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Saturday, July 13, 2024

Eldridge and JE Dunn invest $190 million in Prescient

Prescient, a software and design company, has closed a $190 million investment led by long-term investors Eldridge and JE Dunn. The capital raised will allow Prescient to invest more in its technology platform to expand and grow in the multifamily sector.

“As Prescient has shown over the last eight years, our proprietary platform provides many benefits and is the ideal solution for customers who want to build faster and more economically,” said Magued Eldaief, CEO of Prescient.

Eldridge and JE Dunn’s support indicates the strength of our technology, market acceptance for our product, and significant growth opportunity ahead—all things that make this investment attractive.

“Prescient’s business and operations have continued to make significant progress since Eldridge made its initial investment in 2018,” said Tony Minella, Co-founder, and President of the fund.

“Prescient has huge potential as a company, and we are excited about the opportunity to continue working with them to expand their business.”

“Prescient is an innovative technology that has the potential to save our customers time, money, and headaches in construction management,” said Tim Dunn, Chairman of JE Dunn Construction.

Prescient’s digital design-build platform is revolutionizing how buildings are designed and constructed, increasing returns on investments across the entire development, construction—and even operating!

The platform provides a more efficient, integrated, and transparent approach for the planning, designing, and building multifamily housing structures by advanced professionals.

Prescient enables efficiencies in the building process that eliminate waste across disciplines, including off-site manufacturing and on-site assembly.

The company’s components are made from 100% recycled steel and conform to LEED standards; they can be taken apart, reused, or recycled. Prescient continues to innovate across integrated software and hardware platforms to meet customers’ needs better and drive further industrialization within the construction industry.

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