What is Cove?
Cove offers a revolutionary suite of building design tools designed to dismantle traditional barriers within the design and construction cycle. By fostering a new ecosystem of shared information, interoperability, and accountability, Cove empowers project teams to collaborate more effectively. The platform aims to create a more streamlined and transparent process for building design and execution, enhancing efficiency and reducing project friction.
How much funding has Cove raised?
Cove has raised a total of $35.7M across 2 funding rounds:
Series A
$5.7M
Series B
$30M
Series A (2020): $5.7M with participation from Knoll Ventures LLC, TechSquare Labs, and Urban Us companies
Series B (2021): $30M led by Coatue, Knoll Ventures, FootPrint Coalition, Urban Us companies, and Mucker Capital
Key Investors in Cove
Coatue
Coatue Management is an employee-owned hedge fund sponsor that primarily invests in public and private equity, with a global market focus. Founded in 1999, the firm also engages in hedging markets and invests in equity-related securities like swaps and options.
Knoll Ventures
Knoll Ventures provides strategic capital to early-stage technology companies, particularly those challenging the status quo in sectors like sustainability and B2B sales transparency. They aim to empower founders through resources, connections, and guidance.
FootPrint Coalition
FootPrint Coalition is a climate tech venture capital firm focused on combating climate change through investments in innovative climate tech companies. Their investment areas span consumer products, data, energy, food, homes, and mobility.
What's next for Cove?
With the infusion of major enterprise-level capital and a recent strategic investment, Cove is poised for significant scaling and product development. The company's focus on interoperability and accountability in building design positions it to capture a larger market share. Future endeavors will likely involve enhancing its platform's capabilities, expanding its user base, and potentially forging new strategic partnerships to further integrate its tools into the broader construction technology landscape. This strategic financing will enable Cove to accelerate its mission of transforming the design and construction industry.
See full Cove company page
