. Amit Haller co-founded Veev Group as Dragonfly Group in 2008 as a real estate developer. By 2019, the company changed its name to Veev as the company focused on pre-fabricated materials for the construction industry.
Veev raised US$ 85 million in a Series B round led by Zeev Ventures and Lennar Ventures, the corporate venture arm of Lennar Corporation. Other investors in the round include Eclipse Ventures, Greenspring Associates, and Khosla Ventures. Veev also raised US$ 12 million in debt from Western Technology Investment, a venture debt specialist. Veev plans to use the capital to further the development of its panelized building system, as well as to generally scale the business.
Veev competes with SoftBank Group-backed Katerra.
