Veev raises another $400 million, turns unicorn

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Tech-enabled home building company Veev has attained “unicorn” status following a $400 million Series D funding round led by BOND with participation from LenX, Zeev Ventures, Fifth Wall Climate Tech, and JLL Spark Global Ventures. The company has now raised funds totaling $600 million of which $100 million Series C funding took place in March 2021.

At Veev, the needs of individual homeowners are taken into account while delivering an immersive household experience with integrated touch panels and smart sensors providing seamless control over lighting and climate, and high-performance materials providing ultimate durability.

Formerly known as Dragonfly Group, Veev was co-founded by Amit Haller, Ami Avrahami and Dafna Akiva in 2008 as a traditional real estate company. By 2018, it had redefined the building process through vertical integration of the supply chain rendering it “4 times faster” than traditional methods. What facilitates this speed is its panelized construction which takes place in a 50,000 sq. ft. “Digital Fab” facility where homes are manufactured as a near-final product and then transported to the construction site where the panels are assembled and installed using its “plug & play system”. This enables prompt delivery of projects, low costs, and nearly zero wastage, proving that sustainability is embedded in its design and development.

On a mission to address the housing crisis in the U.S. with a vision of making exceptional living an attainable reality rather than an impossible dream or an endless project, the California-based company will deploy the funds to expand its operations to new markets and accelerate R&D activities.