About Cove.tool
Cove.tool is a company based in Atlanta (United States) founded in 2017.. Cove.tool has raised $41.72 million across 6 funding rounds from investors including Techstars, Knoll Ventures and Coatue. The company has 62 employees as of December 31, 2022. Cove.tool offers products and services including Cove Architecture, Cove Sustainability, and Vitras.ai. Cove.tool operates in a competitive market with competitors including Vention, Bezi, Tinkercad, FenestraPro and IronCAD, among others.
- Headquarter Atlanta, United States
- Employees 62 as on 31 Dec, 2022
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Sectors
Real Estate & ConstructionMedia & Entertainment
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Covetool Inc
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$41.72 M (USD)
in 6 rounds
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Latest Funding Round
$30 M (USD), Series B
Dec 17, 2021
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Investors
Techstars
& 8 more
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Employee Count
62
as on Dec 31, 2022
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Products & Services of Cove.tool
Cove.tool offers a comprehensive portfolio of products and services, including Cove Architecture, Cove Sustainability, and Vitras.ai. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
AI-driven tool for optimizing architecture efficiency and performance.
Provides analysis for energy modeling and compliance requirements.
Automates report generation and planning tasks for architects.
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Funding Insights of Cove.tool
Cove.tool has successfully raised a total of $41.72M across 6 strategic funding rounds. The most recent funding activity was a Series B round of $30 million completed in December 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 6
- Last Round Series B — $30.0M
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First Round
First Round
(24 Jan 2017)
- Investors Count 9
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2021 | Amount | Series B - Cove.tool | Valuation | Coatue | |
| Feb, 2021 | Amount | Seed - Cove.tool | Valuation |
investors |
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| Oct, 2020 | Amount | Series A - Cove.tool | Valuation | Mucker |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Cove.tool
Cove.tool has secured backing from 9 investors, including venture fund investors. Prominent investors backing the company include Techstars, Knoll Ventures and Coatue. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Provider of an investment platform for various stages
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Founded Year | Domain | Location | |
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Venture capital is invested in media sectors by the firm.
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Founded Year | Domain | Location | |
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Accelerator and venture capital firm
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Cove.tool
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Cove.tool
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Cove.Tool Comparisons
Competitors of Cove.tool
Cove.tool operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Vention, Bezi, Tinkercad, FenestraPro and IronCAD, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Modular hardware and software platform for industrial automation is provided.
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| domain | founded_year | HQ Location |
3D design platform enabling whiteboarding, prototyping, collaboration, and handoffs.
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| domain | founded_year | HQ Location |
Online tool to create and edit digital designs on the cloud
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| domain | founded_year | HQ Location |
Cloud-based Revit add-in is offered for energy-efficient building design.
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| domain | founded_year | HQ Location |
CAD design and collaboration software provider
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Cove.tool
When was Cove.tool founded?
Cove.tool was founded in 2017.
Where is Cove.tool located?
Cove.tool is headquartered in Atlanta, United States. It is registered at Atlanta, Georgia, United States.
Is Cove.tool a funded company?
Cove.tool is a funded company, having raised a total of $41.72M across 6 funding rounds to date. The company's 1st funding round was a Series A of $5.7M, raised on Jan 24, 2017.
How many employees does Cove.tool have?
As of Dec 31, 2022, the latest employee count at Cove.tool is 62.
What does Cove.tool do?
Cove.tool was established in 2017 in Atlanta, United States, within the architecture, engineering, and construction sector. An AI-driven web platform is operated to support building design processes. Services encompass design and energy analysis, time and cost management, carbon emission tracking, automated reporting, and project oversight. Operations focus on streamlining workflows for AEC professionals across various project stages.
Who are the top competitors of Cove.tool?
Cove.tool's top competitors include Vention, Sensat and FenestraPro.
What products or services does Cove.tool offer?
Cove.tool offers Cove Architecture, Cove Sustainability, and Vitras.ai.
Who are Cove.tool's investors?
Cove.tool has 9 investors. Key investors include Techstars, Knoll Ventures, Coatue, FootPrint Coalition, and Mucker.