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 March 2022, Veev secured a Series D round with participation from Bond and Fifth Wall.

Business overview

Veev is a tech-enabled homebuilder focused on addressing the housing crisis through innovative construction methods. The company utilizes a proprietary panelized building system and a digital fabrication process to design and produce new homes. Veev's approach allows for faster construction times, reduced costs, and a lower carbon footprint compared to traditional building methods. Its panelized construction, which takes place in a 50,000-square-foot "Digital Fab" facility, manufactures homes as near-final products with integrated mechanical, electrical, and plumbing systems. Veev primarily serves the residential real estate market in the United States, operating within the Industrial Technologies sector, with a strong emphasis on Green Construction and Climate Tech.

Strategic signal

In December 2023, construction giant Lennar acquired full control of Veev. This acquisition signals a strategic move by a major industry player to integrate Veev's advanced construction technologies, such as its panelized building system and digital fabrication process, into its operations. For investors, this indicates a validation of Veev's innovative approach to homebuilding and its potential to scale within the broader construction market, despite prior reports of the company being on the verge of closure.

Company Intelligence Q&A

What was a significant recent corporate development for Veev?

In December 2023, Veev was acquired by construction giant Lennar, which took full control of the company.

When did Veev last raise a funding round?

In March 2022, Veev raised a Series D funding round with participation from investors including Bond and Fifth Wall.

What was Veev's previous funding round before the Series D?

In March 2021, Veev secured a Series C funding round with participation from Migdal Insurance.

What is Veev's approach to sustainable construction?

Veev uses 70% recycled steel instead of wood frames and deploys helical piles for foundations instead of concrete, resulting in near zero-waste and roughly 50% fewer carbon emissions than traditional builds. This precise building technology eliminates waste.

What was Veev's status in November 2022?

In November 2022, Veev cut 30% of its jobs, eight months after raising a $400 million funding round.