GreenLite, a construction technology company that aims to simplify and speed up the permitting process for builders, developers, and local governments, has raised $28.5 million in a Series A funding round. The round was led by Craft Ventures, with additional backing from 53 Stations, Trust Ventures, and LiveOak Ventures. This funding comes less than a year after GreenLite’s launch and will be used to improve its technology, expand into new markets, and strengthen its work with local governments.
Currently, construction permitting is known for being complicated and unpredictable, with long waits that affect builders, developers, and local governments alike. The COVID-19 pandemic made this issue even worse, as many local governments had other priorities, which delayed permit applications and cost the economy billions.
“There are 20,000 jurisdictions in the U.S., each with its own forms and processes for building permits, yet 95% of the building codes are the same,” said James Gallagher, Co-Founder and CEO of GreenLite. “At GreenLite, we bring together all the different requirements and offer a single, privatized regulatory agency to work with. This saves our customers time and money, and helps city and county governments manage permits more efficiently.”
GreenLite’s platform uses technology to standardize and automate the entire permitting process across different locations, cutting down the time and effort needed for permit approval by 75%. It is the only company in the market using a software-driven approach to simplify permitting, benefiting both developers and cities with faster, more organized processes.
Bryan Rosenblatt, Partner at Craft Ventures, said, “The GreenLite founders are passionate about fixing the permitting process. Their mission to help both developers and governments work together more smoothly will ultimately speed up America’s ability to build.”
GreenLite’s technology combines construction drawings, zoning data, and local building codes in one system, which helps both developers and reviewers catch compliance issues earlier and more easily. The company works with a variety of clients, including large retailers, restaurants, and home builders, helping them navigate the local permit process with greater speed and accuracy.
Sumaia Alamoudi, Senior Director at Driven Brands, shared, “GreenLite helps us open new locations faster by making the permitting process more predictable and efficient.”
The private permitting industry has grown rapidly in recent years, and GreenLite is poised to continue expanding its services to support both the public and private sectors.
