A Dallas-based AI startup wants to help developers build the cities of the future with software that makes designing a cityscape as simple as a video game.
TestFit, a building configuration software startup, announced landing a $2 million Seed round from Parkway Venture Capital, which has offices in New York and Boston.
The company’s technology allows users to examine how a building can be constructed on a given site, allowing for reconfiguration to find the best option. The AI-powered algorithms allow users to run the software through an app, which allows planners to run simulations based on parameters. The software also automatically handles things like safety compliance.
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“Architects who need to visualize ideas or real estate developers looking to come up with effortless building configurations can simply download the app and aided by AI technology, create stunning, yet realistic, multifamily prototypes instantaneously,” said Jesse Coors-Blankenship, managing partner at Parkway, in a prepared statement.
TestFit was launched in 2017. With the new funding, TestFit plans to expand beyond the housing market and into other types of facilities, such as hotels and office centers, with the hopes of expanding its customer base beyond multifamily housing to include the architectural, real estate developer and general contractor markets.
According to the startup, its technology has been used in thousands of feasibility studies, saving customers nearly $20 million in opportunity costs.
“We’ve been around since 2017, providing our customers with automated, easy-to-use tools for their architectural feasibility studies,” Clifton Harness, co-founder and CEO of TestFit, said in a prepared statement. “This new funding will help us scale to meet increasing demand for accessible generative design and continue innovating to lead the industry.”
