Vienna-based construction technology startup reebuild has raised €3 million in seed funding to expand its AI-powered back-office automation platform for construction and real estate companies. The round was led by Fortino Ventures, with participation from Rise PropTech and CuriosityVC.
The company develops software that automates administrative and financial processes for construction companies and property developers, including invoice processing, cost management and material tracking. Its platform uses AI to process documents, match financial records and provide project cost information.
Construction and real estate companies often rely on spreadsheets and manual processes to manage invoices, contracts and project costs. This can lead to delays in approvals, limited visibility into project finances and missed opportunities to reduce costs.
Reebuild aims to address these challenges by automating repetitive administrative tasks and providing access to more up-to-date financial information. Its platform processes documents such as invoices, delivery notes, order confirmations and scanned records, converting them into structured data. It automatically matches related documents, recalculates invoice corrections and uses AI agents to prepare tasks and recommend next steps. Approval decisions remain with employees, while the software handles document processing, matching and calculations.
Reflecting on the industry's reliance on traditional administrative processes, Alexander Kornell, CEO and founder of reebuild, said:
We know the problems of this industry firsthand, and we build reebuild together with our customers, extremely close to the day-to-day reality on site. The software many construction companies and developers still work with today has barely evolved in decades and has fallen behind rising expectations.
According to the company, its technology can reduce invoice processing time from more than 20 minutes to around three minutes and shorten approval cycles from five days to approximately one and a half days. Customer feedback also indicates potential procurement cost reductions of up to 20 per cent.
Reebuild currently serves more than 120 companies across over 8,200 construction sites and projects. Its platform has processed invoices worth more than €530 million.
The company is also developing additional AI-powered modules to automate a broader range of commercial processes, including project estimation, on-site documentation and accounting, with the aim of reducing administrative work across the construction sector.
Reebuild plans to use the new funding to expand beyond its existing markets in Austria and Germany into additional European countries, further develop its AI-native modules and grow its Vienna-based team.
Image credit: Oskar Fleischanderl