Atlanta, GA. 18th January 2023 - Cerulean Labs is excited to announce its Series Seed round led by Shadow Ventures. In conjunction with the raise, Cerulean Labs has established Cerulean Labs U.S., Inc. as its global headquarters in Atlanta, Georgia.
"It's been a long process to get to this point, but I am thrilled to have Shadow Ventures lead our Series Seed round," says Campbell Yule, founder of Cerulean Labs. "For a start-up like Cerulean Labs, it was essential to find an investor who understands our market. I have been impressed from day one by the entire Shadow Ventures team and I'm excited about partnering with them in 2023.”
The funding - from Shadow Ventures and a handful of co-investors - will allow Cerulean Labs to continue developing and commercializing Spaces, the company’s iPad-based conceptual design tool for architects.
“We believe Spaces is the first company focused on developing a truly intuitive product specifically for designers,” says KP Reddy, Founder and Managing Partner at Shadow Ventures, and author of “BIM for Building Owners and Developers.” “Current BIM products have not delivered on digital transformation and have, in many cases, set the entire industry behind. Spaces will accelerate the entire industry forward led by the most experienced designers, not just digital natives.”
Having focused primarily on product development for the last two years, Yule says he is looking forward to the next phase of business as they build the business model and customer base.
Incorporating and moving the headquarters to the U.S. provides a solid foundation for the business as it moves into the next phase of growth. “Cerulean Labs is comprised of a global team,” says Yule, “and having our headquarters in the U.S. will strengthen our position and open up a number of exciting opportunities as the business grows.”
About Spaces by Cerulean Labs
All great architecture starts with a line - Spaces by Cerulean Labs is reinventing conceptual design for architecture. By combining sketching with the power of the iPad, Spaces provides a fast, flexible and fluid workflow allowing architects to sketch design options quickly with little or no modelling ability. At the same time, live building data is at your fingertips to inform your design decisions every step of the way.
About Shadow Ventures
Shadow Ventures is a venture capital firm investing in seed-stage technology start-ups bringing innovation to the built environment with the goal of institutionalizing seed-stage investing. Shadow Ventures' current portfolio is made up of companies solving some of the most difficult problems in construction and real estate with elegant, defensible technology.
Shadow Ventures is backed by a mix of strategic limited partners who represent some of the largest potential customers in the built environment. Its team of operators is dedicated to defragmenting and driving innovation in the built environment. Shadow has created Shadow Insights, the built industry's only intelligence platform that provides detailed analyst-reviewed insights on technologies in the space. Shadow Insights is the next step necessary in driving innovation in the built industry.
For more information, please contact:
Campbell Yule – Founder – Cerulean Labs