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

Andpad Overview

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

JapanTokyo

Website

andpad.jp

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

Andpad valuation by funding round
DateStageValuation
Oct 2020Series 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

Andpad funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Oct 2020Series CMinerva Growth Partners (lead); Sequoia Capital$19M$537M-
Jul 2020Undisclosed stageGlobis 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 2019Series BSalesforce Ventures; Iyogin Capital; DNX Ventures; BEENEXT; Kyogin Lease & Capital; Chibagin Capital; Senshu Ikeda Capital; Globis Capital Partners$23M--
Apr 2019Series AGlobis 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 2018Series ASalesforce 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

Investors in Andpad by funding rounds participated
InvestorHQRoundsRoleFirst check
DNX VenturesUnited StatesSan Francisco, CA4ParticipantMar 2018
Salesforce VenturesUnited StatesSan Francisco, CA3ParticipantMar 2018
BEENEXTSingaporeSingapore3ParticipantMar 2018
Globis Capital PartnersJapanTokyo3LeadApr 2019
Iyogin CapitalJapanMatsuyama1ParticipantAug 2019
Minerva Growth PartnersJapanTokyo1LeadOct 2020
Sequoia CapitalUnited StatesSan Francisco, CA1ParticipantOct 2020
Kyogin Lease & CapitalJapanKyoto1ParticipantAug 2019

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Andpad Competitors

Andpad competitors include listed companies like Limbach Holdings and Meshulam Levinstein, and private ones like PermitFlow, Sitemate, Motion.io and Planhat.

Public and private companies comparable to Andpad
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
PermitFlowUnited StatesNew York City, NYPrivate--$500M-
SitemateAustraliaSydneyPrivate--$200M-
Motion.ioUnited StatesBoulder, COPrivate$50M-$550M11.0x
PlanhatSwedenStockholmPrivate--$564M-
Limbach HoldingsUnited StatesUnited StatesPublicly listed$647M$69M$597M0.9x
Meshulam LevinsteinIsraelIsraelPublicly listed$167M$64M$538M-
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Meshulam Levinstein$167M$64M6.4x-16.8x-
Zhongyan Technology Co$92M$3M5.0x5.1x159.2x40.5x
Ellaktor$21M($53M)15.9x-(6.5x)-
Kalpataru$324M$134M4.4x4.4x10.7x111.0x
NYAB$630M$41M0.8x0.7x12.3x9.8x
Merko Ehitus$358M$54M1.6x-10.9x-
Transrail Lighting$707M$82M0.8x0.8x7.3x6.7x
Grupo Empresarial San$1.8B$78M----

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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.

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