Veev

Company Overview

Snapshot

Founded in January 2008 by Dafna Ben Porat Akiva, Amit Heller, and Ami Avrahami, Veev operates with 51–200 employees. The company raised a total of $585 million across 4 funding rounds from 13 investors. In December 2023, Veev was acquired by Lennar.

Business overview

Veev is a tech-enabled homebuilder focused on addressing the housing crisis through proprietary panelized building systems and digital fabrication processes. The company designs and produces new homes using a 50,000-square-foot "Digital Fab" facility, where homes are manufactured as near-final products with integrated mechanical, electrical, and plumbing systems. Veev's approach aims for faster construction times, lower costs, and a reduced carbon footprint, utilizing 70% recycled steel instead of wood frames and helical piles for foundations to minimize waste and CO2 emissions. The company operates within the industrial technologies sector, specifically in green construction, smart home, and IoT platform categories, serving the residential real estate market in the United States.

Strategic signal

In December 2023, Veev was acquired by construction giant Lennar, marking a significant strategic shift for the company. This acquisition indicates a consolidation within the proptech and construction technology sectors, with larger players integrating innovative building methods. For investors, this signals the potential for Veev's panelized building system and digital fabrication processes to scale within a major homebuilder's operations, validating the long-term viability of tech-enabled construction solutions.

Company Intelligence Q&A

What was a significant recent corporate development for Veev?

In December 2023, Veev was acquired by Lennar, a major construction company. This acquisition led to Veev's inactive status.

When did Veev last raise a funding round?

Veev raised a Series D round in March 2022. Investors included Bond and Fifth Wall.

What was Veev's funding activity in March 2021?

In March 2021, Veev secured a Series C funding round. Investors in this round included Migdal Insurance and Financial Holdings.

Who were the lead investors in Veev's February 2020 B Round?

In February 2020, Oren Zeev and LenX were lead investors in Veev's B Round.

What is Veev's approach to sustainable construction?

Veev utilizes 70% recycled steel for framing and helical piles for foundations, aiming to produce near zero-waste and approximately 50% fewer carbon emissions compared to traditional construction methods. This approach addresses the significant environmental impact of residential real estate.