Veev

Company Overview

Snapshot

Founded in January 2008 by Dafna Ben Porat Akiva, Amit Heller, and Ami Avrahami, Veev grew to 51–200 employees. The company raised a total of $585 million across 4 funding rounds from 13 investors, with Bond leading a round in March 2022. Veev was acquired by Lennar in December 2023.

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, lower costs, and a reduced carbon footprint compared to traditional building. Its panelized construction takes place in a 50,000-square-foot "Digital Fab" facility, where homes are manufactured as near-final products with integrated mechanical, electrical, and plumbing systems. Veev operates within the Industrial Technologies sector, specifically in Green Construction, Material Innovations & Applications, and Clean Industry Tech, serving the residential real estate market.

Strategic signal

Veev was acquired by construction giant Lennar in December 2023, following a period of significant operational changes including job cuts in November 2022. This acquisition signals a strategic move by Lennar to integrate Veev's advanced panelized building system and digital fabrication processes, potentially transforming traditional homebuilding practices and addressing efficiency and sustainability challenges within the construction industry.

Company Intelligence Q&A

What was Veev's most recent corporate milestone?

Veev was acquired by Lennar in December 2023, marking a significant exit for the company and its investors.

Which investors participated in Veev's Series C funding round?

In March 2021, Veev received funding from investors including Migdal Insurance.

What was the strategic impact of Veev's workforce optimization?

In November 2022, Veev cut 30% of its jobs, eight months after raising $400 million, indicating a strategic restructuring to adapt to market conditions.

What is Veev's approach to sustainable construction?

Veev utilizes 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.