- Companies
- Andpad
Andpad Valuation, Funding & Investors
Andpad is valued at $537M as of October 2020.
Last Andpad valuation
$537M
Series C · Oct 2020
Last Andpad funding round
$19M
Series C · Oct 2020
Cumulative funding Andpad raised
$94M
across 5 funding rounds
Key investors in Andpad
DNX Ventures
Salesforce Ventures
BEENEXT
Globis Capital Partners
Sequoia Capital
Senshu Ikeda Capital
About Andpad
Andpad is a Tokyo-headquartered provider of cloud-based construction management software for the Japanese market. Launched in 2015, the platform streamlines project collaboration, document sharing, scheduling, and progress tracking for contractors, architects, and owners. It serves over 100,000 users across residential, commercial, and infrastructure projects nationwide, integrating with tools like Autodesk and Microsoft Office.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$537M (Oct 2020)
Andpad Valuation
Andpad is currently valued at $537M, based on its Series C in October 2020.
The $19M round was led by Minerva Growth Partners, with participation from Sequoia Capital.
Andpad valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Oct 2020 | Series C | $537M |
Andpad Funding History
Andpad has raised a total of $94M across 5 funding rounds.
Andpad's first fundraising round was a $4M Series A in March 2018. The most recent completed round was a $19M Series C in October 2020.
Andpad funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Oct 2020 | Series C | Minerva Growth Partners (lead); Sequoia Capital | $19M | $537M | - |
| Jul 2020 | Undisclosed stage | Globis Capital Partners (lead); Salesforce Ventures; DNX Ventures; BEENEXT | $38M | - | ANDPAD is a Japanese company providing integrated software 'ANDPAD' to enhance productivity across the construction industry, addressing challenges from field operations to management. Globis Capital Partners lists ANDPAD as a portfolio company with an investment noted in April 2019 (Early stage), though the queried round is around July 2020 led by Globis with co-investors including BEENEXT, DNX Ventures, and Salesforce Ventures. The company has progressed to later-stage funding, indicating growth in the construction tech sector. Later rounds show continued investor interest from overlapping parties like Globis and DNX. Globis Capital Partners, a key investor, emphasizes hands-on support from seed to growth stages, with a portfolio focused on Japanese startups disrupting large industries for potential global expansion. Their Fund VII (closed 2023 at ¥72.7 billion) highlights maximum investments up to ¥10 billion per company to build unicorns, though not tied directly to the 2020 Andpad round. |
| Aug 2019 | Series B | Salesforce Ventures; Iyogin Capital; DNX Ventures; BEENEXT; Kyogin Lease & Capital; Chibagin Capital; Senshu Ikeda Capital; Globis Capital Partners | $23M | - | - |
| Apr 2019 | Series A | Globis Capital Partners (lead); DNX Ventures | $12M | - | ANDPAD is a Japanese construction project management software company that streamlines field management and on-site operations. Its platform centralizes information on drawings, materials, processes, site photos, and personnel to enhance on-site efficiency and project oversight. Founded in 2011 or 2012 as OCT and later renamed ANDPAD, it is headquartered in Tokyo with offices in Chiyoda, Osaka, Fukuoka, and Sendai. Globis Capital Partners made an initial investment in ANDPAD in April 2019, listed as an early-stage deal. The company closed additional funding in a Series B round in September 2019, raising approximately 2.4 billion yen (about $22.6 million USD) from investors including Globis Capital Partners, DNX Ventures, Salesforce Ventures, Beenext, and investment arms of four regional Japanese banks such as Senshu Ikeda Capital and Chibagin Capital. This followed an initial Series B announcement in March 2019 and aimed to expand into provincial areas to address labor shortages and boost productivity in Japan's construction industry. By March 2019, the Andpad platform had been adopted by over 1,600 companies. Globis Capital Partners participated in subsequent rounds including Series B - II (2019), Series C (2020), and Series D (2022), alongside DNX Ventures. ANDPAD has raised a total of $163.51 million over 7 funding rounds from 16 investors as of its latest Series D on September 14, 2022. |
| Mar 2018 | Series A | Salesforce Ventures; DNX Ventures; BEENEXT | $4M | - | Andpad is a cloud-based construction project management platform developed by Tokyo-based Oct (now Andpad Inc.). The platform helps architects, construction companies, and related tradespeople collaborate on residential construction and renovation projects by sharing blueprints, schedules, and real-time updates, as well as consolidating reports and inspection data. The company launched the platform in April 2016 and had grown to 800 contracted companies (primarily paying customers) as of January 2018, up from 350 the previous year. In March 2018, Andpad raised approximately 400 million yen ($3.8 million USD) from investors including Salesforce Ventures, Beenext, Draper Nexus Ventures, and individual investors. The company planned to use the funds to expand its team to 30 people and strengthen system development capabilities, with a goal to sign 10,000 companies. Following this round, Andpad continued to raise capital, closing a Series B round of approximately $22 million in September 2019. |
Who has invested in Andpad?
10 investors have backed Andpad across its funding rounds, including DNX Ventures, Salesforce Ventures, BEENEXT, Globis Capital Partners, Sequoia Capital and Senshu Ikeda Capital.
Lead investors include Minerva Growth Partners and Globis Capital Partners.
Andpad Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Participant | Mar 2018 | ||
| 3 | Participant | Mar 2018 | ||
| 3 | Participant | Mar 2018 | ||
| 3 | Lead | Apr 2019 | ||
| 1 | Participant | Aug 2019 | ||
| 1 | Lead | Oct 2020 | ||
| 1 | Participant | Oct 2020 | ||
| 1 | Participant | Aug 2019 | ||
This data is available for Pro users. Sign up to see all 10 Andpad investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAndpad Competitors
Andpad competitors include listed companies like Limbach Holdings and Meshulam Levinstein, and private ones like PermitFlow, Sitemate, Motion.io and Planhat.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $500M | - | ||
| Private | - | - | $200M | - | ||
| Private | $50M | - | $550M | 11.0x | ||
| Private | - | - | $564M | - | ||
| Publicly listed | $647M | $69M | $597M | 0.9x | ||
| Publicly listed | $167M | $64M | $538M | - |
Andpad Public Comps
Andpad is still privately-owned, but its public comps include Meshulam Levinstein, Zhongyan Technology Co, Ellaktor, Kalpataru, NYAB, Merko Ehitus, Transrail Lighting, Grupo Empresarial San, Concrete Pumping Holdings and Obrascon Huarte Lain.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $167M | $64M | 6.4x | - | 16.8x | - | |||
| $92M | $3M | 5.0x | 5.1x | 159.2x | 40.5x | |||
| $21M | ($53M) | 15.9x | - | (6.5x) | - | |||
| $324M | $134M | 4.4x | 4.4x | 10.7x | 111.0x | |||
| $630M | $41M | 0.8x | 0.7x | 12.3x | 9.8x | |||
| $358M | $54M | 1.6x | - | 10.9x | - | |||
| $707M | $82M | 0.8x | 0.8x | 7.3x | 6.7x | |||
| $1.8B | $78M | - | - | - | - | |||
This data is available for Pro users. Sign up to see all Andpad competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Andpad
| When was Andpad founded? | Andpad was founded in 2015. |
| Where is Andpad headquartered? | Andpad is headquartered in Tokyo, Japan. |
| Is Andpad publicly listed? | No, Andpad is a private, VC-backed company. |
| What is Andpad's valuation? | Andpad was last valued at $537M in its Series C in October 2020. |
| How much funding has Andpad raised? | Andpad has raised $94M across 5 funding rounds. |
| What was Andpad's last funding round? | Andpad's last funding round was a $19M Series C in October 2020, led by Minerva Growth Partners. |
| Who are Andpad's investors? | Andpad's investors include DNX Ventures, Salesforce Ventures, BEENEXT, Globis Capital Partners, Iyogin Capital, Minerva Growth Partners, Sequoia Capital, Kyogin Lease & Capital, Chibagin Capital and Senshu Ikeda Capital. |
| Which companies are comparable to Andpad? | Companies comparable to Andpad include PermitFlow, Sitemate, Motion.io, Planhat, Limbach Holdings and Meshulam Levinstein. |
See companies similar to Andpad
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




