Construction Start-Up Katerra Raises $865M

Over just three years, Katerra has grown from a start-up with an unusual approach to the construction industry into a company with $1.3 billion in bookings.

Now it has drawn support from one of the biggest and most disruptive backers of start-ups around.

Katerra has raised $865 million in a new round of financing led by SoftBank’s Vision Fund, the nearly $100 billion investment vehicle that has shaken up the world of venture capital.

It is the latest outsize bet by the Vision Fund, which has poured billions into start-ups, including WeWork, the virtual reality company Improbable and the indoor farming company Plenty.

Katerra is an integrated construction provider, offering architecture and engineering services, construction management and general contracting, interior design, material supply and renovation services.

(more on Katerra's business and financing . . . )