Mosaic, a construction technology platform, announced a $44 million Series B funding round from Peak State Ventures, Andreessen Horowitz, Founders Fund, Innovation Endeavors, and Building Ventures, among others, bringing Mosaic’s total funding to date to $68.75 million.
Mosaic’s platform and team serve as a tech-enabled general contractor for production-scale residential development projects. Much like cloud hosting providers, Mosaic manages construction infrastructure, allowing real estate developers to focus on the value-driving components of their core business, such as land acquisition, sales and marketing, and architecture.
“We’ve spent significant effort rolling up our sleeves alongside our partners—home builders, developers, trades, and everyone in between—in order to create solutions that will truly move the needle,” says Salman Ahmad, co-founder and CEO of Mosaic. “The industry’s most precious resource is the trade workforce. Our technology and data platforms allow us to build tools to help them be more successful.”
The new capital fuels Mosaic’s Arizona expansion from Flagstaff and Prescott into Phoenix and Tucson, where the company has just hired Rod Horn as senior project manager. Horn joins Mosaic from Arizona-based build-to-rent residential builder Hancock Builders.
The company is looking to double its operations head count by the end of 2022, and to expedite the construction of homes within its more than $500 million residential development project pipeline. It is actively recruiting engineering, product, back office, construction, and project management roles.
“We believe they have the potential to have a transformational impact on residential development and the built environment,” says Jason Freedman, venture partner at Peak State Ventures. “Mosaic has demonstrated their ability to deliver a powerful product, a dynamic technology platform, and desirable, quality homes. With housing prices and availability crippling families, communities, and cities, Mosaic is providing a tangible tool to streamline cumbersome, expensive processes, and make a better product: quality homes that people love.”
